Document ID: chunk:federal_register_of_legislation:F2023C00341:reg:4:p41
Version: federal_register_of_legislation:F2023C00341
Segment Type: reg
Provision Reference: reg 4 (pt 41/42)
Character Range: 124914–127845

by the component auditor.

    Other information

      * A request that the following be reported to the group engagement team on a timely basis:

              + Significant accounting, financial reporting and auditing matters, including accounting estimates and related judgements.

              + Matters relating to the going concern status of the component.

              + Matters relating to litigation and claims.

              + Significant deficiencies in internal in control that the component auditor has identified during the performance of the work on the financial information of the component, and information that indicates the existence of fraud.

      * A request that the group engagement team be notified of any significant or unusual events as early as possible.

      * A request that the matters listed in paragraph 41 be communicated to the group engagement team when the work on the financial information of the component is completed.
[*]  Early adoption, in conjunction with ASA 315 Identifying and Assessing the Risks of Material Misstatement, permitted.
[1]  See ASA 220 Quality Management for an Audit of a Financial Report and Other Historical Financial Information, paragraphs 25-26.
[2]  See ASA 220, paragraphs 29-31.
[3]  See ASA 200 Overall Objectives of the Independent Auditor, and the Conduct of an Audit in Accordance with Australian Auditing Standards, paragraph A32.
[4]  See ASA 220, paragraph 15.
[5]  See ASA 705 Modifications to the Opinion in the Independent Auditor's Report.
[6]  See ASA 210 Agreeing the Terms of Audit Engagements.
[7]  See ASA 300 Planning an Audit of a Financial Report, paragraphs 7-12.
[8]  See ASA 315 Identifying and Assessing the Risks of Material Misstatement.
[9]  See ASA 315.
[10]  See ASA 330 The Auditor's Responses to Assessed Risks.
[11]  See ASA 200, paragraph 17.
[12]  See ASA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management.
[13]  See ASA 260 Communication with Those Charged with Governance.
[14]  See ASA 230 Audit Documentation, paragraphs 8-11, and paragraph A6.
[15]  See ASA 705, paragraph 20.
[16]  See ASA 210, paragraph 8.
[17]  See ASA 315, paragraphs A27–A73.
[18]  See ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report.
[19]  See ASA 240, paragraph 16; and ASA 315, paragraph 17.
[20]  See ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements, paragraph 54.
[21]  See ASA 320 Materiality in Planning and Performing an Audit, paragraphs 10-11.
[22]  [Deleted by the AUASB.]
[23]  See ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity.  See also ASRE 2400 Review of a Financial Report Performed by an Assurance Practitioner Who is Not the Auditor of the Entity and ASRE