Document ID: chunk:federal_register_of_legislation:F2022C01208:reg:14:p8
Version: federal_register_of_legislation:F2022C01208
Segment Type: reg
Provision Reference: reg 14 (pt 8/57)
Character Range: 30352–33487

in the financial report.  (Ref: Para. A25)

19.               The auditor shall enquire whether those charged with governance have changed their assessment of the entity's ability to continue as a going concern.  When, as the result of this enquiry or other review procedures, the auditor becomes aware of events or conditions that may cast significant doubt on the entity's ability to continue as a going concern, the auditor shall:

(a)                enquire of those charged with governance as to their plans for future actions based on their going concern assessment, the feasibility of these plans, and whether they believe that the outcome of these plans will improve the situation; and

(b)                consider the adequacy of the disclosure about such matters in the financial report.  (Ref: Para. A26)

20.               The auditor shall enquire of management and, where appropriate, those charged with governance, as to the existence of any actual or suspected non-compliance with provisions of laws and regulations that are generally recognised to have a direct effect on the determination of material amounts and disclosures in the financial report.  (Ref: Para. A20)

21.               When a matter comes to the auditor's attention that leads the auditor to question whether a material adjustment should be made for the financial report to be prepared, in all material respects, in accordance with the applicable financial reporting framework, the auditor shall make additional enquiries or perform other procedures to enable the auditor to express a conclusion in the auditor's review report.  (Ref: Para. A27)

Comparatives – First Financial Report (Ref: Para. A28‑A31)

22.               When comparative information is included for the first time in a financial report, an auditor shall perform similar procedures on the comparative information as applied to the current period financial report.

Evaluation of Misstatements (Ref: Para. A32‑A34)

23.               The auditor shall evaluate, individually and in the aggregate, whether uncorrected misstatements that have come to the auditor's attention are material to the financial report.

Written Representations

24.               The auditor shall endeavour to obtain written representations from management and, where appropriate, those charged with governance, that:

(a)                They acknowledge their responsibility for the design and implementation of internal control to prevent and detect fraud and error;

(b)                The financial report is prepared and presented in accordance with the applicable financial reporting framework;

(c)                They believe the effect of those uncorrected misstatements aggregated by the auditor during the review are immaterial, both individually and in the aggregate, to the financial report taken as a whole.  A summary of such items is included in or attached to the written representations;

(d)                They have disclosed to the auditor all significant facts relating to any frauds or suspected frauds known to them that may have affected the entity;

(e)                They have