Document ID: chunk:federal_register_of_legislation:F2023C01140:reg:39:p28
Version: federal_register_of_legislation:F2023C01140
Segment Type: reg
Provision Reference: reg 39 (pt 28/53)
Character Range: 88131–91168

Standard, the election may be recorded in the auditor's report as an Other Matter paragraph. Refer to ASA 706 for requirements and guidance relevant to Other Matter paragraphs.

Other Reporting Responsibilities (Ref: Para. 43–45)

A58.         In some jurisdictions, the auditor may have additional responsibilities to report on other matters that are supplementary to the auditor's responsibilities under the Australian Auditing Standards.  For example, the auditor may be asked to report certain matters if they come to the auditor's attention during the course of the audit of the financial report.  Alternatively, the auditor may be asked to perform and report on additional specified procedures, or to express an opinion on specific matters, such as the adequacy of accounting books and records, internal control over financial reporting or other information.  Auditing standards in the specific jurisdiction often provide guidance on the auditor's responsibilities with respect to specific additional reporting responsibilities in that jurisdiction.

Aus A58.1 When the audit of a financial report is conducted in accordance with the Corporations Act 2001 (the "Act"), section 308(3)(b) of that Act requires the auditor to describe in the auditor's report any deficiency, failure or shortcoming in respect of certain matters referred to in section 307(b), (c) or (d) of that Act.

A59.         In some cases, the relevant law or regulation may require or permit the auditor to report on these other responsibilities as part of their auditor's report on the financial report.  In other cases, the auditor may be required or permitted to report on them in a separate report.

Aus A59.1 An example of "other reporting responsibilities" is where a remuneration report is included in a directors' report and the auditor is required to report in accordance with section 308(3C) of the Corporations Act 2001.

A60.         Paragraphs 43–45 permit combined presentation of other reporting responsibilities and the auditor's responsibilities under the Australian Auditing Standards only when they address the same topics and the wording of the auditor's report clearly differentiates the other reporting responsibilities from those under the Australian Auditing Standards.  Such clear differentiation may make it necessary for the auditor's report to refer to the source of the other reporting responsibilities and to state that such responsibilities are beyond those required under the Australian Auditing Standards.  Otherwise, other reporting responsibilities are required to be addressed in a separate section in the auditor's report with a heading "Report on Other Legal and Regulatory Requirements," or otherwise as appropriate to the content of the section.  In such cases, paragraph 45 requires the auditor to include reporting responsibilities under the Australian Auditing Standards under a heading titled "Report on the Audit of the Financial Report."

Name of the Engagement Partner (Ref: Para. Aus 46.1)

A61.          [Deleted