Document ID: chunk:federal_register_of_legislation:F2023C01138:reg:4:p7
Version: federal_register_of_legislation:F2023C01138
Segment Type: reg
Provision Reference: reg 4 (pt 7/43)
Character Range: 24661–27638

only if the auditor's report includes, at a minimum: (Ref: Para. A59)

(a)                Identification of the other information obtained by the auditor prior to the date of the auditor's report;

(b)                A description of the auditor's responsibilities with respect to the other information; and

(c)                An explicit statement addressing the outcome of the auditor's work for this purpose.

Documentation

25.               In addressing the requirements of ASA 230[4] as it applies to this Auditing Standard, the auditor shall include in the audit documentation:

(a)                Documentation of the procedures performed under this Auditing Standard; and

(b)                The final version of the other information on which the auditor has performed the work required under this Auditing Standard.

* * *

Application and Other Explanatory Material

Definitions

Annual Report (Ref: Para. 12(a))

A1.             Law, regulation or custom may define the content of an annual report, and the name by which it is to be referred, for entities in a particular jurisdiction; however, the content and the name may vary within a jurisdiction and from one jurisdiction to another.

A2.             An annual report is typically prepared on an annual basis.  However, when the financial report being audited is prepared for a period less than or more than a year, an annual report may also be prepared that covers the same period as the financial report.

A3.             In some cases, an entity's annual report may be a single document and referred to by the title "annual report" or by some other title.  In other cases, law, regulation or custom may require the entity to report to owners (or similar stakeholders) information on the entity's operations and the entity's financial results and financial position as set out in the financial report (i.e., an annual report) by way of a single document, or by way of two or more separate documents that in combination serve the same purpose.  For example, depending on law, regulation or custom in a particular jurisdiction, one or more of the following documents may form part of the annual report:

           * Management report, management commentary, or operating and financial review or similar reports by those charged with governance (for example, a directors' report).

           * Chairman's statement.

           * Corporate governance statement.

           * Internal control and risk assessment reports.

A4.             An annual report may be made available to users in printed form, or electronically, including on the entity's website.  A document (or combination of documents) may meet the definition of an annual report, irrespective of the manner in which it is made available to users.

A5.             An annual report is different in nature, purpose and content from other reports, such as a report prepared to meet the information needs of a specific stakeholder group or a