Document ID: chunk:federal_register_of_legislation:C2025C00139:section:14:p16
Version: federal_register_of_legislation:C2025C00139
Segment Type: section
Provision Reference: s 14 (pt 16/66)
Character Range: 70523–73373

the financial report does not satisfy the requirements of this Division. If the auditor has concluded that anything has come to the reviewer's attention that causes the reviewer to so believe, the reviewer's report must say why.
 (2) If the reviewer has concluded that anything has come to the reviewer's attention that causes the reviewer to believe that the financial report does not satisfy the requirements of this Division, the reviewer's report must, to the extent it is practicable to do so, quantify the effect that non‑compliance has on the financial report. If it is not practicable to quantify the effect fully, the reviewer's report must say why.
 (3) The reviewer's report must describe:
 (a) any material defect or irregularity in the financial report; and
 (b) any deficiency, failure or shortcoming in respect of the matters mentioned in paragraph 60‑30(4)(b), (c) or (d).
 (4) The reviewer's report must include any statements or disclosures required by the auditing standards.

60‑55  Auditor or reviewer to be provided with information and assistance
  In having its financial report audited or reviewed, a registered entity must ensure that the auditor or reviewer:
 (a) has access at all reasonable times to the books of the registered entity; and
 (b) is given all requested information, explanations or other assistance for the purposes of the audit or review.
A request under paragraph (b) must be a reasonable one.

60‑60  Basic religious charities
 (1) This Subdivision does not apply to a basic religious charity, or to any report relating to a basic religious charity.
 (2) However, this Subdivision applies to a basic religious charity in relation to a financial year, and to any report for the year relating to the charity, if the charity gives the Commissioner a financial report for the year.

Subdivision 60‑D—Errors in information statements and financial reports

60‑65  Errors in information statements and financial reports
 (1) Subsection (2) applies if:
 (a) a registered entity gives its information statement or financial report for a financial year to the Commissioner at a time; and
 (b) after that time, the registered entity identifies a material error in the statement or report.
 (2) The registered entity must give a corrected statement or report to the Commissioner:
 (a) if the entity is a small registered entity—within 60 days after the entity identifies the error; or
 (b) if the entity is a medium registered entity or a large registered entity—within 28 days after the entity identifies the error.
Note: Section 175‑35 provides for an administrative penalty for failing to give the Commissioner a statement required by this Act within the required time.

Subdivision 60‑E—Additional reporting requirements

60‑70  Object of this Subdivision
  The object of this Subdivision is to ensure that the