Document ID: chunk:federal_register_of_legislation:F2024C01107:body:0:p98
Version: federal_register_of_legislation:F2024C01107
Segment Type: other
Provision Reference: 
Character Range: 269432–272609

for this return

Schedule 1C Form 5: Risk-Based Capital Requirements—Auditor's Report

PRO FORMA AUDITOR'S REPORT ON FINANCIAL INFORMATION

Pro Forma Auditor's Report on Financial Information

KEY

The following key applies throughout this document.

* Where the Participant is a body corporate incorporated or resident outside Australia operating a branch in Australia, the following words may be inserted – "Australian branch".

** Delete as applicable.

INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS/PARTNERS** OF [PARTICIPANT_NAME]

To: The Directors/Partners**, [Participant_name]

AUDITOR'S REPORT ON THE RETURN

We have audited the financial information set out in the attached.

Annual Risk-Based Audited Return, excluding the Directors'/Partners' ** Statement Relating to Accounts of a Participant and "Prior Period" balances as shown in the Audited Risk-Based Return, (the "Return") of [Participant_name]* ("the Participant") for the [period] ended [date].

The Responsibility of the Directors/Partners ** for the Return

The directors/partners ** of the Participant are responsible for the preparation and fair presentation of the financial information set out in the Return in accordance with the requirements of the ASIC Market Integrity Rules (Capital) 2021. This responsibility includes: establishing and maintaining internal controls relevant to the preparation and fair presentation of the financial information set out in the Return to ensure that the Return is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor's Responsibility

Our responsibility is to express an opinion on the financial information set out in the Return based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial information set out in the attached Return is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures of the financial information set out in the Return. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the financial information set out in the Return whether due to fraud or error.

In making those risk assessments, the auditor considers internal controls relevant to the Participant's preparation and fair presentation of the financial information set out in the Return in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Participant's internal controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors/partners**of the Participant, as well as evaluating the overall presentation of the financial information set out in