Document ID: chunk:federal_register_of_legislation:F2023C01140:reg:39:p11
Version: federal_register_of_legislation:F2023C01140
Segment Type: reg
Provision Reference: reg 39 (pt 11/53)
Character Range: 40177–43296

current period and are therefore the key audit matters.  The auditor describes these matters in the auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, the auditor determines that a matter should not be communicated in the auditor's report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.  (Ref: Para. A53)

Location of the description of the auditor's responsibilities for the audit of the financial report

41.               The description of the auditor's responsibilities for the audit of the financial report required by paragraphs 39–40 of this Auditing Standard shall be included: (Ref: Para. A54)

(a)                Within the body of the auditor's report;

(b)                Within an appendix to the auditor's report, in which case the auditor's report shall include a reference to the location of the appendix; or (Ref: Para. A54–A55)

(c)                By a specific reference within the auditor's report to the location of such a description on a website of an appropriate authority, where law, regulation or Australian Auditing Standards expressly permit the auditor to do so.  (Ref: Para. A54, A56–A57)

42.               When the auditor refers to a description of the auditor's responsibilities on a website of an appropriate authority, the auditor shall determine that such description addresses, and is not inconsistent with, the requirements in paragraphs 39–40 of this Auditing Standard.  (Ref: Para. A56)

Early adoption of Auditing Standards

Aus 42.1 When the auditor elects to early adopt an Auditing Standard made under section 336 of the Corporations Act 2001, in accordance with section 336(4) of that Act, that election is required to be recorded in the auditor's report.

Other Reporting Responsibilities

43.               If the auditor addresses other reporting responsibilities in the auditor's report on the financial report that are in addition to the auditor's responsibilities under the Australian Auditing Standards, these other reporting responsibilities shall be addressed in a separate section in the auditor's report with a heading titled "Report on Other Legal and Regulatory Requirements" or otherwise as appropriate to the content of the section, unless these other reporting responsibilities address the same topics as those presented under the reporting responsibilities required by the Australian Auditing Standards in which case the other reporting responsibilities may be presented in the same section as the related report elements required by the Australian Auditing Standards.  (Ref: Para. A58–A60)

44.               If other reporting responsibilities are presented in the same section as the related report elements required by the Australian Auditing Standards, the auditor's report shall clearly differentiate the other reporting responsibilities from the reporting that is required by the Australian Auditing Standards.  (Ref: Para. A60)

45.               If the auditor's report contains