Document ID: chunk:federal_register_of_legislation:F2021C01242:reg:5:p10
Version: federal_register_of_legislation:F2021C01242
Segment Type: reg
Provision Reference: reg 5 (pt 10/12)
Character Range: 32233–35148

or are contemplated.

           * Whether any events have occurred or are likely to occur that will bring into question the appropriateness of accounting policies used in the financial report, as would be the case, for example, if such events call into question the validity of the going concern assumption.

           * Whether any events have occurred that are relevant to the measurement of estimates or provisions made in the financial report.

           * Whether any events have occurred that are relevant to the recoverability of assets.

Reading Minutes (Ref. Para. 7(c))

Consideration Specific to Public Sector Entities

A10.         In the public sector, the auditor may read the official records of relevant proceedings of the legislature and enquire about matters addressed in proceedings for which official records are not yet available.

Implications of Other Information Obtained after the Date of the Auditor's Report (Ref: Para. 10))

A11.         While the auditor has no obligation to perform any audit procedures regarding the financial report after the date of the auditor's report but before the date the financial report is issued, ASA 720 contains requirements and guidance with respect to other information obtained after the date of the auditor's report, which might include other information obtained after the date of the auditor's report, but before the date the financial report is issued.

Facts Which Become Known to the Auditor after the Date of the Auditor's Report but before the Date the Financial Report Is Issued

Management Responsibility Towards Auditor (Ref: Para. 10)

A12.         As explained in ASA 210, the terms of the audit engagement include the agreement of management to inform the auditor of facts that may affect the financial report, of which management may become aware during the period from the date of the auditor's report to the date the financial report is issued.[10]

Dual Dating (Ref: Para. 12(a))

A13.         When, in the circumstances described in paragraph 12(a), the auditor amends the auditor's report to include an additional date restricted to that amendment, the date of the auditor's report on the financial report prior to their subsequent amendment by management remains unchanged because this date informs the reader as to when the audit work on that financial report was completed.  However, an additional date is included in the auditor's report to inform users that the auditor's procedures subsequent to that date were restricted to the subsequent amendment of the financial report.  The following is an illustration of such an additional date:

         "(Date of auditor's report), except as to Note Y, which is as of (date of completion of audit procedures restricted to amendment described in Note Y)."

No Amendment of the Financial Report by Management (Ref: Para. 13)

A14.         In some jurisdictions, management may not