Document ID: chunk:federal_register_of_legislation:F2023C01138:reg:4:p28
Version: federal_register_of_legislation:F2023C01138
Segment Type: reg
Provision Reference: reg 4 (pt 28/43)
Character Range: 82199–85126

other than a listed company containing an unmodified opinion when the auditor has obtained part of the other information prior to the date of the auditor's report, has not identified a material misstatement of the other information, and expects to obtain other information after the date of the auditor's report.

    For purposes of this illustrative auditor's report, the following circumstances are assumed:

      * Audit of the financial report of an entity other than a listed company.  The audit is not a group audit (i.e., ASA 600 does not apply).

      * The financial report is prepared by management of the entity in accordance with Australian Accounting Standards (a general purpose framework).  The financial report is not prepared under the Corporations Act 2001.

      * The terms of the audit engagement reflect the description of management's responsibility for the financial report in ASA 210.

      * The auditor has concluded an unmodified (i.e., "clean") opinion is appropriate based on the audit evidence obtained.

      * The relevant ethical requirements that apply to the audit are the Accounting Professional & Ethical Standards Board's APES 110 Code of Ethics for Professional Accountants (including Independence Standards).

      * Based on the audit evidence obtained, the auditor has concluded that a material uncertainty does not exist related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern in accordance with ASA 570.

      * The auditor is not required, and has otherwise not decided, to communicate key audit matters in accordance with ASA 701.

      * The auditor has obtained part of the other information prior to the date of the auditor's report, has not identified a material misstatement of the other information, and expects to obtain other information after the date of the auditor's report.

      * Those responsible for oversight of the financial report differ from those responsible for the preparation of the financial report.

      * The auditor has no other reporting responsibilities required under law or regulation.

INDEPENDENT AUDITOR'S REPORT

To the Members of ABC Entity [or Other Appropriate Addressee]

Opinion

We have audited the financial report of ABC Entity (the Entity), which comprises the statement of financial position as at 30 June 20X1, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information, and the declaration by those charged with governance.[*]

In our opinion, the accompanying financial report presents fairly, in all material respects, (or give a true and fair view of) the financial position of the Entity as at 30 June 20X1, and (of) its financial performance and its cash flows for the year then ended in accordance