Document ID: chunk:federal_register_of_legislation:F2022C01208:reg:14:p52
Version: federal_register_of_legislation:F2022C01208
Segment Type: reg
Provision Reference: reg 14 (pt 52/57)
Character Range: 153944–156946

in accordance with the Code.

Responsibility of Management for the Financial Report[43]

Management are responsible for the preparation and fair presentation of the [period] financial report in accordance with the [applicable financial reporting framework]and for such internal control as the directors [those charged with governance] determine is necessary to enable the preparation and fair presentation of the [period] financial report that is free from material misstatement, whether due to fraud or error.

Auditor's Responsibility for the Review of the Financial Report

Our responsibility is to express a conclusion on the financial report based on our review.  ASRE 2410 requires us to conclude whether anything has come to our attention that causes us to believe that the [period] financial report of [name of entity] does not present fairly, in all material respects, [or "give a true and fair view of"[44]] the financial position of the [entity] as at [date], and of its financial performance and its cash flows for the [period] period ended on that date, in accordance with [applicable financial reporting framework].

A review of a financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit.  Accordingly, we do not express an audit opinion.

Report on Other Legal and Regulatory Requirements

[Form and content of this section of the auditor's review report will vary depending on the nature of the auditor's other reporting responsibilities].

[Auditor's signature][45]

[Date of the auditor's review report][46]

[Auditor's address]

EXAMPLE C – AUDITOR'S REVIEW REPORT WITH A QUALIFIED CONCLUSION FOR A LIMITATION ON SCOPE NOT IMPOSED BY MANAGEMENT – FAIR PRESENTATION framework

INDEPENDENT AUDITOR'S REVIEW REPORT

To [appropriate addressee]

Report on the [appropriate title for the financial report] Financial Report[47]

Qualified Conclusion

We have reviewed the [period] financial report of [name of entity], which comprises the statement of financial position as at [date], the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, a summary of significant accounting policies[48] and other explanatory information, and [the declaration by those charged with governance[49]].[50],[51]

Based on our review, which is not an audit, except for the possible effects of the matter described in the Basis for Qualified Conclusion section, nothing has come to our attention that causes us to believe that the accompanying [period] financial report of [name of entity] does not present fairly, in all material respects, [or "give a true and fair