RequirementsRequirements

Requirements

1. In order to establish whether the preconditions for an audit are present, the auditor shall:
   1. Determine whether the financial reporting framework to be applied in the preparation of the financial report is acceptable; and (Ref: Para. A2‑A10)
   2. Obtain the agreement of management that it acknowledges and understands its responsibility: (Ref: Para. A11‑A14, A19, A21-Aus A21.1)
      1. For the preparation of the financial report in accordance with the applicable financial reporting framework, including where relevant their fair presentation; (Ref: Para. A15)
      2. For such internal control as management determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error; and (Ref: Para. A16‑A19)
      3. To provide the auditor with:

a. Access to all information of which management is aware that is relevant to the preparation of the financial report such as records, documentation and other matters;

b. Additional information that the auditor may request from management for the purpose of the audit; and (Ref: Para. A20)

c. Unrestricted access to persons within the entity from whom the auditor determines it necessary to obtain audit evidence.