ASA 705 - Modifications to the Opinion in the Independent Auditor's Report - October 2009
Example Auditor’s Report General PurposeExample Auditor’s Report General Purpose Financial Report—Qualified Opinion (material misstatement)
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Example Auditor’s Report
General Purpose Financial Report—Qualified Opinion
(material misstatement)
Illustration 1:
Circumstances include the following:
Audit of a general purpose financial report prepared by management of the entity—the financial statements are prepared in accordance with Australian Accounting Standards.
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.[9]
Inventories are misstated. The misstatement is deemed to be material but not pervasive to the financial report.
In addition to the audit of the financial report, the auditor has other reporting responsibilities required under local law.
INDEPENDENT AUDITOR’S REPORT
[Appropriate Addressee]