Illustration 3 - Corresponding Figures (Illustration 3 - Corresponding Figures (Ref: Para. A7)

Illustration 3 - Corresponding Figures (Ref: Para. A7)

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 entity. 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 prior period’s financial report was audited by a predecessor auditor.

 The auditor is not prohibited by law or regulation from referring to the predecessor auditor’s report on the corresponding figures and decides to do so.

 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 no other information prior to 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 local law.