ASRE 2410 - Review of an Interim Financial Report Performed by the Independent Auditor of the Entity - April 2006
EXAMPLE OF AN AUDITOR’S REVIEW REPORT WIEXAMPLE OF AN AUDITOR’S REVIEW REPORT WITH A QUALIFIED CONCLUSION FOR A DEPARTURE FROM THE APPLICABLE FINANCIAL REPORTING FRAMEWORK
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EXAMPLE OF AN AUDITOR’S REVIEW REPORT WITH A QUALIFIED CONCLUSION FOR A DEPARTURE FROM THE APPLICABLE FINANCIAL REPORTING FRAMEWORK
INTERIM FINANCIAL REPORT PREPARED IN ACCORDANCE WITH A FINANCIAL REPORTING FRAMEWORK DESIGNED TO ACHIEVE FAIR PRESENTATION
INDEPENDENT AUDITOR’S REVIEW REPORT
To [appropriate addressee]
Report on the [appropriate title for the financial report] Financial Report
We have reviewed the accompanying [period] financial report of [name of entity], which comprises the balance sheet as at [date], and the income statement, statement of changes in equity and cash flow statement for the [period] ended on that date, a [statement or description of accounting policies,[30]] other selected explanatory notes [and the declaration of those charged with governance[31]]. [32], [33]
[Title of those charged with governance] Responsibility for the [period] Financial Report
The [title of those charged with governance] of the [type of entity] are responsible for the preparation and fair presentation of the [period] financial report in accordance with the [applicable financial reporting framework]. This responsibility includes establishing and maintaining internal controls relevant to the preparation and fair presentation of the [period] financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Auditor’s Responsibility
Our responsibility is to express a conclusion on the [period] financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of Interim and Other Financial Reports Performed by the Independent Auditor of the Entity, in order to state whether, on the basis of the procedures described, anything has come to our attention that causes us to believe that the financial report is not presented fairly, in all material respects, in accordance with the [applicable financial reporting framework]. As the auditor of [name of entity], ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.
A review of a [period] 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.