Reporting the Nature, Extent and ResultsReporting the Nature, Extent and Results of the Review of an Interim Financial Report

Reporting the Nature, Extent and Results of the Review of an Interim Financial Report

70 The auditor shall issue a written report that contains the following:

(a) An appropriate title clearly identifying it as a review report of the independent auditor of the entity.

(b) An addressee, as required by the circumstances of the engagement.

(c) Identification of the interim financial report reviewed including identification of the title of each of the statements contained in the financial report and the date and period covered by the interim financial report.

(d) A statement that those charged with governance are responsible for the preparation and fair presentation of the interim financial report in accordance with the applicable financial reporting framework.

(e) [Deleted by the AUASB].

(f) A statement that the auditor is responsible for expressing a conclusion on the interim financial report based on the review.

(g) A statement that the review of the interim financial report was conducted 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, and that that Auditing Standard requires the auditor to comply with ethical requirements relevant to the audit of the annual financial report.

(h) A statement that a review consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures.

(i) A statement that a review is substantially less in scope than an audit conducted in accordance with Auditing Standards and consequently does not enable the auditor to obtain assurance that the auditor would become aware of all significant matters that might be identified in an audit and that accordingly no audit opinion is expressed.

(j) A conclusion as to whether anything has come to the auditor’s attention that causes the auditor to believe that the interim financial report does not present fairly, or if applicable, is not true and fair, in all material respects, in accordance with the applicable financial reporting framework (including a reference to the jurisdiction or country of origin of the financial reporting framework when Australia is not the origin of the financial reporting framework used).

(k) The date of the auditor’s review report.

(l) The location in the country or jurisdiction where the auditor practices.

(m) The auditor’s signature.

71 In some cases, law or regulation governing the review of an interim financial report may prescribe wording for the auditor’s conclusion that is different from the wording described in paragraph 70(j). Although the auditor may be obliged to use the prescribed wording, the auditor’s responsibilities as described in this Auditing Standard for coming to the conclusion remain the same. Illustrative review reports are set out in Appendices 3 and 4 to this Auditing Standard.