Existing paragraph Aus 0.3 is amended to read as follows:
This Auditing Standard is operative for financial reporting periods beginning on or after 15 December 2026. Early adoption of this Auditing Standard is permitted prior to this date.
Existing paragraph 1 is amended to read as follows:
This Australian Auditing Standard (ASA) deals with the auditor’s responsibilities in the audit of a financial report relating to going concern and the implications for the auditor’s report. Although this ASA applies irrespective of the entity’s size or complexity, particular considerations apply only for audits of financial reports of listedpublicly traded entities. (Ref: Para. A1–A2)
Existing paragraph 34 is amended to read as follows:
If the auditor concludes that the going concern basis of accounting is appropriate and no material uncertainty exists, the auditor shall include a separate section in the auditor's report with the heading “Going Concern”, and: (Ref: Para. A78–A79)
(a) …
(b) For an audit of financial report of a listedpublicly traded entity, when significant judgements are made by management in concluding that there is no material uncertainty related to events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern: (Ref: Para. A82–A83, A89)
(i) …
Existing paragraph 35 is amended to read as follows:
If adequate disclosure about the material uncertainty is made in the financial report, the auditor shall express an unmodified opinion and the auditor’s report shall include a separate section under the heading “Material Uncertainty Related to Going Concern” and: (Ref: Para. A78–A79, A90–A91)
(a) Include a reference to the related disclosure(s) in the financial report; (Ref: Para. A73, A77)
(b) For an audit of financial report of a listedpublicly traded entity, describe how the auditor evaluated management’s assessment of the entity’s ability to continue as a going concern; (Ref: Para. A84–A88)
(c) …
Existing paragraph A2 is amended to read as follows:
For audits of financial reports of listedpublicly traded entities, when the auditor concludes, based on the audit evidence obtained, that no material uncertainty exists, and significant judgements were made by management in concluding that there is no material uncertainty related to events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern, this ASA requires the auditor to disclose under the heading of “Going Concern” within the auditor’s report how the auditor evaluated management’s assessment of the entity’s ability to continue as a going concern.
Section Amendments to ASA 570 - AUASB 2025-9 Amendments to AUASB Standards - Amendments to ASA 570 | Zoe
Existing paragraph A81 is amended to read as follows:
Illustration 1 of Appendix 1 to this ASA is an example of an auditor’s report of an entity other than a listedpublicly traded entity when the auditor has obtained sufficient appropriate audit evidence regarding the appropriateness of management’s use of the going concern basis of accounting and has concluded that no material uncertainty exists.
Existing paragraph A82 is amended to read as follows:
For an audit of a financial report of an entity other than a listedpublicly traded entity, law or regulation may require the auditor to provide the information required by paragraph 34(b). The auditor also may decide that providing the information required by paragraph 34(b) for an entitiesy other than a listed entitypublicly traded entities would be appropriate to enhance transparency for intended users of a financial report in the auditor’s report. For example, the auditor may decide to do so if the auditor determines that there is significant public interest in the financial condition of those entities.[40] For example, the auditor may decide to do so for other entities, including those that may be of significant public interest, for example, because they have a large number and wide range of stakeholders and considering the nature and size of the business. Examples of sSuch entities may include financial institutions (such as banks, insurance companies, and superannuation funds), and other entities such as not-for-profit organisationscharities.
Existing paragraph A89 is amended to read as follows:
Illustration 2 of Appendix 1 to this ASA is an example of an auditor’s report of a listedpublicly traded entity when:
…
Existing paragraph A91 is amended to read as follows:
Illustrations 3 and 4 of Appendix 1 to this ASA are examples of an auditor’s report of an entity other than a listedpublicly traded entity and a listedpublicly traded entity, respectively, when the auditor has obtained sufficient appropriate audit evidence regarding the appropriateness of management’s use of the going concern basis of accounting but a material uncertainty exists and disclosure is adequate in the financial report.
Existing paragraph A92 is amended to read as follows:
Illustrations 5 and 6 of Appendix 1 to this ASA are examples of auditor’s reports for a listedpublicly traded entity and an entity other than a listedpublicly traded entity containing qualified and adverse opinions, respectively, when the auditor has obtained sufficient appropriate audit evidence regarding the appropriateness of management’s use of the going concern basis of accounting but adequate disclosure of a material uncertainty is not made in the financial report.
Existing paragraph A101 is amended to read as follows:
In the case of an entity other than a listedpublicly traded entity, in addition to the required statements to be provided in the auditor’s report, when appropriate, the auditor may also communicate with those charged with governance additional matters, for example, describing how the auditor evaluated management’s assessment of the entity’s ability to continue as a going concern.
Existing Appendix 1 is amended to read as follows:
Illustrations of Independent Auditor’s Reports Related to Going Concern
Illustration 1: An auditor’s report of an entity other than a listedpublicly traded entity containing an unmodified opinion when the auditor has concluded that no material uncertainty exists.
Illustration 2: [Deleted by the AUASB. Refer [Aus] Illustration 2A].
[Aus] Illustration 2A: An auditor’s report on a financial report of a single listedpublicly traded company prepared in accordance with the Corporations Act 2001 containing an unmodified opinion when the auditor has concluded that no material uncertainty exists and disclosure in the financial report about the significant judgements made by management in concluding that there is no material uncertainty related to events or conditions that may cast significant doubt on the entity’s ability to continue as going concern is adequate.
Illustration 3: An auditor’s report of an entity other than a listedpublicly traded entity containing an unmodified opinion when the auditor has concluded that a material uncertainty exists and disclosure in the financial report is adequate.
Illustration 4: [Deleted by the AUASB. Refer [Aus] Illustration 4A].
[Aus] Illustration 4A: An auditor’s report on a financial report of a single listedpublicly traded company prepared in accordance with the Corporations Act 2001 containing an unmodified opinion when the auditor has concluded that a material uncertainty exists and disclosure in the financial report is adequate.
Illustration 5: [Deleted by the AUASB. Refer [Aus] Illustration 5A].
[Aus] Illustration 5A: An auditor’s report on a financial report of a single listedpublicly traded company prepared in accordance with the Corporations Act 2001 containing a qualified opinion when the auditor has concluded that a material uncertainty exists and that the financial report is materially misstated due to inadequate disclosure.
Illustration 6: [Deleted by the AUASB. Refer [Aus] Illustration 6A].
[Aus] Illustration 6A: An auditor’s report on a financial report of a single listedpublicly traded company prepared in accordance with the Corporations Act 2001 containing an adverse opinion when the auditor has concluded that a material uncertainty exists and the financial report omits the required disclosures relating to the material uncertainty.
[Aus] Illustration 7: An auditor’s report on a financial report of a single listedpublicly traded company prepared in accordance with the Corporations Act 2001 containing a disclaimer of opinion (limitation of scope) when the auditor has been unable to obtain sufficient appropriate audit evidence about the company’s ability to continue as a going concern.
Illustration 1 – An Auditor’s Report of an Entity Other Than a ListedPublicly Traded Entity Containing an Unmodified Opinion When No Material Uncertainty Exists
For purposes of this illustrative auditor’s report, the following circumstances are assumed:
Audit of the financial report of an entity other than a listedpublicly traded entity using a fair presentation framework. The audit is not a group audit (i.e., ASA 60046 does not apply).
…
[Aus] Illustration 2 is amended to read as follows:
[Aus] Illustration 2 – An Auditor’s Report on a Financial Report of a Single ListedPublicly Traded Company Prepared in Accordance With the Corporations Act 2001 Containing an Unmodified Opinion When No Material Uncertainty Exists and Disclosure in the Financial Report About the Significant Judgements Made by Management in Concluding That There is No Material Uncertainty Is Adequate
For purposes of this illustrative auditor’s report, the following circumstances are assumed:
Audit of the financial report of a listedpublicly traded company. The audit is not a group audit (i.e., ASA 600 does not apply).
…
Illustration 3 is amended to read as follows:
Illustration 3 – An Auditor’s Report of an Entity Other Than a ListedPublicly Traded Entity Containing an Unmodified Opinion When a Material Uncertainty Exists and Disclosure in the Financial Report Is Adequate
For purposes of this illustrative auditor’s report, the following circumstances are assumed:
Audit of the financial report of an entity other than a listedpublicly traded entity using a fair presentation framework. The audit is not a group audit (i.e., ASA 600 does not apply).
…
[Aus] Illustration 4A is amended to read as follows:
[Aus] Illustration 4A – An Auditor’s Report on a Financial Report of a Single ListedPublicly Traded Company Prepared in Accordance With the Corporations Act 2001 Containing an Unmodified Opinion When the Auditor Has Concluded That a Material Uncertainty Exists and Disclosure in the Financial Report Is Adequate
For purposes of this illustrative auditor’s report, the following circumstances are assumed:
Audit of the financial report of a listedpublicly traded company. The audit is not a group audit (i.e., ASA 600 does not apply).
…
[Aus] Illustration 5A is amended to read as follows:
[Aus] Illustration 5A – An Auditor’s Report on a Financial Report of a Single ListedPublicly Traded Company Prepared in Accordance With Corporations Act 2001 Containing a Qualified Opinion When the Auditor Has Concluded That a Material Uncertainty Exists and That the Financial Report Is Materially Misstated Due to Inadequate Disclosure
For purposes of this illustrative auditor’s report, the following circumstances are assumed:
Audit of the financial report of a listedpublicly traded company. The audit is not a group audit (i.e., ASA 600 does not apply).
…
[Aus] Illustration 6A is amended to read as follows:
[Aus] Illustration 6A – An Auditor’s Report on a Financial Report of a Single ListedPublicly Traded Company Prepared in Accordance With the Corporations Act 2001 Containing an Adverse Opinion When the Auditor Has Concluded That a Material Uncertainty Exists and the Financial Report Omits the Required Disclosures Relating to the Material Uncertainty
For purposes of the illustrative auditor’s report, the following circumstances are assumed:
Audit of the financial report of a listedpublicly traded company. The audit is not a group audit (i.e., ASA 600 does not apply).
…
INDEPENDENT AUDITOR’S REPORT
…
Adverse Opinion
…
In our opinion, because of the significance of the omission of the information describedmentioned in the Basis for Adverse Opinion section of our report, the accompanying financial report of ABC Company Ltd., is not in accordance with the Corporations Act 2001 including:
(a) …
[Aus] Illustration 7 is amended to read as follows:
[Aus] Illustration 7 – An Auditor’s Report on a Financial Report of a Single ListedPublicly Traded Company Prepared in Accordance With the Corporations Act 2001 Containing a Disclaimer of Opinion (Limitation of Scope) When the Auditor Has Been Unable to Obtain Sufficient Appropriate Audit Evidence About the Company’s Ability to Continue as a Going Concern
For purposes of the illustrative auditor’s report, the following circumstances are assumed:
Audit of the financial report of a single listedpublicly traded company. The audit is not a group audit (i.e. ASA 600* does not apply).
…
The following diagram and its heading are inserted after the existing Auditor’s Decision-Making Process for Going Concern diagram in [Aus] Appendix 2:
Diagram - Linking Going Concern Considerations and Types of Audit Opinions
Linking Going Concern Considerations and Types of Audit Opinions