Amendments to ASA 570Amendments to ASA 570

Amendments to ASA 570

Amendments to ASA 570 Appendix 2: [Aus] Illustration 1A, [Aus] Illustration 2A, [Aus] Illustration 3A and [Aus] Illustration 4A

1. [Aus] Illustration 1A: An auditor’s report on a financial report of a single listed 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, is amended to read as follows:

INDEPENDENT AUDITOR’S REPORT

…

Opinion

We have audited the financial report of ABC Company Ltd. (the Company), which comprises the statement of financial position as at 30 June 20X1, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information a summary of significant accounting policies, and the directors’ declaration.

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1. [Aus] Illustration 2A: An auditor’s report on a financial report of a single listed 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, is amended to read as follows:

INDEPENDENT AUDITOR’S REPORT

…

Qualified Opinion

We have audited the financial report of ABC Company Ltd., (the Company), which comprises the statement of financial position as at 30 June 20X1, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information a summary of significant accounting policies, and the directors’ declaration.

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1. [Aus] Illustration 3A: An auditor’s report on a financial report of a single listed 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 a material uncertainty, is amended to read as follows:

INDEPENDENT AUDITOR’S REPORT

…

Adverse Opinion

We have audited the financial report of ABC Company Ltd., (the Company), which comprises the statement of financial position as at 30 June 20X1, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including material accounting policy information a summary of significant accounting policies, and the directors’ declaration.