Auditing Standard ASA 2023-1 Amendments to Australian Auditing Standards
Amendments to ASA 705Amendments to ASA 705
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Amendments to ASA 705
Amendments to ASA 705 Appendix: [Aus] Illustration 1A, [Aus] Illustration 2A, [Aus] Illustration 3A, Illustration 4 and Illustration 5
- [Aus] Illustration 1A: An auditor’s report containing a qualified opinion due to a material misstatement of the financial report prepared in accordance with the Corporations Act 2001 (a fair presentation framework), 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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- [Aus] Illustration 2A: An auditor’s report containing an adverse opinion due to a material misstatement of the group financial report prepared in accordance with the Corporations Act 2001 (a fair presentation framework), is amended to read as follows:
INDEPENDENT AUDITOR’S REPORT
…
Adverse Opinion
We have audited the financial report of ABC Company Ltd. (the Company), and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 30 June 20X1, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, notes comprising material accounting policy information a summary of significant accounting policies, and the directors’ declaration.
…
- [Aus] Illustration 3A: An auditor’s report containing a qualified opinion due to the auditor’s inability to obtain sufficient appropriate audit evidence regarding a foreign associate - financial report prepared in accordance with the Corporations Act 2001 (a fair presentation framework), is amended to read as follows:
INDEPENDENT AUDITOR’S REPORT
…
Qualified Opinion
We have audited the financial report of ABC Company Ltd., (the Company), and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 30 June 20X1, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, notes comprising material accounting policy information a summary of significant accounting policies, and the directors’ declaration.