EXAMPLE D — AUDITOR’S REVIEW REPORT WITHEXAMPLE D — AUDITOR’S REVIEW REPORT WITH AN ADVERSE CONCLUSION FOR A DEPARTURE FROM THE APPLICABLE FINANCIAL REPORTING FRAMEWORK — FAIR PRESENTATION

## EXAMPLE D – AUDITOR’S REVIEW REPORT WITH AN ADVERSE CONCLUSION FOR A DEPARTURE FROM THE APPLICABLE FINANCIAL REPORTING FRAMEWORK – FAIR PRESENTATION INDEPENDENT AUDITOR’S REVIEW REPORT To \[appropriate addressee\] Report on the \[appropriate title for the financial report\] Financial Report[\[58\]](#_ftn63) Adverse Conclusion We have reviewed the \[period\] financial report of \[name of entity\], which comprises the statement of financial position as at \[date\], the statement of comprehensive income, statement of changes in equity and statement of cash flows for the \[period\] ended on that date, a summary of significant accounting policies[\[59\]](#_ftn64)\]and other explanatory information, and \[the declaration of those charged with governance[\[60\]](#_ftn65)\].[\[61\]](#_ftn66),[\[62\]](#_ftn67) Based on our review, which is not an audit, because of the significance of the matter described in the Basis for Adverse Conclusion section of our report, the accompanying \[period\] financial report of \[name of entity\] does not present fairly, in all material respects, \[or “give a true and fair view of[\[63\]](#_ftn68)\]” the financial position of the \[entity\] as at \[date\], and of its financial performance and its cash flows for the \[period\] period ended on that date, in accordance with \[applicable financial reporting framework\]. Basis for Adverse Conclusion As explained in Note X, commencing this period, \[title of those charged with governance\] of the \[entity\] ceased to consolidate the financial reports of its subsidiary companies since \[title of those charged with governance\] considers consolidation to be inappropriate because of the existence of new substantial non‑controlling interests. This is not in accordance with \[applicable financial reporting framework\]. Had a consolidated financial report been prepared, virtually every account in the financial report would have been materially different. The effects on the financial report of the failure to consolidated have not been determined. We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity. Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report. We are independent of the \[entity\] in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. Responsibility of Management for the Financial Report[\[64\]](#_ftn69) Management of the \[type of entity\] are responsible for the preparation and fair presentation of the \[period\] financial report in accordance with the \[applicable financial reporting framework\] and for such internal control as management determine is necessary to enable the preparation and fair presentation of the \[period\] financial report that is free from material misstatement, whether due to fraud or error. Auditor’s Responsibility for the Review of the Financial Report Our responsibility is to express a conclusion on the financial report based on our review. ASRE 2410 requires us to conclude whether anything has come to our attention that causes us to believe that the \[period\] financial report of \[name of entity\] does not present fairly, in all material respects, \[or “give a true and fair view of”[\[65\]](#_ftn70)\] the financial position of the \[entity\] as at \[date\], and of its financial performance and its cash flows for the \[period\] period ended on that date, in accordance with \[applicable financial reporting framework\]. A review of a 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. Report on Other Legal and Regulatory Requirements \[Form and content of this section of the auditor’s review report will vary depending on the nature of the auditor’s other reporting responsibilities.\] \[Auditor’s signature[\[66\]](#_ftn71)\] \[Date of the auditor’s review report\][\[67\]](#_ftn72) \[Auditor’s address\]