The auditor shall read the other information and, in doing so shall: (Ref: Para. A23–A24)

1. Consider whether there is a material inconsistency between the other information and the financial report. As the basis for this consideration, the auditor shall, to evaluate their consistency, compare selected amounts or other items in the other information (that are intended to be the same as, to summarise, or to provide greater detail about, the amounts or other items in the financial report) with such amounts or other items in the financial report; and (Ref: Para. A25–A29)
2. Consider whether there is a material inconsistency between the other information and the auditor’s knowledge obtained in the audit, in the context of audit evidence obtained and conclusions reached in the audit. (Ref: Para. A30–A36)

While reading the other information in accordance with paragraph 14 of this Auditing Standard, the auditor shall remain alert for indications that the other information not related to the financial report or the auditor’s knowledge obtained in the audit appears to be materially misstated.  (Ref: Para. A24, A37–A38)

If the auditor identifies that a material inconsistency appears to exist (or becomes aware that the other information appears to be materially misstated), the auditor shall discuss the matter with management and, if necessary, perform other procedures to conclude whether: (Ref: Para. A39–A43) 

1. A material misstatement of the other information exists; 
2. A material misstatement of the financial report exists; or 
3. The auditor’s understanding of the entity and its environment needs to be updated.

If the auditor concludes that a material misstatement of the other information exists, the auditor shall request management to correct the other information.  If management: 

1. Agrees to make the correction, the auditor shall determine that the correction has been made; or 
2. Refuses to make the correction, the auditor shall communicate the matter with those charged with governance and request that the correction be made. 

If the auditor concludes that a material misstatement exists in other information obtained prior to the date of the auditor’s report, and the other information is not corrected after communicating with those charged with governance, the auditor shall take appropriate action, including: (Ref: Para. A44) 

1. Considering the implications for the auditor’s report and communicating with those charged with governance about how the auditor plans to address the material misstatement in the auditor’s report (see paragraph 22(e)(ii) of this Auditing Standard); or (Ref: Para. A45) 
2. Withdrawing from the engagement, where withdrawal is possible under applicable law or regulation.  (Ref: Para. A46–A47)

If the auditor concludes that a material misstatement exists in other information obtained after the date of the auditor’s report, the auditor shall: 

1. If the other information is corrected, perform the procedures necessary in the circumstances; or (Ref: Para. A48) 
2. If the other information is not corrected after communicating with those charged with governance, take appropriate action considering the auditor’s legal rights and obligations, to seek to have the uncorrected material misstatement appropriately brought to the attention of users for whom the auditor’s report is prepared.  (Ref: Para. A49–Aus A50.1)

If, as a result of performing the procedures in paragraphs 14–15 of this Auditing Standard, the auditor concludes that a material misstatement in the financial report exists or the auditor’s understanding of the entity and its environment needs to be updated, the auditor shall respond appropriately in accordance with the other Australian Auditing Standards.  (Ref: Para. A51)

The auditor’s report shall include a separate section with a heading “Other Information”, or other appropriate heading, when, at the date of the auditor’s report: (Ref: Para. Aus A52.1) 

1. For an audit of a financial report of a listed entity, the auditor has obtained, or expects to obtain, the other information; or 
2. For an audit of a financial report of an entity other than a listed entity, the auditor has obtained some or all of the other information.  (Ref: Para. A52)

When the auditor’s report is required to include an Other Information section in accordance with paragraph 21 of this Auditing Standard, this section shall include: (Ref: Para. A53) 

1. A statement that management is responsible for the other information; 
2. An identification of: 
   1. Other information, if any, obtained by the auditor prior to the date of the auditor’s report; and 
   2. For an audit of a financial report of a listed entity, other information, if any, expected to be obtained after the date of the auditor’s report; 
3. A statement that the auditor’s opinion does not cover the other information and, accordingly, that the auditor does not express (or will not express) an audit opinion or any form of assurance conclusion thereon; 
4. A description of the auditor’s responsibilities relating to reading, considering and reporting on other information as required by this Auditing Standard; and 
5. When other information has been obtained prior to the date of the auditor’s report, either: 
   1. A statement that the auditor has nothing to report; or 
   2. If the auditor has concluded that there is an uncorrected material misstatement of the other information, a statement that describes the uncorrected material misstatement of the other information. 

When the auditor expresses a qualified or adverse opinion in accordance with ASA 705,^[3] the auditor shall consider the implications of the matter giving rise to the modification of opinion for the statement required in paragraph 22(e) of this Auditing Standard.  (Ref: Para. A54–A58)

Reporting Prescribed by Law or Regulation

If the auditor is required by law or regulation of a specific jurisdiction to refer to the other information in the auditor’s report using a specific layout or wording, the auditor’s report shall refer to Australian Auditing Standards only if the auditor’s report includes, at a minimum: (Ref: Para. A59) 

1. Identification of the other information obtained by the auditor prior to the date of the auditor’s report; 
2. A description of the auditor’s responsibilities with respect to the other information; and 
3. An explicit statement addressing the outcome of the auditor’s work for this purpose.

In addressing the requirements of ASA 230^[4] as it applies to this Auditing Standard, the auditor shall include in the audit documentation: 

1. Documentation of the procedures performed under this Auditing Standard; and 
2. The final version of the other information on which the auditor has performed the work required under this Auditing Standard.