158 paragraphs found
The effect of any modification needs to be assessed by the auditor based on the nature of the modification and whether and how it relates to any of the financial information that is the subject of the comfort letter. The auditor uses professional …
The auditor should have obtained a sufficient understanding of an entity’s internal control over financial reporting for both year-end and interim periods through performing an audit of the entity’s financial statements for one or more financial reporting …
The applicable financial reporting framework used for the review of interim financial information is ordinarily represented by Australian Accounting Standard AASB 134 Interim Financial Reporting , issued by the Australian Accounting Standards …
An appropriate level of knowledge of the accounting and financial reporting practices of the entity may be obtained by the auditor auditing, or reviewing, in accordance with Australian Auditing Standards, historical financial statements of the entity (or, …
Pro forma financial information is ordinarily included in the offering document when the entity is involved in a business combination. (Ref: Para. 33 …
A financial forecast prepared by the entity may or may not be included in the offering document. …
Other financial information appearing in the offering document does not include financial information that is covered by the auditor’s report on the financial statements. (Ref: Para. 36 …
As the audit terms “presents fairly” or “true and fair” ordinarily relates to presentations of financial statements, the use of the terms by auditors in commenting on other types of information may be misleading and should not be used in the comfort …
Options for describing the procedures performed and the findings obtained include: (Ref: Para. 39 ) describing them individually for each item of specific information on which comment is made; grouping or summarising some or all of the descriptions, …
Comments regarding subsequent changes typically relate to whether, during the change period, there have been any: (Ref: Para. 42 ) changes in share capital; increases in long-term debt; decreases in other specified financial statement items; decreases in …