31386 paragraphs found
The requirements of the applicable financial reporting framework determine the form and content of a financial report. Although the framework may not specify how to account for or disclose all transactions or events, it ordinarily embodies sufficient …
Some financial reporting frameworks are fair presentation frameworks, while others are compliance frameworks. Financial reporting frameworks that encompass primarily the financial reporting standards established by an organisation that is authorised or …
The requirements of the applicable financial reporting framework also determine what constitutes a financial report. In the case of many frameworks, a financial report is intended to provide information about the financial position, financial performance …
ASA 210 establishes requirements and provides guidance on determining the acceptability of the applicable financial reporting framework. [5] ASA 800 deals with special considerations when the financial report is prepared in accordance with a special …
Because of the significance of the premise to the conduct of an audit, the auditor is required to obtain the agreement of management and, where appropriate, those charged with governance that they acknowledge and understand that they have the …
The mandates for audits of financial reports of public sector entities may be broader than those of other entities. As a result, the premise, relating to management’s responsibilities, on which an audit of the financial report of a public sector entity …
The opinion expressed by the auditor is on whether the financial report is prepared, in all material respects, in accordance with the applicable financial reporting framework. The form of the auditor’s opinion, however, will depend upon the applicable …
Where the financial reporting framework is a fair presentation framework, as is generally the case for a general purpose financial report, the opinion required by the Australian Auditing Standards is on whether the financial report is presented fairly, in …