The terms of an audit engagement in the public sector are normally mandated by legislation and thus not subject to requests from, and agreement with, management. Therefore, ASA 210, paragraph 9, is not relevant in these …

Engagement Letter or Other Form of Written Agreement (ASA 210, paragraphs 10-11 , 13 ) …

However, where there is evidence that a public sector entity’s functions may be fully discontinued or where functions are transferred from a government-controlled entity in the GGS to a Public Corporation or to a government-controlled private sector …

In circumstances where there has been an announcement or decision made to abolish a public sector entity, and legislation is required to be passed to cease the entity, the entity is usually treated as a going concern until the legislation has been enacted …

In circumstances where a government has only announced its intention to abolish a public sector entity, this will usually not be sufficient evidence that a government is demonstrably committed to the policy/decision. However, such announcements of a …

For public sector entities referred to in paragraphs 101-107 of this GS, traditional indicators and financial metrics used to assess going concern may be relevant and may signify that a material uncertainty exists, for example, in circumstances where an …

Public sector auditors are aware that changes in government policy can have a significant impact on the status and functions of public sector entities. However, management and the auditor in most instances may not be aware of the strategic or legislative …

When considering appropriate audit procedures relevant to the requirement in ASA 570, paragraph 16, the auditor may consider whether to obtain direct written confirmation from a central government agency or parent entity regarding any plans that may …

When considering requesting such confirmation, the auditor is advised to take account of any constraints imposed by legislation or the political process. Also, in many circumstances, confirmation that financial backing will continue, or future funding …

This Auditing Standard applies to: an audit of a financial report for a financial year, or an audit of a financial report for a half-year, in accordance with the Corporations Act 2001 ; and an audit of a financial report, or a complete set of financial …