55 paragraphs found
For audits of a concise financial report prepared under the Corporations Act 2001 (“the Act”) and in accordance with Accounting Standard AASB 1039 Concise Financial Reports (as amended April 2015) (AASB 1039), the auditor complies with the requirements …
For audits of other summary financial reports, the auditor complies with Auditing Standard ASA 810 Engagements to Report on Summary Financial Statements …
This Guidance Statement is issued on 3 May 2017 by the AUASB and replaces GS 001 Concise Financial Reports Under the Corporations Act 2001 , issued in …
The auditor’s objective in respect of a concise financial report prepared under the Act, is to express an opinion: whether the concise financial report complies with AASB 1039; and when included, whether the discussion and analysis complies with the …
The annual financial reporting requirements of a company, registered scheme and disclosing entity are found in section 314(1) of the …
Section 314(2) of the Act states: A concise report for a financial year consists of: a concise financial report for the year drawn up in accordance with accounting standards made for the purpose of this paragraph; and the directors’ report for the year …
The term “Material Uncertainty Related to Going Concern” has been introduced to the Australian Auditing Standards applicable for financial reporting periods commencing on or after 15 December 2016. The term is not used in the Act and accordingly is not …
Section 314 of the Act does not require a concise report to include the directors’ declaration made under section 295(4) of the Act in respect of the financial report for the year. Consequently, where the directors of an entity decide to include the …
Section 314(3) of the Act requires the auditor to report on whether the discussion and analysis, if required by AASB 1039 to be included in the concise financial report [1] , complies with the requirements laid down by the Accounting Standard. …
The requirements of the Act relating to concise financial reports are based on the view that a concise financial report can provide members with information relevant to evaluating the business, without giving them fully detailed accounting disclosures. …