38 paragraphs found
Where the Licensee uses group cash flow projections to meet the cash needs requirement, on the basis of alternative A (under licence condition 13(c)(v)), the auditor is required to include an audit opinion on whether the parent entity has provided an …
… examined carefully so that the appropriate reporting and auditing obligations are met. …
See ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information . …
Under Option 3, where the Licensee does not prepare a cash flow projection, but instead relies on a financial commitment from an Australian ADI, or comparable foreign institution, (under licence condition 13(c)(iii)) the audit report is required to …
There is a potential conflict between the auditor’s obligation to report any breaches [22] and the Licensee’s obligation to report all ‘reportable situations’ to ASIC. An opinion or conclusion is not provided on the 990K statement in the FS71. The auditor …
ASA 315 [18] contains information that the auditor may find helpful when obtaining an understanding of the entity and its environment, including its internal controls, to provide a basis for the identification and assessment of the risks of material …
An auditor may have concluded that it is appropriate to issue an unmodified opinion or conclusion but during the course of the engagement may have identified non-material matters. The auditor is not expected to modify their audit approach to detect such …
Prior to issuing the FS71 audit report, the auditor considers obtaining a written representation from the directors of the Licensee which includes their assertions that the Licensee has complied with the licence conditions during the financial year and up …
Section 990K(2) requires a report to be given in relation to any matter that, in the opinion of the auditor: has adversely affected, is adversely affecting or may adversely affect the ability of the Licensee to meet the Licensee’s obligations as a …