Special purpose financial statements Standards on Auditing

These model special purpose financial statements contain illustrative disclosures for entities preparing special purpose financial reports in accordance with Australian financial reporting requirements.

Nội dung chính Show

What is a special purpose financial statement?
What is a special purpose audit?
What is SSA 315?
What is discussed under Standards on Auditing 570?

* We would like to draw attention to the footnotes in the illustrations of the Appendix which highlight to the auditors that when the audit opinions on the financial statements are modified, there may be implications on the audit opinion on the accounting and other records as well, which the auditors would need to assess and evaluate on a case-by-case basis.

What is a special purpose financial statement?

Special purpose financial statements are financial reports that are intended for presentation to a limited group of users. Generally, these types of statements are required by a government entity when they wish to present specific information laid out in a reporting framework.

What is a special purpose audit?

Special purpose audits refer to those circumstances in which the auditor is required to report on specific financial information for specific purposes to specific users, in comparison with the general audit of financial statements.

What is SSA 315?

SSA 315 (Revised 2021) - Identifying and Assessing the Risks of Material Misstatement. SSA 315 (Revised 2021) deals with the auditor's responsibility to identify and assess the risks of material misstatement in the financial statements.

What is discussed under Standards on Auditing 570?

Scope of this SA - This Standard on Auditing (SA) deals with the auditor's responsibilities in the audit of financial statements relating to going concern and the implications for the auditor's report.