Western Australian Current Acts

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ASSOCIATIONS INCORPORATION ACT 2015 - SECT 82

82 .         Auditor’s opinion and report on financial statements or financial report

        (1)         An auditor who conducts an audit of financial statements or a financial report of an incorporated association under this Part must form an opinion about the following —

            (a)         whether the financial statements satisfy, or the financial report satisfies, the requirements of this Part;

            (b)         whether the auditor has been given all information, explanations and assistance necessary for the conduct of the audit;

            (c)         whether the association has kept financial records sufficient to enable financial statements or a financial report to be prepared and audited;

            (d)         whether the association has kept other records as required by this Part.

        (2)         An auditor who audits the financial statements or the financial report of an incorporated association must report to the members of the association in accordance with subsection (3).

        Penalty: a fine of $5 500.

        (3)         The auditor’s report must —

            (a)         include a statement as to —

                  (i)         whether the auditor is of the opinion that the financial statements are, or the financial report is, in accordance with this Part; and

                  (ii)         if not of that opinion, why not;

                and

            (b)         describe —

                  (i)         any defect or irregularity in the financial statements or the financial report; and

                  (ii)         any deficiency, failure or shortcoming in respect of the matters referred to in subsection (1)(b), (c) or (d);

                and

            (c)         include any statements or disclosures required by the auditing standards; and

            (d)         specify the date on which it is made.

        (4)         If the auditor is of the opinion that the financial statements have not, or the financial report has not, been prepared in accordance with this Part, the auditor’s report must —

            (a)         to the extent that it is practicable to do so, quantify the effect that non-compliance has on the financial statements or financial report; and

            (b)         if it is not practicable to quantify the effect fully, say why.



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