Corporations Act. Australia
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Название: Corporations Act

Автор: Australia

Издательство: Проспект

Жанр: Юриспруденция, право

Серия:

isbn: 9785392086429

isbn:

СКАЧАТЬ be signed by a director.

      304 Compliance with accounting standards and regulations

      The financial report for a half‑year must comply with the accounting standards and any further requirements in the regulations.

      305 True and fair view

      The financial statements and notes for a half‑year must give a true and fair view of:

      (a) the financial position and performance of the disclosing entity; or

      (b) if consolidated financial statements are required — the financial position and performance of the consolidated entity.

      This section does not affect the obligation under section 304 for financial reports to comply with accounting standards.

      Note: If the financial statements prepared in compliance with the accounting standards would not give a true and fair view, additional information must be included in the notes to the financial statements under paragraph 303(3)(c).

      306 Half‑year directors’ report

      (1) The directors of the disclosing entity must prepare a directors’ report for each half‑year that consists of:

      (a) a review of the entity’s operations during the half‑year and the results of those operations; and

      (b) the name of each person who has been a director of the disclosing entity at any time during or since the end of the half‑year and the period for which they were a director.

      If consolidated financial statements are required, the review under paragraph (a) must cover the consolidated entity.

      (1A) The directors’ report must include a copy of the auditor’s declaration under section 307C in relation to the audit or review for the half‑year.

      (2) If the financial report for a half‑year includes additional information under paragraph 303(3)(c) (information included to give true and fair view of financial position and performance), the directors’ report for the half‑year must also:

      (a) set out the directors’ reasons for forming the opinion that the inclusion of that additional information was necessary to give the true and fair view required by section 305; and

      (b) specify where that information can be found in the financial report.

      (3) The report must:

      (a) be made in accordance with a resolution of the directors; and

      (b) specify the date on which the report is made; and

      (c) be signed by a director.

      Division 3 — Audit and auditor’s report

      307 Audit

      An auditor who conducts an audit of the financial report for a financial year or half‑year must form an opinion about:

      (a) whether the financial report is in accordance with this Act, including:

      (i) section 296 or 304 (compliance with accounting standards); and

      (ii) section 297 or 305 (true and fair view); and

      (aa) if the financial report includes additional information under paragraph 295(3)(c) or 303(3)(c) (information included to give true and fair view of financial position and performance) — whether the inclusion of that additional information was necessary to give the true and fair view required by section 297 or 305; and

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

      (c) whether the company, registered scheme or disclosing entity has kept financial records sufficient to enable a financial report to be prepared and audited; and

      (d) whether the company, registered scheme or disclosing entity has kept other records and registers as required by this Act.

      307A Audit to be conducted in accordance with auditing standards

      (1) If an individual auditor, or an audit company, conducts:

      (a) an audit or review of the financial report for a financial year; or

      (b) an audit or review of the financial report for a half‑year;

      the individual auditor or audit company must conduct the audit or review in accordance with the auditing standards.

      (2) If an audit firm, or an audit company, conducts:

      (a) an audit or review of the financial report for a financial year; or

      (b) an audit or review of the financial report for a half‑year;

      the lead auditor for the audit or review must ensure that the audit or review is conducted in accordance with the auditing standards.

      (3) An offence based on subsection (1) or (2) is an offence of strict liability.

      Note: For strict liability see section 6.1 of the Criminal Code.

      307B Audit working papers to be retained for 7 years

      Contravention by individual auditor or audit company

      (1) An auditor contravenes this subsection if:

      (a) the auditor is an individual auditor or an audit company; and

      (b) the auditor conducts:

      (i) an audit or review of the financial report for a financial year; or

      (ii) an audit or review of the financial report for a half‑year; and

      (c) the auditor does not retain all audit working papers prepared by or for, or considered or used by, the auditor in accordance with the requirements of the auditing standards until:

      (i) the end of 7 years after the date of the audit report prepared in relation to the audit or review to which the audit working papers relate; or

      (ii) an earlier date determined for the audit working papers by ASIC under subsection (6).

      (2) An offence based on subsection (1) is an offence of strict liability.

      Note: For strict liability see section 6.1 of the Criminal Code.

      Contravention by member of audit firm

      (3) A person (the defendant) contravenes this subsection if:

      (a) an audit firm conducts:

      (i) an audit or review of the financial report for a financial year; or

      (ii) СКАЧАТЬ