The Corporations Act 2001 requires the auditor to report on certain matters only on an exception basis.This means that the auditor need only report particulars of any deficiency, failure or shortcoming in respect of these matters.Which of the following matters should not be reported on an exception basis?
A)Whether the company has kept financial records sufficient to enable a financial report to be prepared and audited.
B)Whether the company has kept registers required by the Act.
C)Whether the auditor has been given all the information and assistance necessary for the conduct of the audit.
D)Whether the financial report provides a true and fair view.

Question

Quizplus · Accepted Answer

The financial report providing a true and fair view is a fundamental aspect of the audit and should not be reported on an exception basis. The other three matters mentioned (keeping financial records, keeping registers, and giving necessary information to the auditor) can be reported on an exception basis.

The Corporations Act 2001 Requires the Auditor to Report on Certain