[Name of the Community Housing Organisation]
Independent Auditor’s Report
to the Members of [Name of the Community Housing Organisation]
Report on the Financial Report
We have audited the accompanying financial report, being a special purpose financial report, of
[Name of the Community Housing Organisation], which comprises the balance sheet as of 30 June
2009 and the income statement for the year then ended, a summary of significant accounting
policies and other explanatory notes and the declaration by the members of the Committee of
management (or the Board in the case of a Company).
The Responsibility of the Members of the Committee of Management for the Financial Report
The Committee of Management is responsible for the preparation and fair presentation of the
financial report and have determined that the accounting policies described in Note 1 to the
financial statements which form part of the financial report are consistent with the financial
reporting requirements of the South Australian Co-operative and Community Housing Act 1991
and are appropriate to meet the needs of the members. The responsibilities of the Committee of
Management also include establishing and maintaining internal control relevant to the preparation
and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting
estimates that are reasonable in the circumstances.
Our responsibility is to express an opinion on the financial report based on our audit. No opinion is expressed as to whether the accounting policies used, as described in Note 1, are appropriate to
meet the needs of the members. We conducted our audit in accordance with Australian Auditing
Standards. These Auditing Standards require that we comply with relevant ethical requirements
relating to audit engagements and plan and perform the audit to obtain reasonable assurance
whether the financial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial report. The procedures selected depend on the auditor’s judgement,
including the assessment of the risks of material misstatement of the financial report, whether due
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the organisation’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates made by the Committee of Management, as well as evaluating the overall presentation
of the financial report.
The financial report has been prepared for distribution to members for the purpose of fulfilling the
financial reporting by the Committee of Management under the South Australian Co-operatives and
Community Housing Act 1991. We disclaim any assumption of responsibility for any reliance of
this report or on the financial report to which it relates to any person other than the members, or for any purpose other than that for which it was prepared.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
In concluding our audit, we have complied with the independence requirements of Australian
professional ethical pronouncements.
In our opinion, the financial report of [Name of the Community Housing Organisation] presents
fairly, in all material respects the financial position of [Name of the Community Housing
Organisation] as of 30 June 2009 and of its financial performance for the year then ended in
accordance with the accounting policies described in Note 1 to the financial statements.
Name of Auditor:
Name of Firm:
Notes to the above example:
If an opinion other than unqualified opinion (as shown above) is to be expressed, necessary
adjustment in the contents is to be made. Such adjustment may include but not limited to (i) the
title of the opinion paragraph changed to “Qualified Auditor’s Opinion” if a qualified opinion is to be
expressed. In such cases, the auditor’s report is to clearly describe the reason(s) for qualification
and to the extent practicable quantify the possible effect(s).