CCF Annual Report 2016/17 Financial Year | Page 43

2016/17 Annual Report
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the Committee of Management.
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Conclude on the appropriateness of the Committee of Management’s use of the going concern basis of
accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Branch’s ability to continue as a going concern. If we conclude that
a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in
the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the
Branch to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the financial report, including the disclosures,
and whether the financial report represents the underlying transactions and events in a manner that achieves fair
presentation.
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Obtain sufficient appropriate audit evidence regarding the financial information of the business activities
within the Branch to express an opinion on the financial report. We are responsible for the direction, supervision and
performance of the Branch audit. We remain solely responsible for our audit opinion.
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We communicate with the Committee of Management regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
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We also provide the Committee of Management with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with the Committee of Management, we determine those matters that were of most
significance in the audit of the financial report of the current period and are therefore the key audit matters. We can
describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because
the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such
communication.
A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance
Standards Board website at: www.auasb.gov.au/Home.aspx
Stannards Accountants and Advisors
Michael B Shulman
Registered Company Auditor (163888)
Holder of Current Public Practice Certificate
Approved Auditor (FWC Act and Regulations – AA2017/45)
Dated: 4 August, 2017