Section 307 — Corporations Act 2001 (Cth)

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, registrable superannuation entity 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, registrable superannuation entity or disclosing entity has kept other records and registers as required by this Act.

Note: This section applies to sub‑funds of retail CCIVs in a modified form: see section 1232G.

Related sections

• s 304 — Compliance with accounting standards and regulations
• s 305 — True and fair view
• s 306 — Half‑year directors’ report
• s 307A — Audit of financial report to be conducted in accordance with auditing standards
• s 307AA — Audit of sustainability report
• s 307AB — Audit of sustainability report to be conducted in accordance with auditing standards

Research how courts apply s 307

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.