.png)
Based on our ACR submitted to ATO for FY 2016-2021, they have issued a Letter of Decision giving recommendations to clients. the client made an arrangement with ATO to rectify the issues, ask payment plan/extension of time to pay the in house ssets. Do we need to issue an ACR for FY 2022 onwards until all contraventions are fully rectified or we quote the Letter of Decision in our Management Report. Pls advise what to do. Thanks
top of page
THE AUDITORS INSTITUTE | FORUM
Archived Forums
When you become a member of The Auditors Institute, you immediately gain access to expertise, advocacy for your profession and peace of mind.
Ask a question in our members-only forum or use the search function to find prior technical discussions on your topic. You can expect a response within 24-48hrs.
Disclaimer
The forum is made available by The Auditors Institute Ltd for the benefit of it’s members only, and its primary purpose is to facilitate education, training, and discussion between members. The information and answers provided within the forum are of a general nature and do not consider any specific circumstances, objectives, financial situation or needs related to the matter/s raised. The responses should not be construed as financial advice, and each Member should seek their own professional advice before making any decisions. The Auditors Institute Ltd and its representatives are not responsible for any actions taken based on the information provided in the forum.
bottom of page
It's not up to the accountant or client to decide the outcome of the audit. GS009 means you have to gather evidence and draw a conclusion. Not be told what that conclusion is (also an APES110 possible issue).
Unfortunately the ATO couldn't care less than the accountant and client will lean on the auditor, nor with the fact that clients don't like ACRs and will withhold payment, but that's another rant for another time.
As others have said if it's in the 1A/1B tables, test 4 mandates continued reporting until it's fully rectified.
You can put the expected date of rectification in the report, along with the agreement with the ATO in the "explain including any mitigating circumstances" box, which may placate the accountant/client.