When auditing a fund with a WRAP service investment, we are required to obtain the relevant auditor’s report issued in accordance with ASAE 3402, in relation to that WRAP account service.

ASAE 3402 states that the audit report must be carried out under ASA 3000. The audit report I have obtained states it was in accordance with ASA 3150 and "other" standards.

Here is the link to the audit report. https://www.mlc.com.au/content/dam/mlc/documents/pdf/investments/2nal-internal-controls.pdf

Question 1: Is this the correct type of audit report that can serve as appropriate evidence when we coduct the audit, or is this audit report not what we require?

Question 2: Also GS 009 recommends the following evidence be obtained for WRAP accounts:

If all of these items are provided, is that sufficient to issue an unqualifed audit report?

The reason I ask is that it, in theory we could have all of the above evidence and yet the evidence could be fabriacted. A "financial advisor" could easily create fake WRAP reports claiming to be from a reputable firm. There isn't the same level of verification such as a registry search. How would we, as auditors, know the difference?