Procedure and formats for limited review / audit report of the listed entity and those entities whose accounts are to be consolidated with the listed entity

Limited review of consolidated accounts: principal auditor must follow auditing and review standards and standardised reporting formats.

Regulation 33(8) requires the listed entity's statutory auditor to undertake a limited review of audits of entities consolidated into the group's financials. The circular prescribes parties covered, replaces prior auditor report formats with standard templates for standalone and consolidated limited reviews and audits, mandates compliance with mandatory auditing and review standards and guidance on consolidated financial statements, and requires the principal auditor to plan, determine significant components and materiality, evaluate component auditor competence, issue consolidation instructions, obtain management representations, and document specified matters.