Topic background: First reported to the World Health Organisation as an unknown virus in late December 2019, coronavirus/COVID19 developments throughout 2020 are causing great uncertainty for the global economy. This uncertainty is creating risks that entities may not have encountered before, and gives rise to new and rapidly changing conditions that auditors may not have previously encountered. Required: Conduct research on the impact of coronavirus/COVID19 on external financial report audits, then answer the following questions:

5. What are the obligations of the auditor under section 311 of the Corporations Act 2001 in relation to solvency and going concern? (100 words).