Document ID: chunk:federal_register_of_legislation:F2023C01140:front:0:p2
Version: federal_register_of_legislation:F2023C01140
Segment Type: other
Provision Reference: 
Character Range: 2940–7149

CONTENTS

COMPILATION DETAILS

AUTHORITY STATEMENT

CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

Application.............................................................Aus 0.1‑Aus 0.2

Operative Date............................................................Aus 0.3

Introduction

Scope of this Auditing Standard..................................................1‑4

Effective Date...............................................................5

Objectives..................................................................6

Definitions.................................................................7‑Aus 9.1

Requirements

Forming an Opinion on the Financial Report.........................................10‑15

Form of Opinion.............................................................16‑19

Auditor's Report.............................................................20‑52

Supplementary Information Presented with the Financial Report...........................53‑54

Application and Other Explanatory Material

Qualitative Aspects of the Entity's Accounting Practices................................A1‑A3

Accounting Policies Appropriately Disclosed in the Financial Report......................A4

Information Presented in the Financial Report Is Relevant, Reliable, Comparable and UnderstandableA5

Disclosures of the Effect of Material Transactions and Events on the Information Conveyed in the Financial Report              A6

Evaluating Whether the Financial Report Achieves Fair Presentation.......................A7‑A9

Description of the Applicable Financial Reporting Framework...........................A10‑A15

Form of Opinion............................................................A16‑A17

Auditor's Report............................................................A18‑A77

Supplementary Information Presented with the Financial Report..........................A78‑A84

Appendix: Illustrations of Independent Auditor's Reports on Financial Reports

COMPILATION DETAILS

Auditing Standard ASA 700 Forming an Opinion and Reporting on a Financial Report (as Amended)

This compilation takes into account amendments made up to and including 15 March 2023 and was prepared on 31 March 2023 by the Auditing and Assurance Standards Board (AUASB).

This compilation is not a separate Auditing Standard made by the AUASB.  Instead, it is a representation of ASA 700 (December 2015) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard            Date made         Operative Date
ASA 700 [A]         1 December 2015   Financial reporting periods ending on or after 15 December 2016
ASA 2017‑1 [B]      30 May 2017       Financial reporting periods ending on or after 15 December 2016
ASA 2018-1 [C]      5 December 2018   Financial reporting period commencing on or after
                                      15 December 2019, with early adoption permitted[*]
ASA 2020-2 [D]      30 June 2020      Financial reporting periods ending on or after 15 July 2020
ASA 2021-3 [E]      7 September 2021  Financial reporting periods commencing on or after 1 October 2021
ASA 2020-1 [F]      3 March 2020      Financial reporting periods commencing on or after 15 December 2021[#]
ASA 2021-1 [G]      10 March 2021     Financial reporting periods commencing on or after 15 December 2022
ASA 2023-1 [H]      15 March 2023     Financial reporting periods commencing on or after 1 January 2023
ASA 2022-1     [I]  27 April 2022     Financial reporting periods commencing on or after 15 December 2023

Legislation History

Standard    Registration Number  Registration Date  Commencement Date

ASA 700     F2015L02013          15 December 2015   16 December 2015

ASA 2017‑1  F2017L00693          19 June 2017       20 June 2017

ASA 2018-1  F2019L00016          3 January 2019     4 January 2019

ASA 2020-2  F2020L00885          7 July 2020        8 July 2020

ASA 2021-3  F2021L01294          17 September 2021  18 September 2021

ASA 2020-1  F2020L00252          13 March 2020      14 December 2021

ASA 2021-1  F2021L00403          1 April 2021       14 December 2022

ASA 2023-1  F2023L00295          21 March 2023