Document ID: chunk:federal_register_of_legislation:F2025L00106:body:0:p9
Version: federal_register_of_legislation:F2025L00106
Segment Type: other
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Character Range: 25271–28580

that have become effective since the principal standard was originally made.[29] Compilations are a requirement of the Legislation Act 2003 and are required to be lodged with the Office of Parliamentary Counsel for registration on the Federal Register of Legislation. A compilation is not a legislative instrument.

     2.          Where the AUASB issues a compiled version of a standard:

          1.                 the title page of the standard indicates that it is a compiled version of the standard and shows the date of the compilation and the relevant Amending Standards that have been taken into account;

          2.                 a "Compilation Details" section is included in the standard which includes the following information:

              1.                  a "Table of Standards", which sets out details of both the principal standard and subsequent Amending Standards, including the dates of both the principal and Amending Standards (date made, operative date and date registered on the Federal Register of Legislation);

              2.                a "Table of Amendments", which provides details of amendments to the principal standard (paragraph of standard affected, how affected and a paragraph reference to the relevant Amending Standard); and

              3.              a statement that the compilation is not a separate Auditing Standard made by the AUASB but a representation of the relevant Standard which incorporates the original standard and subsequent amendments.

          1.                 the Operative Date paragraph in the standard includes a reference to the Compilations Details section of the standard, for details about the operative dates of paragraphs changed or added by an Amending Standard. (Ref: Para. A33(a))

Authority of the Paragraphs in AUASB Standards (Ref: Para. 12-13)

     1.          The paragraphs in AUASB Standards do not have equal authority.  AUASB Standards consist of paragraphs that are either:

             1.                 mandatory components; or

             1.                 explanatory material.

     2.          Where an AUASB Standard does not include specific information to explain the status and authority of the paragraphs included within the standard, the terms explained below (for example, "Objectives", "Requirements", "Application and Other Explanatory Material"), are to be interpreted in a directly analogous way to how they are explained in the context of financial report audits in ASA 200.

Mandatory Components (Ref: Para. 12)

"Application" Paragraphs (Ref: Para. 12(a), 13(b))

     1.          Each AUASB Standard contains a mandatory "Application" paragraph. The standard may also include an additional "Application" paragraph that forms part of the explanatory material of the standard, to describe other engagements the standard may be applied to, adapted as necessary.

     2.          The "Application" paragraph or paragraphs of a standard identify the scope of the standard.

Engagements under the Corporations Act

     1.          Auditing Standards made under section 336 of the Corporations Act[30] contain a mandatory "Application" paragraph (shown as paragraph "Aus 0.1") relating to for example:

             1.                 an audit of a financial report for a financial