Document ID: chunk:federal_register_of_legislation:F2023C01138:reg:4:p2
Version: federal_register_of_legislation:F2023C01138
Segment Type: reg
Provision Reference: reg 4 (pt 2/43)
Character Range: 10351–13365

0.1 This Auditing Standard applies to:

             (a) an audit of a financial report for a financial year, or an audit of a financial report for a half‑year, in accordance with the Corporations Act 2001; and

             (b) an audit of a financial report, or a complete set of financial statements, for any other purpose.

         Aus 0.2 This Auditing Standard also applies, as appropriate, to an audit of other historical financial information.

Operative Date

         Aus 0.3 This Auditing Standard is operative for financial reporting periods ending on or after 15 December 2016.  [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]

Introduction

Scope of this Auditing Standard

      1. This Australian Standard on Auditing deals with the auditor's responsibilities relating to other information, whether financial or nonfinancial information (other than the financial report and the auditor's report thereon), included in an entity's annual report.  An entity's annual report may be a single document or a combination of documents that serve the same purpose.

      2. This Auditing Standard is written in the context of an audit of a financial report by an independent auditor.  Accordingly, the objectives of the auditor in this Auditing Standard are to be understood in the context of the overall objectives of the auditor as stated in paragraph 11 of ASA 200.[1]  The requirements in the Australian Auditing Standards are designed to enable the auditor to achieve the objectives specified in the Australian Auditing Standards, and thereby the overall objectives of the auditor.  The auditor's opinion on the financial report does not cover the other information, nor does this Auditing Standard require the auditor to obtain audit evidence beyond that required to form an opinion on the financial report.

      3. This Auditing Standard requires the auditor to read and consider the other information because other information that is materially inconsistent with the financial report or the auditor's knowledge obtained in the audit may indicate that there is a material misstatement of the financial report or that a material misstatement of the other information exists, either of which may undermine the credibility of the financial report and the auditor's report thereon.  Such material misstatements may also inappropriately influence the economic decisions of the users for whom the auditor's report is prepared.

      4. This Auditing Standard may also assist the auditor in complying with relevant ethical requirements[2][*] that require the auditor to avoid being knowingly associated with information that the auditor believes contains a materially false or misleading statement, statements or information provided recklessly, or omits or obscures required information where such omission or obscurity would be misleading.

      5. Other information may include amounts or other items that are intended to be the same as,