Document ID: chunk:federal_register_of_legislation:F2022C01208:reg:14:p4
Version: federal_register_of_legislation:F2022C01208
Segment Type: reg
Provision Reference: reg 14 (pt 4/57)
Character Range: 18711–21830

Comparatives (Ref: Para. A28 to A31).

    3.                   This Auditing Standard provides illustrative examples that differ in form and content from those contained in ISRE 2410, namely:

           * An engagement letter (Appendix 1).

           * A written representation letter (Appendix 1).

           * The auditor's unmodified review reports
             (Appendices 3 and 4).

           * The auditor's modified review reports (Appendix 4).

    4.                   This Auditing Standard provides illustrative detailed procedures that may be performed in an engagement to review a financial report that are not contained in ISRE 2410 (Appendix 2).

Compliance with this Auditing Standard on Review Engagements enables compliance with ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity to the extent described above.

Auditing Standard on Review Engagements ASRE 2410

The Auditing and Assurance Standards Board (AUASB) made Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity  pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 9 June 2020.

This compiled version of ASRE 2410 incorporates subsequent amendments contained in another Auditing Standard made by the AUASB up to and including 13 December 2022 (see Compilation Details).

Auditing Standard on Review Engagements ASRE 2410

Review of a Financial Report Performed by the Independent Auditor of the Entity

Application

      1. This Auditing Standard on Review Engagements applies to:

(a)                a review by the auditor of the entity, of a financial report for a half‑year, in accordance with the Corporations Act 2001; and

(b)                a review, by the auditor of the entity, of a financial report, or a complete set of financial statements, comprising historical financial information, for any other purpose.

Operative Date

2.                   This Auditing Standard on Review Engagements is operative for financial reporting periods commencing on or after 1 July 2020 with early adoption permitted. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]

Introduction

Scope of this Auditing Standard on Review Engagements

3.                   This Auditing Standard on Review Engagements (Auditing Standard) deals with the auditor's responsibilities when an auditor undertakes an engagement to review a financial report of an audit client, and on the form and content of the auditor's review report.  The term "auditor" is used throughout this Auditing Standard, not because the auditor is performing an audit function but because the scope of this Auditing Standard is limited to a review of a financial report performed by the auditor of the financial report of the entity.

Objective

4.                   The objective of the auditor is to plan and perform the review to enable the auditor to express a conclusion whether, on the basis