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ASA 101 - Preamble to Australian Auditing Standards - October 2009
Authority of the Paragraphs in AustraliaAuthority of the Paragraphs in Australian Auditing Standards
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Authority of the Paragraphs in Australian Auditing Standards
- The auditor shall apply the mandatory components of the Australian Auditing Standards when conducting an audit or review in accordance with those Standards. The mandatory components are included in each Auditing Standard under the headings listed below:
(i) Application (paragraph Aus 0.1).
(ii) Operative Date.
(iii) Objective(s).
(iv) Definition(s).
(v) Requirements.
- The auditor shall consider the whole text of an Auditing Standard to understand, interpret and apply the mandatory components. The explanatory material is included in each Auditing Standard under the headings listed below:
(i) Application (paragraph Aus 0.2).
(ii) Introduction.
(iii) Application and Other Explanatory Material.
(iv) Conformity with International Standards on Auditing.
(v) Appendices.
Explanatory material does not create or extend mandatory components. (Ref: Para. A1)