ASA 200 - Objective and General Principles Governing an Audit of a Financial Report - April 2006
Objective of an Audit of a Financial RepObjective of an Audit of a Financial Report
Start here
Get a plain-English read of Objective of an Audit of a Financial Rep
Turn the raw legal text into a practical explanation grounded in ASA 200 - Objective and General Principles Governing an Audit of a Financial Report - April 2006.
Objective of an Audit of a Financial Report
5 The objective of an audit of a financial report is to enable the auditor to express an opinion as to whether the financial report is prepared, in all material respects, in accordance with an applicable financial reporting framework.
6 In Australia, an applicable financial reporting framework that may be used in preparing a financial report is represented by the Australian Accounting Standards (including the Australian Accounting Interpretations) promulgated by the Australian Accounting Standards Board (“AASB”) and relevant legislation, such as the Corporations Act 2001, for entities covered by that Act, or other relevant legislation that may be applicable to other entities.