IntroductionIntroduction

Auditing Standard ASA 200

The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 27 October 2009.

This compiled version of ASA 200 incorporates subsequent amendments contained in other Auditing Standards made by the AUASB up to and including 12 November 2025 (see Compilation Details).

Auditing Standard ASA 200

Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards

Application

Aus 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 commencing on or after 1 January 2010. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]

Introduction

Scope of this Auditing Standard

1. This Auditing Standard deals with the independent auditor’s overall responsibilities when conducting an audit of a financial report in accordance with Australian Auditing Standards. Specifically, it sets out the overall objectives of the independent auditor, and explains the nature and scope of an audit designed to enable the independent auditor to meet those objectives. It also explains the scope, authority and structure of the Australian Auditing Standards, and includes requirements establishing the general responsibilities of the independent auditor applicable in all audits, including the obligation to comply with the Australian Auditing Standards. The independent auditor is referred to as “the auditor” hereafter.

2. Australian Auditing Standards are written in the context of an audit of a financial report by an auditor. They are to be applied as necessary in the circumstances to audits of other historical financial information. Australian Auditing Standards do not address the responsibilities of the auditor that may exist in legislation, regulation or otherwise in connection with, for example, the offering of securities to the public. Such responsibilities may differ from those established in the Australian Auditing Standards. Accordingly, while the auditor may find aspects of the Australian Auditing Standards helpful in such circumstances, it is the responsibility of the auditor to ensure compliance with all relevant legal, regulatory or professional obligations.