DefinitionsDefinitions

Definitions

1. For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
   1. An interim financial report means a financial report that is prepared in accordance with an applicable financial reporting framework[1] for a period that is shorter than the entity’s financial year.
   2. A financial report means a complete set of financial statements including the related notes and an assertion statement by those responsible for the financial report. The related notes ordinarily comprise a summary of significant accounting policies and other explanatory information. The requirements of the applicable financial reporting framework determine the form and content of the financial report. For example, a financial report, as defined under section 303 of the Corporations Act 2001 consists of financial statements for the half‑year, notes to the financial statements and the directors’ declaration about the statements and notes.
   3. An applicable financial reporting framework means a financial reporting framework that is designed to achieve fair presentation.