Auditing Standard ASA 101 Preamble to AUASB Standards
Auditing Standards made under Section 33Auditing Standards made under Section 336 of the Corporations Act
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Auditing Standards made under Section 336 of the Corporations Act
A5. Auditing Standards made under section 336 of the Corporations Act apply to:
(a) an audit of a financial report for a financial year, or an audit or review[19] of a financial report for a half-year, prepared in accordance with Part 2M.3 of the Act;
(b) an audit conducted under Part 7.8 of the Act;
(c) an audit of a financial report, or a complete set of financial statements, prepared for any other purpose;
(d) a review, by the independent auditor of the entity, of a financial report, or a complete set of financial statements, comprising historical financial information, for any other purpose; and
(e) a firm required to comply with ASQM 1.
A6. Although Auditing Standards are written mainly in the context of an external audit of a financial report,[20] they apply also, adapted as necessary, to the audit of other historical financial information.