Scope of this Auditing StandardScope of this Auditing Standard

Scope of this Auditing Standard

1. This Auditing Standard deals with additional communication in the auditor’s report when the auditor considers it necessary to:
   1. Draw users’ attention to a matter or matters presented or disclosed in the financial report that are of such importance that they are fundamental to users’ understanding of the financial report; or
   2. Draw users’ attention to any matter or matters other than those presented or disclosed in the financial report that are relevant to users’ understanding of the audit, the auditor’s responsibilities or the auditor’s report.
2. ASA 701[1] establishes requirements and provides guidance when the auditor determines key audit matters and communicates them in the auditor’s report. When the auditor includes a Key Audit Matters section in the auditor’s report, this Auditing Standard addresses the relationship between key audit matters and any additional communication in the auditor’s report in accordance with this Auditing Standard. (Ref: Para. A1–A3)
3. ASA 570[2] and ASA 720[3] establish requirements and provides guidance about communication in the auditor’s report relating to going concern and other information, respectively.
4. Appendices 1 and 2 of this Auditing Standard identify Australian Auditing Standards that contain specific requirements for the auditor to include Emphasis of Matter paragraphs or Other Matter paragraphs in the auditor’s report. In those circumstances, the requirements in this Auditing Standard regarding the form of such paragraphs apply. (Ref: Para. A4)