Application

1

This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide guidance to auditors when using the work of a management’s expert as audit evidence in relation to:

  1. the audit of a financial report, in accordance with the Corporations Act 2001;
  2. the audit of a financial report[1] for any other purpose; and
  3. the audit of other historical financial information.

2

This Guidance Statement provides guidance that may be considered and adapted as necessary in the circumstances, to non-historical information assurance engagements but is not a substitute for referring to the requirements and application material contained in ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information.

1

For purposes of this Guidance Statement, where the term financial report is used, this includes reference to a complete set of financial statements for any other purpose. Additionally, reference to ‘Company’ in this Guidance Statement, includes any entity subject to audit.