This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide guidance to auditors reporting pursuant to section 308(3C) of the Corporations Act 2001 (“the Act”) regarding the Remuneration Report required to be included in the annual directors’ report pursuant to section 300A of the Act (“the Remuneration Report”).

This Guidance Statement should be used when an auditor conducts an audit under the Australian Auditing Standards applicable to financial reporting periods commencing on or after 1 January 2010.