Application
1
This Guidance Statement has been formulated by the Auditing and Assurance Standards Board (AUASB) to provide guidance to auditors to interpret, discharge and report under Item 21 of Annexure 1 to the Franchising Code of Conduct[1] (the “Franchising Code”).
1
The Franchising Code of Conduct came into operation on 1 July 1998 and the revised Competition and Consumer (Industry Code – Franchising) Regulation 2014 (issued Oct 2014) is applicable from 1 January 2015. A copy of the Code is available from the Australian Competition and Consumer Commission (ACCC) website (http://www.accc.gov.au).