This Auditing Standard on Review Engagements deals with the responsibilities of the auditor to review the financial report of:

1. A company limited by guarantee that has elected, under section 301(3) of the Act, to have its financial report reviewed instead of audited. It also deals with the form and content of the review report, which is based on the example review reports contained within existing review standards.^[1]
2. An entity that has elected, under the ACNC Act, to have its financial report reviewed instead of audited.
3. An entity required to report under other applicable legislation or regulation.

This Auditing Standard on Review Engagements does not apply to the review of a half‑year financial report under the Act.  Refer ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity, as amended.