This Auditing Standard applies to:
- an audit of a financial report for a financial year, or an audit of a financial report for a half‑year, in accordance with the Corporations Act 2001; and
- an audit of a financial report, or a complete set of financial statements, for any other purpose.
This Auditing Standard also applies, as appropriate, to an audit of other historical financial information.
Early adoption, in conjunction with ASA 540 Auditing Accounting Estimates and Related Disclosures, permitted.