For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
Comparative information means the amounts and disclosures included in the financial report in respect of one or more prior periods in accordance with the applicable financial reporting framework.
Corresponding figures mean comparative information where amounts and other disclosures for the prior period are included as an integral part of the current period financial report, and are intended to be read only in relation to the amounts and other disclosures relating to the current period (referred to as “current period figures”). The level of detail presented in the corresponding amounts and disclosures is dictated primarily by its relevance to the current period figures.
Comparative financial reports means comparative information where amounts and other disclosures for the prior period are included for comparison with the financial report of the current period but, if audited, are referred to in the auditor’s opinion. The level of information included in those comparative financial reports is comparable with that of the financial report of the current period.
In accordance with the applicable financial reporting framework of the Corporations Act 2001 and Australian Accounting Standards, comparative information refers to corresponding figures.
For purposes of this Auditing Standard, references to “prior period” should be read as “prior periods” when the comparative information includes amounts and disclosures for more than one period.