For the purposes of this Auditing Standard on Review Engagements, the following terms have the meanings attributed below:
A company limited by guarantee means a company limited by guarantee whose obligations are set out in section 285A of the Act.
A registered company auditor includes an individual who meets the requirements of section 324BE of the Act.
Revised Legislation means Corporations Amendment (Corporate Reporting Reform) Act 2010.
The term “auditor” as used in this Auditing Standard on Review Engagements, refers to a registered company auditor or an individual:
- taken to be a registered company auditor under section 324BE of the Act; and/or
- permitted under the ACNC Act to conduct reviews of a financial report; and/or
- permitted to conduct reviews of a financial report under other applicable legislation or regulation.
The term “financial report”, as used in this Auditing Standard on Review Engagements, refers to a financial report for a financial year. A financial report for a financial year may be for a period that is greater than or less than 12 months.