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 …

This Auditing Standard also applies, as appropriate, to an audit of other historical financial information. …

This Auditing Standard is operative for financial reporting periods commencing on or after 15 December 2021. Early adoption of this Auditing Standard is permitted prior to this date.  [Note: For operative dates of paragraphs changed or added by an …

This Auditing Standard deals with the auditor’s responsibility to identify and assess the risks of material misstatement in the financial report. …

ASA 200 deals with the overall objectives of the auditor in conducting an audit of the financial report, [1]   including to obtain sufficient appropriate audit evidence to reduce audit risk to an acceptably low level. [2] Audit risk is a function of the …

ASA 200 requires the auditor to exercise professional judgement in planning and performing an audit, and to plan and perform an audit with professional scepticism recognising that circumstances may exist that cause the financial report to be materially …

Risks at the financial report level relate pervasively to the financial report as a whole and potentially affect many assertions. Risks of material misstatement at the assertion level consist of two components, inherent and control risk: Inherent risk is …