Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 10.5.01

  (1)   For subsections   1455(1) and (3) of the Act:

  (a)   a standard (as in force from time to time) mentioned in the table has effect, for the purposes of the Act, as if it had been made by the AUASB under section   336 of the Act on 1   July 2004; and

  (b)   a standard mentioned in Part   1 of the table has effect as if it specified that it applies to a financial reporting period ending on or after 1   July 2004; and

  (c)   a standard mentioned in Part   2 of the table has effect as if it specified that it applies to a financial reporting period beginning on or after 15   December 2004; and

  (d)   a standard mentioned in Part   3 of the table has effect as if it specified that it applies to a financial reporting period beginning on or after 15   June 2005.

 

Item	AUS No.	Title
Part   1
101	104	Glossary of Terms
102	202	Objective and General Principles Governing an Audit of a Financial Report Note:   This standard was issued in July 2002.
103	204	Terms of Audit Engagements
104	206	Quality Control for Audit Work Note:   This standard was issued in July 2002.
105	208	Documentation
106	210	The Auditor's Responsibility to Consider Fraud and Error in an Audit of a Financial Report Note:   This standard was issued in January 2002.
107	212	Other Information in Documents Containing Audited Financial Reports
108	214	Auditing in a CIS Environment
109	218	Consideration of Laws and Regulations in an Audit of a Financial Report
110	302	Planning
111	304	Knowledge of the Business
112	306	Materiality and Audit Adjustments
113	402	Risk Assessments and Internal Controls Note:   This standard was issued in July 2002.
114	404	Audit Implications Relating to Entities Using a Service Entity
115	502	Audit Evidence Note:   This standard was issued in October 1995.
116	504	External Confirmations
117	506	Existence and Valuation of Inventory
118	508	Inquiry Regarding Litigation and Claims
119	510	Initial Engagements - Opening Balances
120	512	Analytical Procedures
121	514	Audit Sampling & Selective Testing Procedures
122	516	Audit of Accounting Estimates
123	518	Related Parties
124	520	Management Representations
125	522	Audit Evidence Implications of Externally Managed Assets of Superannuation, Provident or Similar Funds
126	524	The Auditor's Use of the Work of the Actuary and the Actuary's Use of the Work of the Auditor in Connection with the Preparation and Audit of a Financial Report
127	526	Auditing Fair Value Measurements & Disclosures
128	602	Using the Work of Another Auditor
129	604	Considering the Work of Internal Auditing
130	606	Using the Work of an Expert
131	702	The Audit Report on a General Purpose Financial Report
132	704	Comparatives
133	706	Subsequent Events
134	708	Going Concern
135	710	Communication with Management on Matters Arising from an Audit
136	802	The Audit Report on Financial Information Other than a General Purpose Financial Report
137	902	Review of Financial Reports
Part   2
201	202	Objective and General Principles Governing an Audit of a Financial Report Note:   This standard was issued in February 2004.
201A	210	The Auditor's Responsibility to Consider Fraud and Error in an Audit of a Financial Report Note:   This standard was issued in June 2004.
202	402	Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatements Note:   This standard was issued in February 2004.
203	406	The Auditor's Procedures In Response to Assessed Risks
204	502	Audit Evidence Note:   This standard was issued in February 2004.
Part   3
301	206	Quality Control for Audits of Historical Financial Information Note:   This standard was issued in June 2004.

  (2)   In this regulation:

"financial reporting period" , for a company, registered scheme or disclosing entity, means a financial year or a half - year for which the company, registered scheme or disclosing entity must prepare a financial report.

Note:   Under section   292 of the Act, a disclosing entity, public company, large proprietary company or registered scheme must prepare a financial report for each financial year. Under section   302 of the Act, a disclosing entity must prepare a financial report for each half - year. Section   323D of the Act deals with financial years and half - years.

  (3)   Each standard mentioned in subregulation   (1) ceases to have effect in relation to a financial reporting period that ends after 29   June 2007.