Main Features 
This Auditing Standard:

1. establishes mandatory requirements and provides explanatory guidance on the form and content of the auditor’s report issued in connection with the audit of a general purpose financial report prepared in accordance with a financial reporting framework designed to achieve fair presentation;
 

2. provides explanatory guidance on the matters the auditor ordinarily considers in forming an opinion on the financial report;
 

3. establishes mandatory requirements and provides explanatory guidance on the auditor’s reporting on other reporting responsibilities in addition to the auditor’s opinion on the financial report;
 

4. establishes mandatory requirements and provides explanatory guidance on the auditor’s performance and reporting responsibilities when the audit has been conducted in accordance with both Australian Auditing Standards and International Standards on Auditing (“ISAs”); and
 

5. establishes mandatory requirements and provides explanatory guidance on the auditor’s responsibilities with respect to supplementary financial report information included with the financial report that is not required by the financial reporting framework.