Colorectal cancer is a common condition in Australia, affecting 1 in 20 people, particularly between ages 55 and 75. Colonoscopy is the primary test for detecting colorectal cancer, allowing for inspection, biopsy, and potential polyp removal, though it requires thorough bowel preparation to ensure effectiveness. The procedure is generally safe with a low complication risk, including a 1 in 1000 chance of bowel perforation.