9 May. 2012
The AUASB invites comments on exposure draft ED 01/12 of proposed Standard on Assurance Engagements, ASAE 3410 Assurance Engagements on Greenhouse Gas Statements, which conforms with proposed ISAE 3410. The AUASB requests comments by 8 June 2012.... Read more
1 Mar. 2012
The AUASB has released the Highlights from its 27 February 2012 meeting.... Read more
2 Dec. 2011
Australia’s auditing and assurance standards setter, the Auditing and Assurance Standards Board (AUASB), today questioned whether proposed changes to European audit regulation will achieve their stated objective of improving audit quality.... Read more
26 Oct. 2011
AUASB Guidance Statement GS 007 Audit Implications of the Use of Service Organisations for Investment Management Services has been revised and reissued to anchor to the current AUASB Standards. The revised GS 007, which is operative for periods commencing 1 January 2012, provides guidance for user auditors and service auditors where investment management services are provided to user entities, including revised minimum control objectives to be addressed in controls reporting... Read more
30 Sep. 2011
The Auditing and Assurance Standard Board (AUASB) today released exposure drafts of proposed Standards ED 02/11 ASAE 3450 Assurance Engagements involving Corporate Fundraisings and/or Prospective Financial Information and ED 03/11 ASRS 4450 Comfort Letter Engagements, with comments from constituents invited by 15 November 2011. Both proposed Standards are written in “clarity” format in a similar manner to other newer AUASB Standards.... Read more
9 Sep. 2011
The Financial Reporting Council is seeking applications from interested persons for appointment as a member of the AUASB. Applications are sought by 7 October 2011.... Read more
31 Aug. 2011
AUASB Guidance Statement GS 009 Auditing Self-Managed Superannuation Funds (SMSFs), which was first issued in 2008 to assist SMSF auditors in conducting SMSF audits, has been revised by the AUASB. The updated Guidance Statement will assist SMSF auditors in complying with the new Auditing Standards and ATO requirements released since GS 009 was initially issued.... Read more
1 Aug. 2011
User and service auditors using GS 007 for reporting on controls over investment management services need to ensure they are meeting the requirements of ASA 402 and ASAE 3402, as these new standards are both operative for the year ended 30 June 2011 and take precedence over GS 007.... Read more
20 Jul. 2011
The AUASB has issued a new Auditing Standard, ASA 2011-1 Amendments to Australian Auditing Standards operative for financial reporting periods commencing on and after 1 July 2011 with early adoption permitted. ... Read more
29 Jun. 2011
Merran Kelsall, Chairman of the Auditing and Assurance Standards Board (AUASB) endorsed the findings of the Australian Securities and Investments Commission (ASIC) audit inspection report for 2009-10. The inspection program is primarily concerned with practitioners’ compliance with the Australian Auditing Standards in undertaking financial statement audits.... Read more
8 Jun. 2011
The AUASB has issued a new standard, ASRS 4400 Agreed-Upon Procedures Engagements to Report Factual Findings, to better clarify for assurance practitioners when to accept, how to perform and what to report on agreed-upon procedures engagements.... Read more
18 May. 2011
The AUASB invites comments on the International Auditing and Assurance Standards Board’s (IAASB) consultation paper: Enhancing the Value of Auditor Reporting: Exploring Options for Change, to assist it in preparing a submission to the IAASB.... Read more
3 May. 2011
The AUASB invites comments on the International Auditing and Assurance Standards Board’s (IAASB) proposed International Standard on Assurance Engagements ISAE 3000 Assurance Engagements Other Than Audits or Reviews of Historical Financial Information, to assist it in preparing a submission to the IAASB.... Read more
21 Apr. 2011
The AUASB has issued Guidance Statement GS 019 Auditing Fundraising Revenue of Not-for-Profit Entities on 21 April 2011, which replaces AGS 1054 Auditing Revenue of Charitable Entities, issued in July 2002.... Read more
21 Apr. 2011
The AUASB has released the Highlights from its 18-19 April 2011 meeting.... Read more
20 Apr. 2011
The AUASB has released ED 01/11 Proposed Auditing Standard ASA 2011-1 Amendments to Australian Auditing Standards for comment by no later than 23 May 2011.... Read more
28 Mar. 2011
The AUASB invites comments on the International Auditing and Assurance Standards Board’s (IAASB) proposed International Standard on Review Engagements ISRE 2400 (Revised) Engagements to Review Historical Financial Statements, to assist it in preparing a submission to the IAASB.... Read more
28 Mar. 2011
The AUASB invites comments on the International Auditing and Assurance Standards Board’s (IAASB) Discussion Paper “The Evolving Nature of Financial Reporting: Disclosure and Its Audit Implications”, to assist it in preparing a response to the IAASB.... Read more
15 Mar. 2011
The AUASB invites comments on the International Auditing and Assurance Standards Board’s (IAASB) proposed International Standard on Assurance Engagements ISAE 3410 Assurance Engagements on Greenhouse Gas Statements, to assist it in preparing a submission to the IAASB.... Read more
9 Mar. 2011
AGS 1036 The Consideration of Environmental Matters in the Audit of a Financial Report has been withdrawn with immediate effect as part of the AUASB’s program to clear all out-dated pronouncements. The AUASB will consider issuance of a new Guidance Statement once the outcome of the Australian Government’s proposed carbon emissions scheme is known and once an equivalent standard to proposed ISAE 3410 Assurance Engagements on Greenhouse Gas Statements is issued in Australia.... Read more