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24 May. 2017

ED 01/17 Performance Engagements – comments invited

This proposed ASAE establishes requirements and provides application material regarding the conduct of and reporting on assurance engagements on performance. The standard replaces the existing ASAE 3500 Performance Engagements, last revised and issued by the AUASB in October 2008.

This proposed ASAE facilitates conformity with current AUASB Standards and revised ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information issued in June 2014. The draft standard reflects best practice in performance engagements and clarifies how to scope, conduct and report on an assurance engagement on performance.

The changes arising from this ED will be operative for assurance engagements commencing on or after 1 January 2018, with early adoption permitted prior to this date.

The AUASB seeks feedback from practitioners in the private and public sectors. Comment letters (Word and PDF files) should be lodged with the AUASB via the AUASB website. (PDF documents will subsequently appear on this website, unless comments are marked as confidential. Word documents are for internal use only.)

Please forward your comments no later than 21 July 2017.