The AUASB is an independent statutory board of the Australian Government established under section 227A of the Australian Securities and Investments Commission Act 2001, as amended (ASIC Act), whose functions include:
(a) making auditing standards under section 336 of the Corporations Act 2001;
(b) formulating auditing and assurance standards for other purposes; and
(c) formulating guidance on auditing and assurance matters.
- Framework Pronouncements
The Framework Pronouncements provide information regarding the AUASB, its operations and the pronouncements it issues.
- AUASB Standards
AUASB Standards establish requirements and provide application and other explanatory material on the responsibilities of the auditor and the assurance practitioner, as appropriate, in audit, review, assurance and related services engagements.
- Guidance Statements
Guidance Statements provide guidance to assist the auditor to fulfil the objectives of an audit or assurance engagement. They include explanatory details and suggested procedures on specific matters for the purposes of understanding and complying with AUASB standards.