Auditing and Assurance Standards Board

Latest News

AUASB highlights for meeting 141 now available

Highlights for AUASB Board Meeting 141 on 19 February 2024 now available, click here to view.

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AUASB Consultation on IAASB exposure draft – revised ISA 240 on Fraud

The AUASB has released a Consultation Paper seeking public comment by 21 May 2024 on the IAASB’s Exposure Draft on Proposed ISA 240 (Revised). The proposed revisions aim to strengthen the auditors’ responsibilities related to fraud by defining the expectations in relation to fraud and increasing transparency about the auditors’ responsibilities and fraud-related procedures in the auditor’s report.

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Public Papers and Agenda are now available for AUASB meeting 141 are now available

The Public Agenda and Papers for AUASB Meeting 141 to be held on 19 February 2024 is now available. 

Public gallery attendance will be by videoconference only.  Members of the public wishing to join the public sessions must register their interest by COB Friday 16 February 2024, by emailing [email protected], detailing:

  • Name
  • Entity
  • Email address and
  • The Agenda Number for the sessions they wish to observe.

 

Only attendees that have pre-registered will be provided with registration details to join the Zoom videoconference.

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Congratulations to former AUASB Chair, Ms Merran Kelsall, on her induction into the Australian Accounting Hall of Fame

The Office of the Auditing and Assurance Standards Board (AUASB) congratulates Ms. Merran Kelsall AO on her induction into the 2024 Australian Accounting Hall of Fame. Ms. Kelsall’s induction recognises her outstanding contribution to the accounting and auditing profession over 45 years.

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AUASB Consultation on IAASB ED as a result of revisions to PIE definitions

The AUASB has released a Consultation Paper seeking public comment on the IAASB’s Exposure Draft on  proposed narrow scope amendments for audits of Public Interest Entities (PIEs). The proposed revisions have two key objectives. First, they would align definitions and requirements in IAASB standards with new definitions for publicly traded and public interest entities in the IESBA Code. Second, the amendments would extend the applicability of existing differential requirements for listed entities to meet heightened stakeholder expectations regarding audits of public interest entities (PIE).

In addition to the invitation to comment on the Consultation Paper, the AUASB is hosting a Virtual Roundtable on 5 March to take stakeholders through the key proposals of the IAASB ED, and to provide stakeholders an opportunity to provide feedback directly to the AUASB.

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FRC reappoints AUASB Board Members

AUASB Chair, Mr Doug Niven, welcomed the reappointment of the following three members of the Auditing and Assurance Standards Board, as announced by the Financial Reporting Council (FRC).

These members have been reappointed on a part-time basis for a term to commence 1 January 2024 and end on 30 June 2026.

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Resources

Open for Comment

AUASB Consultation Paper on IAASB Exposure of the IAASB’s Proposed ISSA 5000 General Requirements for
Sustainability Assurance Engagements; and Proposed Conforming and Consequential Amendments to Other IAASB Standards

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Sustainability & Other Extended External Reporting (EER) Assurance

Access support materials pertaining to sustainability & other extended external reporting (EER) assurance here.

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Audit Quality

Access support materials pertaining to audit quality here.

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Technology

Access support materials pertaining to technology here.

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Quality Management Standards

Access support materials pertaining to quality management standards here.

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Not for Profit

Access support materials pertaining to not for profit here.

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