Auditing and Assurance Standards Board

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Revised standards have been issued as a result of Quality Management Standards and other pronouncements

The AUASB has revised a series of standards as a result of amendments arising from the new and revised Quality Management Standards, ASA 315 Identifying and Assessing the Risks of Material Misstatement and APES 110 Code of Ethics for Professional Accountants (including Independence Standards).


Perceptions of Audit Quality by Audit Committee Chairs in Australia

Audit Committee Chairs play an important role in the quality of financial reporting and audit quality. The FRC and AUASB commissioned independent research to gather perspectives on audit quality from a sample of ACCs. This builds on previously conducted surveys of ACCs (one in 2018 and another in 2020). This report has been authored by the independent researchers and details the feedback they received.

Pleasingly and importantly ACCs remain very satisfied with the quality of their external auditor. The results are consistent with previous surveys. 

Link to report


Supporting Auditors in Enhancing Audit Quality

The AUASB provides an update on our previously issued Supporting Auditors in Enhancing Audit Quality December 2021, in response to the recently issued Audit Inspection Report 30 June 2022 and ASIC’s Focus Areas for 31 December 2022.

This refers to previously issued standards and guidance which are still relevant, as well as revised standards which become effective for the December 2022 reporting period and recently issued guidance.


AASB-AUASB Joint Research Report on Climate-Related Disclosures and Assurance in the Annual Reports of ASX Listed Companies

The AASB-AUASB published a joint research report (authored by Jean You and Professor Roger Simnett) that identifies climate-related disclosures and associated assurance practices in Annual Reports of ASX-listed entities.


IAASB Guidance to assist auditors on IAS 1 changes

The IAASB has recently published new guidance to help auditors understand the impact on the ISAs due to narrow-scope amendments that have been made to IAS 1 Presentation of Financial Statements which require entities to disclose their material accounting policy information, instead of significant account policies. These amendments are effective for annual reporting periods beginning on or after 1 January 2023.


AUASB Roundtables to obtain feedback on Should KAMs be extended beyond listed entities and ED ISA 500 Audit Evidence

The AUASB is holding Roundtables in February 2023 to gather stakeholder’s views and input to the AUASB on:

Also to assist stakeholder’s understanding of the Consultation Paper ED ISA 500 Audit Evidence please view the introductory webinar.  




Access support materials pertaining to technology here.

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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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Group Audits

Access support materials pertaining to group audits 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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