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Exposure drafts 2005

Group 5 Exposure Drafts, released 16 December 2005

AUASB Exposure Drafts of proposed re-issued Auditing Standards (Group 5, released 16 December 2005. Submissions close 31 January 2006)

No. Title
ED 33/05 AUS 306 Materiality and Audit Adjustments (Re-issuance of AUS 306)
ED 34/05 AUS 710 Communication of Audit Matters With Those Charged With Governance (Re-issuance of AUS 710)
ED 35/05 AUS 802 The Auditor’s Report on Special Purpose Audit Engagements (Re-issuance of AUS 802)
ED 36/05 ASRE 2410 Review of an Interim Financial Report Performed by the Independent Auditor of the Entity
  Explanatory Guidance

Submissions received by the AUASB (in order of receipt date) on Group 4 and Group 5 Exposure Drafts

No. Title
1. CPA Australia (Group 4 & 5 submissions)
2. Institute of Internal Auditors - Australia (ED 31/05 submission)
3. William Buck (Group 4 & 5 submissions)
4. The Institute of Chartered Accountants in Australia (ICAA) (Group 4 & 5 submissions)
5. Auditing Standards Response Group (Group 4 & 5 submissions)
6. Deloitte (Group 4 & 5 submissions)
7.1 Australasian Council of Auditors-General (Group 4 submission)
7.2 Australasian Council of Auditors-General (Group 5 submission)
9. ASIC staff (Group 2, 3, 4 and 5) - confidential submission
10. The National Institute of Accountants (NIA) (Group 4 submission)
12. PricewaterhouseCoopers (Group 4 & 5 submissions)

Group 4 Exposure Drafts, released 9 December 2005

AUASB Exposure Drafts of proposed re-issued Auditing Standards (Group 4, released 9 December 2005. Submissions close 31 January 2006)

No. Title
ED 27/05 AUS 508 Inquiry Regarding Litigation and Claims (Re-issuance of AUS 508)
ED 28/05 AUS 514 Audit Sampling and Other Means of Testing (Re-issuance of AUS 514)
ED 29/05
AUS 516 Audit of Accounting Estimates (Re-issuance of AUS 516)
ED 30/05 AUS 602 Using the Work of Another Auditor (Re-issuance of AUS 602)
ED 31/05 AUS 604 Considering the Work of Internal Audit (Re-issuance of AUS 604)
ED 32/05 AUS 704 Comparatives (Re-issuance of AUS 704)

Submissions received by the AUASB (in order of receipt date) on Group 4 and Group 5 Exposure Drafts

No. Title
1. CPA Australia (Group 4 & 5 submissions)
2. Institute of Internal Auditors - Australia (ED 31/05 submission)
3. William Buck (Group 4 & 5 submissions)
4. The Institute of Chartered Accountants in Australia (ICAA) (Group 4 & 5 submissions)
5. Auditing Standards Response Group (Group 4 & 5 submissions)
6. Deloitte (Group 4 & 5 submissions)
7.1 Australasian Council of Auditors-General (Group 4 submission)
7.2 Australasian Council of Auditors-General (Group 5 submission)
9. ASIC staff (Group 2, 3, 4 and 5) - confidential submission
10. The National Institute of Accountants (NIA) (Group 4 submission)
12. PricewaterhouseCoopers (Group 4 & 5 submissions)

Group 3 Exposure Drafts, released 16 November 2005

AUASB Exposure Drafts of proposed re-issued Auditing Standards (Group 3, released 16 November 2005. Submissions close 30 December 2005)

No. Title
ED 24/05
Proposed Auditing Standard: The Independent Auditor's Report on a General Purpose Financial Report (Re-issuance of AUS 702) Part A
ED 25/05 Proposed Auditing Standard: Modifications to the Independent Auditor's Report (Re-issuance of AUS 702) Part B
ED 26/05 Proposed Auditing Standard: Related Parties (Re-issuance of AUS 518)

Submissions received by the AUASB (in order of receipt date) on Group 2 and Group 3 Exposure Drafts

No. Title
1. National Institute of Accountants (NIA) (Group 2 and 3 submissions)
2. The Institute of Chartered Accountants in Australia (ICAA) (Group 2 and 3 submissions)
3. Auditing Standards Response Group (Group 2 and 3 submissions)
4. CPA Australia (Group 2 submission)
5. Deloitte (Group 2 submission)
6. KPMG (Group 2 submission)
7. Australasian Council of Auditors-General (ACAG) (Group 2 submission)
8. Australasian Council of Auditors-General (ACAG) (Group 3 submission)
9. Deloitte (Group 3 submission)
10. Pitcher Partners (Group 2 submission)
11. PricewaterhouseCoopers (Group 2 & 3 submissions)
12. CPA Australia (Group 3 submission)
13. KPMG (Group 3 submission)
14. William Buck (Group 2 & 3 submissions)
15. ASIC staff (Group 2, 3, 4 and 5) - confidential submission

Group 2 Exposure Drafts, released 28 October 2005

AUASB Exposure Drafts of proposed re-issued Auditing Standards (Group 2, released 28 October 2005. Submissions close 15 December 2005)

No. Title
ED 06/05 Proposed Foreword to AUASB Pronouncements
ED 07/05 Proposed Auditing Standard: Preamble to AUASB Standards
ED 08/05 Proposed Auditing Standard: Objective and General Principles Governing an Audit of a Financial Report (Re-issuance of AUS 202)
ED 09/05 Proposed Auditing Standard: Terms of Audit Engagements (Re-issuance of AUS 204)
ED 10/05 Proposed Auditing Standard: Quality Control for Audits of a Financial Report (Re-issuance of AUS 206)
ED 11/05 Proposed Auditing Standard: Audit Documentation (Re-issuance of AUS 208)
ED 12/05 Proposed Auditing Standard: The Auditor's Responsibility to Consider Fraud in an Audit of a Financial Report (Re-issuance of AUS 210)
ED 13/05 EProposed Auditing Standard: Other Information in Documents Containing Audited Financial Reports (Re-issuance of AUS 212)
ED 14/05 Proposed Auditing Standard: Consideration of Laws and Regulations in an Audit of a Financial Report (Re-issuance of AUS 218)
ED 15/05 Proposed Auditing Standard: Planning an Audit of a Financial Report (Re-issuance of AUS 302)
ED 16/05 Proposed Auditing Standard: Audit Considerations Relating to Entities Using Service Organisations (Re-issuance of AUS 404)
ED 17/05 Proposed Auditing Standard: Initial Engagements – Opening Balances (Re-issuance of AUS 510)
ED 18/05 Proposed Auditing Standard: Analytical Procedures (Re-issuance of AUS 512)
ED 19/05 Proposed Auditing Standard: Management Representations (Re-issuance of AUS 520)
ED 20/05 Proposed Auditing Standard: Auditing Fair Value Measurements and Disclosures (Re-issuance of AUS 526)
ED 21/05 Proposed Auditing Standard: Using the Work of an Expert (Re-issuance of AUS 606)
ED 22/05 Proposed Auditing Standard: Subsequent Events (Re-issuance of AUS 706)
ED 23/05 Proposed Auditing Standard: Going Concern (Re-issuance of AUS 708)

Submissions received by the AUASB (in order of receipt date) on Group 2 and Group 3 Exposure Drafts

No. Title
1. National Institute of Accountants (NIA) (Group 2 and 3 submissions)
2. The Institute of Chartered Accountants in Australia (ICAA) (Group 2 and 3 submissions)
3. Auditing Standards Response Group (Group 2 and 3 submissions)
4. CPA Australia (Group 2 submission)
5. Deloitte (Group 2 submission)
6. KPMG (Group 2 submission)
7. Australasian Council of Auditors-General (ACAG) (Group 2 submission)
8. Australasian Council of Auditors-General (ACAG) (Group 3 submission)
9. Deloitte (Group 3 submission)
10. Pitcher Partners (Group 2 submission)
11. PricewaterhouseCoopers (Group 2 & 3 submissions)
12. CPA Australia (Group 3 submission)
13. KPMG (Group 3 submission)
14. William Buck (Group 2 & 3 submissions)
15. ASIC staff (Group 2, 3, 4 and 5) - confidential submission

Group 1 Exposure Drafts, released 31 August 2005

AUASB Exposure Drafts of proposed re-issued Auditing Standards (Group 1, released 31 August 2005. Submissions closed 14 October 2005).

No. Title
  Explanatory Guide to Exposure Drafts of Proposed Auditing Standards issued by the AUASB
ED 01/05
 Proposed Auditing Standard: Understanding the Entity and its Environment and Assessing the Risks of Material Misstatements (Re-issuance of AUS 402)
ED 02/05
 Proposed Auditing Standard: The Auditor's Procedures in Response to Assessed Risks (Re-issuance of AUS 406)
ED 03/05
 Proposed Auditing Standard: Audit Evidence (Re-issuance of AUS 502)
ED 04/05
 Proposed Auditing Standard: External Confirmations (Re-issuance of AUS 504)
ED 05/05
 Proposed Auditing Standard: Existence and Valuation of Inventory (Re-issuance of AUS 506)

Submissions received by the AUASB (in order of receipt date) on Group 1 Exposure Drafts

No. Title
1. Auditing Standards Response Group
2. Ernst & Young
3. CPA Australia
4. Accounting & Finance Association of Australia and New Zealand Ltd (AFAANZ)
5. Australasian Council of Auditors-General (ACAG)
6. National Institute of Accountants (NIA)
7. Deloitte Touche Tohmatsu
8. KPMG
9. PricewaterhouseCoopers
10. ASIC staff - confidential submission
11. Institute of Chartered Accountants