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20 Dec. 2019

AUASB reissues ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements

The AUASB has reissued ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements.  The revision of ASA 102 was necessary to implement conforming amendments to International Standards to address inconsistencies with the IESBA’s revised and restructured International Code of Ethics for Professional Accountants (including International Independence Standards), and also to update references to the revised APES 110 Code of Ethics for Professional Accountants (including Independence Standards) which is effective from 1 January 2020.

The revised ASA 102 is operative for engagements with financial reporting periods ending on or after 31 December 2019, to give legal effect to the revised APES 110.  Early adoption is permitted.