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16 May. 2019

Request for comment: ASRE 2410 Review of a Financial Report Performed by the Auditor of the Entity

The AUASB is seeking comments on Exposure Draft 01/19 ASRE 2410 Review of a Financial Report Performed by the Auditor of the Entity (ED 01/19). ED 01/19 proposes amendments to the format and content of the auditor’s review report as a result of the enhanced auditor’s report.   In July 2017 the AUASB issued a bulletin Auditor review reports – the impact of the new auditor reporting requirements to provide guidance that auditor’s review reports conducted in accordance with ASRE 2410, can use the new auditor reporting format, however are not required to do so.  Subsequent to this, to promote consistency in reporting, the AUASB have developed ED 01/19 to incorporate the changes to ASRE 2410 as a result of the enhanced auditor reporting requirements which are applicable to a review engagement. ED 01/19 also incorporates the conforming amendments relevant to a review engagement, as a result of the recent changes to ASA 250 Consideration of Laws and Regulations in the Audit of a Financial Report.

Comments are due by 9 August 2019.  In addition to issuing this exposure draft the AUASB will hold a webinar to inform stakeholders of the main proposals and to gather feedback.  Details to follow