Guidance Statements

Guidance Statements provide guidance to assist the auditor to fulfil the objectives of an audit or assurance engagement. They include explanatory details and suggested procedures on specific matters for the purposes of understanding and complying with AUASB standards. 

Should you require access to a document listed in the Archive that no longer includes a “live” link, please contact the AUASB on email: [email protected] or telephone: (03) 8080 7400.

AUASB Guidance Statements 

AUASB Guidance Statements provide guidance to assist the auditor to fulfil the objectives of an audit or assurance engagement. They include explanatory details and suggested procedures on specific matters for the purposes of understanding and complying with AUASB standards.

AUASB Guidance Statements do not prescribe or create requirements, establish new principles or amend existing AUASB standards.

The AUASB Guidance Statements listed here have been superseded. All current AUASB Guidance Statements can be found in the Standards and Guidance section of this website

No. Title Issue Date
GS 001 Concise Finance Reports
(replaced by GS 001 - May 2017)
Mar 2010
GS 001 Concise Financial Reports
(replaced by GS 001 - Mar 2010)
Dec 2008
GS 002 Special Considerations in the Audit of Risk Management Requirements for Registrable Superannuation Entities and Licensees
(replaced by GS 002 - Jan 2014)
Sep 2010
GS 003 Audit and Review Requirements for Australian Financial Services Licensees under the Corporations Act 2001
(replaced by GS 003 - Sep 2015) 
Oct 2007
GS 004 Audit Implications of Prudential Reporting Requirements for General Insurers
(replaced by GS 004 - May 2013) 
Oct 2007
GS 005 Using the Work of an Actuary
(replaced by GS 005 - Mar 2015)
Oct 2007
GS 006 Electronic Publication of the Auditor's Report
(replaced by GS 006 - Mar 2010) 
Dec 2007
GS 007 Audit Implications of the Use of Service Organisations for Investment Management Services
(replaced by GS 007 - Oct 2011) 
Mar 2008
GS 008 The Auditor's Report on a Remuneration Report Pursuant to Section 300A of the Corporations Act 2001
(replaced by GS 008 - Mar 2010) 
Jun 2008
GS 009 Auditing Self-Managed Superannuation Funds
(replaced by GS 009 - Jun 2020)
Sep 2015
GS 009 Auditing Self Managed Superannuation Funds
(replaced by GS 009 - Sep 2015)
Sep 2013
GS 009 Auditing Self Managed Superannuation Funds
(replaced by GS 009 - Sep 2013)
Aug 2011
GS 009 Auditing Self Managed Superannuation Funds
(replaced by GS 009 - Aug 2011)
Oct 2008
GS 012 Prudential Reporting Requirements for Auditors of Authorised Deposit-taking Institutions
(replaced by GS 012 - Sep 2020)
June 2009
GS 017

Prudential Reporting Requirements for Auditors of a Life Company
(replaced by GS 017 - Dec 2014)

Jun 2010
GS 018 Franchising Code of Conduct – Auditor's Reports
(replaced by GS 018 - Jun 2015)
Oct 2010

Auditing and Assurance Guidance Statements (issued prior to 1 July 2004)

Auditing and Assurance Guidance Statements (AGS) were issued prior to 1 July 2004 by the former Auditing and Assurance Standards Board (AuASB) of the Australian Accounting Research Foundation. They include explanatory details and suggested procedures on specific matters for the purposes of understanding and complying with AUASB standards.

AGSs do not prescribe or create requirements, establish new principles or amend existing AUASB standards. The AGSs are being reviewed and will be either re-issued or withdrawn.

All current Auditing and Assurance Guidance Statements can be found in the Standards and Guidance section of this website.

No. Title Issue Date
AGS 1002 Bank Confirmation Requests Oct 1995
AGS 1004 Transitional Arrangements on Changes in Audit Appointments under the Corporations Act 2001 Jul 2002
AGS 1006 Expression of an Opinion on Internal Control
(withdrawn 2 Jun 2009)
Oct 1995
AGS 1008 Audit Implications of Prudential Reporting Requirements for Authorised Deposit-taking Institutions (ADIs)
(replaced by GS 012 - Jun 2009)
Jul 2002
AGS 1014 Privity Letter Requests
(withdrawn 19 Feb 2014) 
Jul 2002
AGS 1016 Audit and Review Reports on Half-Year Financial Reports of Disclosing Entities Under the Corporations Act 2001 Oct 2003
AGS 1024 Life Insurance Act 1995 - Audit Obligations
(superseded by GS 017 in Jun 2010)
Dec 2002
AGS 1026 Superannuation Funds - Auditor Reports on Externally Managed Assets 
(replaced by GS 007 in Mar 2008)
Feb 1999
AGS 1028 Uncertainty (withdrawn 30 Jun 2007) Jul 1997

AGS 1030

Auditing Derivative Financial Instruments

Jul 2002
AGS 1032 The Audit Implications of Accounting for Investments in Associates
(replaced by GS 015 in Nov 2009)
Jul 2002
AGS 1036 The Consideration of Environmental Matters in the Audit of a Financial Report
(withdrawn 9 Mar 2011)
Jul 2002
AGS 1038 Access to Audit Working Papers
(replaced by GS 011 - Apr 2009)
Feb 2006
AGS 1040 Franchising Code of Conduct
(replaced by GS 018 - Oct 2010)
Nov 2002
AGS 1042 Reporting on Control Procedures at Outsourcing Entities (notation added by the AUASB 14 April 2008)
(replaced by ASAE 3402 for service auditors for periods commencing 1 Jul 2010 and ASA 402 for user auditors for periods commencing 1 Jan 2010)
Jul 2002
AGS 1044 Audit Reports on Information Provided Other than in a Financial Report
(withdrawn 30 Jun 2007)
May 1999
AGS 1046 Responding to Questions at an Annual General Meeting
(replaced by GS 010 - Mar 2009)
Oct 2005
AGS 1048

The Special Considerations in the Audit of Small Entities(withdrawn 14 Apr 2008) 

Mar 2004
AGS 1050 Audit Issues Relating to the Electronic Presentation of Financial Reports
(replaced by GS 006 Dec 2007) 
Jul 2002 
AGS 1052 Special Considerations in the Audit of Compliance Plans of Managed Investment Schemes
(replaced by GS 013 - Aug 2009)
Jul 2002 
AGS 1054 Auditing Revenue of Charitable Entities
(replaced by GS 019 - Apr 2011)
Jul 2002 
AGS 1056 Electronic Commerce - Effect on the Audit of a Financial Report
(withdrawn 14 Apr 2008) 
May 2002
AGS 1058 Auditing Mortgage Investment Schemes
(replaced by GS 014 - Aug 2009)
Jul 2002 
AGS 1062 Reporting in Connection with Proposed Fundraisings
(withdrawn 19 Feb 2014) 
Aug 2002
AGS 1064 Addendum to AGS 1064 Audit Implications of Prudential Reporting Requirements for General Insurers
(replaced by GS 004 - Oct 2007)
Oct 2006
AGS 1064 Audit Implications of Prudential Reporting Requirements for General Insurers
(re-issued as GS 004 in Oct 2007) 
Mar 2003 
AGS 1066

Reporting by Auditors on Compliance with International Financial Reporting Standards
(withdrawn Apr 2006) 

Jul 2003 
AGS 1068 Audit Requirements for Australian Financial Services Licensees under the Corporations Act 2001 
(replaced by GS 003 - Oct 2007) 
Oct 2004 
AGS 1070 Special Considerations in the Audit of Risk Management Requirements for Registrable Superannuation Entities and Licensees 
(replaced by GS 002 - Jul 2007)
Jul 2006
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