Australian Government
Auditing and Assurance Standards Board
The AUASB supports all activities that promote continuous improvement in audit quality, transparency and professional conduct across the auditing profession.
The AUASB’s due processes and ongoing collaboration with other regulatory, standard, and disciplinary bodies support our activities to undertake standard setting activities in the public interest. Our contributions to audit quality are evidence-based and supported by current Australian facts and relevant research wherever possible.
We look forward to making a valuable contribution to this inquiry by the Parliamentary Joint Committee.
About the Auditing and Assurance Standards Board: The Auditing and Assurance Standards Board (AUASB) is an independent, non-corporate Commonwealth entity of the Australian Government, responsible for developing, issuing and maintaining auditing and assurance standards. Sound public interest-oriented auditing and assurance standards are necessary to reinforce the credibility of the auditing and assurance processes for those who use financial and other information. The AUASB standards are legally enforceable for audits or reviews of financial
AUASB urges auditors to prepare for revised and redrafted auditing standards
Information sessions, hosted jointly by the Auditing and Assurance Standards Board (AUASB) and the three professional accounting bodies, will be held to help auditors gain awareness of the changes to the suite of revised and redrafted Australian Auditing Standards in Clarity format.... Read more
The Auditing and Assurance Standards Board (AUASB) has completely revised and reissued its guidance for auditors of Authorised Deposit-taking Institutions (ADIs) with the release today of a new Guidance Statement, GS 012 Prudential Reporting Requirements for Auditors of Authorised Deposit-taking Institutions.... Read more
The Australian Institute of Company Directors (AICD) and the Auditing and Assurance Standards Board (AUASB) have issued a publication, Going Concern issues in financial reporting: a guide for companies and directors, which explains the concept of going concern and assists company directors in performing and reporting on their going concern assessment.... Read more
To assist auditors conducting audits of financial reports in times of economic uncertainty, the Auditing and Assurance Standards Board (AUASB) today released a Bulletin, which provides an overview of the significant issues and areas auditors should consider when undertaking their work.... Read more
The Auditing and Assurance Standards Board (AUASB) today released exposure drafts of proposed standards ASQC 1 Quality Control for Firms that Perform Audits and Review of Financial Reports, Other Financial Information and Other Assurance Engagements and ASA 220 Quality Control for Audits of a Financial Report and Other Historical Financial Information for comment, as part of its project to revise and redraft the Australian Auditing Standards in Clarity format.... Read more
The Auditing and Assurance Standards Board (AUASB) today released eight exposure drafts of Australian Auditing Standards (ASAs) in Clarity format for comment by 6 April 2009.... Read more
Auditors will have greater awareness and understanding of their responsibilities when conducting audits of SMSFs, as the result of a Guidance Statement released today by the Auditing and Assurance Standards Board (AUASB).... Read more
The Auditing and Assurance Standards Board (AUASB) applauds the International Auditing and Assurance Board (IAASB) for its development of an audit practice alert Challenges in Auditing Fair Value Accounting Estimates in the Current Market Environment.... Read more
The Auditing and Assurance Standards Board (AUASB) today released a new Standard on Assurance Engagements, ASAE 3500 Performance Engagements, which will primarily be used on public sector assurance engagements where the performance of an entity’s activities is examined.... Read more
Australian auditors will need to comply with a revised set of Auditing Standards in Clarity format, which will become operative on 1 January 2010.
In line with the strategic direction provided by the Financial Reporting Council, the Auditing and Assurance Standards Board (AUASB) will redraft and issue its legally enforceable Australian Auditing Standards (ASAs). The revised ASAs will conform to the revised International Standards on Auditing (ISAs) to be issued by the International Auditing and Assurance Board (IAASB).... Read more
The Auditing and Assurance Standards Board (AUASB) today released the first four exposure drafts of Australian Auditing Standards (ASAs) in Clarity format for comment by 31 August 2008.... Read more
The Australian Accounting Standards Board (AASB) and the Auditing and Assurance Standards Board (AUASB) are launching new websites, featuring new branding, simplified navigation and an electronic solution enabling users to locate and tailor the standards relevant to their particular financial reporting period.... Read more
The AUASB today issued Guidance Statement GS 008 The Auditor’s Report on a Remuneration Report Pursuant to Section 300A of the Corporations Act 2001.
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