AUASB Newsletter

June 2021 Update

Content:

Highlights from the AUASB’s June meeting
Release of the new AUASB Digital Standards Portal
Request for Comments on AUASB Exposure Draft 03/21 Proposed Auditing Standard ASA 2021-2 Amendments to Australian Auditing Standard ASA 560 Subsequent Events
Request for Comments on AUASB Exposure Draft ED 02/21 Proposed Auditing Standard ASA 101 Preamble to AUASB Standards
Guidance on planning and conducting the audit for the upcoming June reporting season

Content:

Highlights from the AUASB’s April meeting
AUASB Bulletin Audit Considerations on the removal of special purpose financial statements for certain for-profit private sector entities
Newly released AUASB Bulletin on The Consideration of Cyber Security Risks in an Audit of a Financial Report
AUASB Staff Guide for Prescribing Assurance and Related Services
AUASB ED 01/21 Proposed Conforming and Consequential Amendments to the other AUASB Standards as a result of the New and Revised Quality Management Standards.
The IAASB’s Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting (EER) Assurance Engagements
The IAASB’s Public Report detailing its progress to support the public interest between July 2019 and December 2020

Content

Highlights from the AUASB’s March meeting
The AUASB’s newly released revised Quality Management Standards ASQM 1, ASQM 2 and ASA 220
Implementation support materials on ASA 540 Auditing Accounting Estimates and Related Disclosures
The AUASB’s 2nd report on Audit Quality in Australia: The Perspective of Audit Committee Chairs
The revised version of the Foreword to AUASB Pronouncements
The AUASB submission on the IAASB’s Fraud and Going Concern in an Audit of Financial Statements Discussion Paper
Details on Acting AUASB Chair Bill Edge’s admission into the Australian Accounting Hall of Fame
An international update featuring recent matters concerning the IAASB, IFIAR, IFAC and UK Government