AUASB Newsletter

Content:

Highlights from the AUASB’s March meeting
ESG / Sustainability Reporting and Assurance developments
Post Implementation Review – ASAE 3100 Compliance Engagements
Webinar on the reissue of APES 320 as a quality management standard specific to non-assurance services provided by Firms
Modernising GS 016 Bank Confirmation Requests
Audit considerations on the removal of special purpose financial statements; and
Proposed IAASB Standard for Less Complex Audits not supported by AUASB in its current form

Content:

Highlights from the AUASB’s November/December meeting
Release of the AASB and AUASB Joint Staff Article Globally consistent reporting for sustainability-related information: Australian perspectives
Release of New Guidance targeting Public Sector Audit and Assurance Engagements
ASIC’s Audit inspection report and AUASB Bulletin on Supporting Auditors in Enhancing Audit Quality
Release of Implementation support materials for ASA 315 Identifying and Assessing the Risks of Material Misstatement
AUASB Quality Management Awareness Guides
Appointment of AUASB Chair to the International Auditing and Assurance Standards Board
AUASB Board Member Changes

September 2021 Update

Content:

Highlights from the AUASB’s September meeting
Release of the AUASB Consultation Paper for Audits of Less Complex Entities
The introductory video to the new and revised AUASB Quality Management Standards
The AUASB bulletin on the integrity of data obtained for the purpose of an audit of a financial report
The AUASB bulletin on Extended External Reporting (EER) Assurance Guidance in Australia
The newly updated and reissued GS 010 Responding to Questions at an Annual General Meeting
The newly issued revised AUASB standards and pronouncements following the September meeting
Information on how to provide feedback on the AUASB’s digital standards portal

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