Australian Government
Auditing and Assurance Standards Board
Monday, December 13, 2021
The AUASB has now released the final video in the Quality Management awareness series, Your 5-minute guide to Quality Management on an audit engagement. This video takes you through the highlights of the revised ASA 220 including explaining the new definition of engagement team, how delegation on an audit engagement might work and the new overall stand-back provision.
These new and revised standards will be effective sooner than you think, the AUASB will continue to provide and work with others to provide implementation support materials.