Auditing Standard ASA 700 Forming an Opinion and Reporting on a Financial Report requires an auditor’s report to include a section with the heading 'Auditor’s Responsibilities for the Audit of the Financial Report'. [Ref: ASA 700, paragraph 37-40]
ASA 700 paragraph 41 requires the description of the auditor’s responsibilities required by ASA 700 paragraphs 39-40 to be included:
ASA 700 paragraph Aus A57.1 provides Application and Other Explanatory Material that when the auditor refers to a description of the auditor's responsibilities on a website, the appropriate authority is The Auditing and Assurance Standards Board website and the website address is www.auasb.gov.au/Home.aspx*.
* The auditor’s report should refer to the specific webpage that applies to the auditor’s responsibilities applicable in the context of the engagement.
As a result, when referring to the responsibilities statements the auditor needs to include the correct URL based on the type of engagement listed in the table below.
The Australian Auditing and Assurance Standards Board authorises that descriptions of the Auditor's Responsibilities can be referenced to the following examples. The auditor’s report includes a reference to the specific webpage that applies to the auditor’s responsibilities applicable in the context of the engagement.
|ASA 600 Applies^||ASA 600 does not apply|
|Fair presentation framework|
|Listed (After 1 January 2020)||Statement 1 (2020)||Statement 2 (2020)|
|Listed (Before 2020)||Statement 1||Statement 2|
|Non-listed||Statement 3||Statement 4|
|Non-listed – voluntary reporting of key audit matter(s)||Statement 5||Statement 6|
|Non-listed||Statement 7||Statement 8|
|Non-listed – voluntary reporting of key audit matter(s)||Statement 9||Statement 10|
|Fair presentation framework||URL|
|Statement 1 (2020)||https://www.auasb.gov.au/admin/file/content102/c3/ar1_2020.pdf|
|Statement 2 (2020)||https://www.auasb.gov.au/admin/file/content102/c3/ar2_2020.pdf|
|Statement 1 (Pre-2020)||https://www.auasb.gov.au/auditors_responsibilities/ar1.pdf|
|Statement 2 (Pre-2020)||https://www.auasb.gov.au/auditors_responsibilities/ar2.pdf|
^ ASA 600 applies to group audits, in particular those that involve component auditors. Refer to ASA 600 for further detail.
Note: Earlier versions of the auditor’s responsibilities statements remain valid and can be accessed via the following link.