Document ID: chunk:federal_register_of_legislation:F2023C00335:body:0:p2
Version: federal_register_of_legislation:F2023C00335
Segment Type: other
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Character Range: 3176–6966

CONTENTS

COMPILATION DETAILS

AUTHORITY STATEMENT

CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

Application...............................................................Aus 0.1‑Aus 0.2
Operative Date............................................................Aus 0.3
Introduction

Scope of this Auditing Standard.................................................1-4

Effective Date...............................................................5

Objective..................................................................6

Definitions.................................................................7

Requirements

Emphasis of Matter Paragraphs in the Auditor's Report................................8-9

Other Matter Paragraphs in the Auditor's Report...................................10-11

Communication with Those Charged with Governance.................................12

Application and Other Explanatory Material

The Relationship between Emphasis of Matter Paragraphs and Key Audit Matters in the Auditor's Report              A1-A3

Circumstances in Which an Emphasis of Matter Paragraph May Be Necessary.............A4-A6

Including an Emphasis of Matter Paragraph in the Auditor's Report.......................A7-Aus A8.1

Other Matter Paragraphs in the Auditor's Report.................................A9-A15

Placement of Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Auditor's ReportA16-A17

Communication with Those Charged with Governance................................A18

Appendix 1: List of Australian Auditing Standards Containing Requirements for Emphasis of Matter Paragraphs
Appendix 2: List of Australian Auditing Standards Containing Requirements for Other Matter Paragraphs
Appendix 3: Illustration of an Auditor's Report that Includes a Key Audit Matters Section, an Emphasis of Matter Paragraph, and an Other Matter Paragraph

 Appendix 4: Illustration of an Auditor's Report Containing a Qualified Opinion Due to a Departure from the Applicable Financial Reporting Framework and that Includes an Emphasis of Matter Paragraph

COMPILATION DETAILS

Auditing Standard ASA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report (as Amended)

This compilation takes into account amendments made up to and including 15 March 2023 and was prepared on 22 March 2023 by the Auditing and Assurance Standards Board (AUASB).

This compilation is not a separate Auditing Standard made by the AUASB.  Instead, it is a representation of ASA 706 (December 2015) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard        Date made        Operative Date
ASA 706 [A]     1 December 2015  Financial reporting periods ending on or after 15 December 2016
ASA 2020-2 [B]  30 June 2020     Financial reporting periods ending on or after 15 July 2020
ASA 2023-1 [C]  15 March 2023    Financial reporting periods commencing on or after 1 January 2023

    [A] Federal Register of Legislation – registration number F2015L02037, 16 December 2015

    [B] Federal Register of Legislation – registration number F2020L00885, 7 July 2020

    [C] Federal Register of Legislation – registration number F2023L00295, 21 March 2023

Table of Amendments

Paragraph affected  How affected  By … [paragraph]
Appendix 3          Amended       ASA 2020‑2 [62] and [63]
Appendix 4          Amended       ASA 2020-2 [64] and [65]
Appendix 3          Amended       ASA 2023-1 [36]
Appendix 4          Amended       ASA 2023-1 [37]

AUTHORITY STATEMENT

 Auditing Standard ASA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report (as amended to 15 March 2023) is set out in paragraphs Aus 0.1 to A18 and