Document ID: chunk:federal_register_of_legislation:F2023C00341:front:0:p2
Version: federal_register_of_legislation:F2023C00341
Segment Type: other
Provision Reference: 
Character Range: 3172–8002

ISSN 1833‑4393

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.................................................1-6

Effective Date...............................................................7

Objectives..................................................................8

Definitions...............................................................9-10

Requirements

Responsibility..............................................................11

Acceptance and Continuance.................................................12-14

Overall Audit Strategy and Audit Plan..........................................15-16

Understanding the Group, Its Components and Their Environments.....................17-18

Understanding the Component Auditors.........................................19-20

Materiality..............................................................21-23

Responding to Assessed Risks................................................24-31

Consolidation Process......................................................32-37

Subsequent Events.........................................................38-39

Communication with the Component Auditor.....................................40-41

Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained...............42-45

Communication with Group Management and Those Charged with Governance of the Group...46-49

Documentation..............................................................50

Application and Other Explanatory Material

Components Subject to Audit by Statute, Regulation or Other Reason......................A1

Definitions.............................................................A2-A7

Responsibility...........................................................A8-A9

Acceptance and Continuance...............................................A10-A21

Overall Audit Strategy and Audit Plan............................................A22

Understanding the Group, Its Components and Their Environments...................A23-A31

Understanding the Component Auditors.......................................A32-A41

Materiality............................................................A42-A46

Responding to Assessed Risks..............................................A47-A55

Consolidation Process.......................................................A56

Communication with the Component Auditor...................................A57-A60

Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained............A61-A63

Communication with Group Management and Those Charged with Governance of the Group A64-A66

Appendix 1: Illustrations of Auditors' Reports with Modifications to the Opinion‑General Purpose Financial Reports

Appendix 2: Examples of Matters about Which the Group Engagement Team Obtains an Understanding

Appendix 3: Examples of Conditions or Events that May Indicate Risks of Material Misstatement of the Group Financial Report

Appendix 4: Examples of a Component Auditor's Confirmations

Appendix 5: Required and Additional Matters Included in the Group Engagement Team's Letter of Instruction

COMPILATION DETAILS

Auditing Standard ASA 600 Special Considerations‑Audits of a Group Financial Report (Including the Work of Component Auditors (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 600 (October 2009) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard        Date made         Operative Date
ASA 600 [A]     27 October 2009   Financial reporting periods commencing on or after 1 January 2010
ASA 2013‑2 [B]  11 November 2013  Financial reporting periods commencing on or after 1 January 2014
ASA 2015‑1 [C]  1 December 2015   Financial reporting periods ending on or after 15 December 2016
ASA 2020-2 [D]  30 June 2020      Financial reporting periods ending on or after 15 July 2020
ASA 2020-1 [E]  3 March 2020      Financial reporting periods commencing on or after 15 December 2021[*]
ASA 2021-1 [F]  10 March 2021     Financial reporting periods commencing on or after 15 December 2022
ASA 2023-1 [G]  15 March 2023     Financial reporting periods commencing on or after 1 January 2023

    [A] Federal Register of Legislation – registration number F2009L04097, 18 November 2009

    [B] Federal