Document ID: chunk:federal_register_of_legislation:F2023C00337:reg:1:p1
Version: federal_register_of_legislation:F2023C00337
Segment Type: reg
Provision Reference: reg 1 (pt 1/23)
Character Range: 9575–12779

1                                                                 Amended       ASA 2021-1 [30]
Footnote 1
A1                                                                Amended       ASA 2021-1 [31]
A1                                                                Amended       ASA 2021-1 [32]
Footnote 8
Appendix 1                                                        Amended       ASA 2023-1 [17]

AUTHORITY STATEMENT

 Auditing Standard ASA 210 Agreeing the Terms of Audit Engagements (as amended to 15 March 2023) is set out in paragraphs Aus 0.1 to A39 and Appendices 1 and 2.

 This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied.  This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.

Conformity with International Standards on Auditing

This Auditing Standard conforms with International Standard on Auditing ISA 210 Agreeing the Terms of Audit Engagements issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).

Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix "Aus".

The following application and other explanatory material is additional to ASA 210:

      * Section 312 of the Corporations Act 2001 (the Act) requires an officer of the entity to allow the auditor access to the books of the entity and give any information, explanation or assistance required under section 310 of the Act.  A management‑imposed restriction of scope may breach section 312 and trigger the need for a section 311 notice to be provided by the auditor to the Australian Securities and Investments Commission (ASIC). (Ref: Para. Aus A21.1)

This Auditing Standard incorporates terminology and definitions used in Australia

The equivalent requirements and related application and other explanatory material included in ISA 210 in respect of "relevant ethical requirements", have been included in Auditing Standard, ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements. There is no international equivalent to ASA 102.

Compliance with this Auditing Standard enables compliance with ISA 210.

Auditing Standard ASA 210

The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 210 Agreeing the Terms of Audit Engagements pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 27 October 2009.

This compiled version of ASA 210 incorporates subsequent amendments contained in other Auditing Standards made by the AUASB up to and including 15 March 2023 (see Compilation Details).

Auditing Standard ASA 210

Agreeing the Terms of Audit Engagements

Application

Aus 0.1 This Auditing Standard applies to:

(a) an audit of a financial report for a financial year, or an