Document ID: chunk:federal_register_of_legislation:F2023C01123:front:0:p2
Version: federal_register_of_legislation:F2023C01123
Segment Type: other
Provision Reference: 
Character Range: 2993–5937

Paragraphs

Application......................................................Aus 0.1-Aus 0.2

Operative Date............................................................Aus 0.3

Introduction

Scope of this Auditing Standard..................................................1

Materiality in the Context of an Audit.............................................2-6

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

Objective..................................................................8

Definition..................................................................9

Requirements

Determining Materiality and Performance Materiality When Planning the Audit............10-11

Revision as the Audit Progresses..............................................12-13

Documentation..............................................................14

Application and Other Explanatory Material

Materiality and Audit Risk.....................................................A1

Materiality in the Context of an Audit.............................................A2

Determining Materiality and Performance Materiality When Planning the Audit..........A3-A13

Revision as the Audit Progresses................................................A14

COMPILATION DETAILS

Auditing Standard ASA 320 Materiality in Planning and Performing an Audit (as Amended)

This compilation takes into account amendments made up to and including 27 April 2022 and was prepared on 1 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 320 (October 2009) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard             Date made        Operative Date
ASA 320 [A]          27 October 2009  Financial reporting periods commencing on or after 1 January 2010
ASA 2011‑1 [B]       27 June 2011     Financial reporting periods commencing on or after 1 July 2011
ASA 2015‑1 [C]       1 December 2015  Financial reporting periods ending on or after 15 December 2016
ASA 2020‑1 [D]       3 March 2020     Financial reporting periods commencing on or after 15 December 2021[*]
ASA 2022-1      [E]  27 April 2022    Financial reporting periods commencing on or after 15 December 2023

Legislation History

Standard    Registration Number  Registration Date  Commencement Date

ASA 320     F2009L04080          12 November 2009   13 November 2009

ASA 2011‑1  F2011L01379          30 June 2011       1 July 2011

ASA 2015-1  F2015L02032          16 December 2015   17 December 2015

ASA 2020-1  F2020L00252          13 March 2020      14 December 2021

ASA 2022-1  F2022L00712          19 May 2022        14 December 2023

Table of Amendments
Paragraph affected                How affected  By … [paragraph]
Title Page                        Amended       ASA 2011-1 [31]