Document ID: chunk:federal_register_of_legislation:F2017L00693:body:0:p2
Version: federal_register_of_legislation:F2017L00693
Segment Type: other
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Character Range: 3721–6831

October 2009)

ASA 700 Forming an Opinion and Reporting on a Financial Report (1 December 2015)

ASA 701 Communicating Key Audit Matters in the Independent Auditor's Report (1 December 2015)

ASA 800 Special Considerations – Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks (26 July 2016)

ASA 805 Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement (26 July 2016)

Under the Strategic Direction given to the AUASB by the Financial Reporting Council (FRC), the AUASB is required to have regard to any programme initiated by the IAASB for the revision and enhancement of the International Standards on Auditing (ISAs) and to make appropriate consequential amendments to the Australian Auditing Standards.

AUTHORITY STATEMENT

 The Auditing and Assurance Standards Board (AUASB) makes this Auditing Standard ASA 2017-1 Amendments to Australian Auditing Standards pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001.

Dated: 30 May 2017 Roger Simnett
 Chairman - AUASB

Conformity with International Standards on Auditing

This Auditing Standard has been made for Australian legislative purposes and accordingly there is no equivalent International Standard on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard setting board of the International Federation of Accountants (IFAC).  It contains miscellaneous amendments to various Australian Auditing Standards.

Auditing Standard ASA 2017-1

Amendments to Australian Auditing Standards

Application

      1. In relation to the amendments to ASAs 210, 700 and 701 this Auditing Standard applies to:

           * an audit of a financial report for a financial year, or an audit of a financial report for a half-year, in accordance with the Corporations Act 2001;

           * an audit of a financial report, or a complete set of financial statements, for any other purpose; and

           * an audit of other historical financial information as appropriate.

2.                   In relation to the amendments to ASA 800 this Auditing Standard applies to:

           * an audit of a special purpose financial report for a financial year, or an audit of a special purpose financial report for a half-year, in accordance with the Corporations Act 2001;

           * an audit of a special purpose financial report, or a complete set of financial statements, for any other purpose; and

           * an audit of other historical financial information as appropriate.

3.                   In relation to the amendments to ASA 805 this Auditing Standard applies to:

           * an audit of a single financial statement, or a specific element, account, or item of a financial statement; and

           * an audit of other historical financial information as appropriate.

Operative Date

4.                   This Auditing Standard is operative for financial reporting periods ending on