Document ID: chunk:federal_register_of_legislation:F2025C00096:body:0:p2
Version: federal_register_of_legislation:F2025C00096
Segment Type: other
Provision Reference: 
Character Range: 3018–7746

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

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

Introduction

Scope of this Auditing Standard................................................1-11

Effective Date..............................................................12

Objectives.................................................................13

Definitions..............................................................14-15

Requirements

Leadership Responsibilities for Managing and Achieving Quality on a Group Audit............16

Acceptance and Continuance.................................................17-21

Overall Group Audit Strategy and Group Audit Plan................................22-29

Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group's System of Internal Control              30-32

Identifying and Assessing the Risks of Material Misstatement.........................33-34

Materiality..............................................................35-36

Responding to the Assessed Risks of Material Misstatement...........................37-44

Evaluating the Component Auditor's Communications and the Adequacy of Their Work......45-48

Subsequent Events.........................................................49-50

Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained...............51-52

Auditor's Report.............................................................53

Communication with Group Management and Those Charged with Governance of the Group...54-58

Documentation..............................................................59

Application and Other Explanatory Material

Scope of this ASA.......................................................A1-A18

Definitions............................................................A19-A28

Leadership Responsibilities for Managing and Achieving Quality on a Group Audit.......A29-A31

Acceptance and Continuance...............................................A32-A46

Overall Group Audit Strategy and Group Audit Plan..............................A47-A87

Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group's System of Internal Control              A88-A107

Identifying and Assessing the Risks of Material Misstatement.....................A108-A115

Materiality..........................................................A116-A123

Responding to the Assessed Risks of Material Misstatement......................A124-A143

Evaluating the Component Auditor's Communication and the Adequacy of Their Work..A144-A149

Subsequent Events.........................................................A150

Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained..........A151-A156

Auditor's Report......................................................A157-A158

Communication with Group Management and Those Charged with Governance of the GroupA159-A165

Documentation.......................................................A166-A182

Appendix 1: Illustration of Independent Auditor's Report When the Group Auditor Is Not Able to Obtain Sufficient Appropriate Audit Evidence on Which to Base the Group Audit Opinion – General Purpose Financial Report, Qualified Opinion under the Corporations Act 2001
Appendix 2: Understanding the Group's System of Internal Control
Appendix 3: Examples of Events or Conditions that May Give Rise to Risks of Material Misstatement of the Group Financial Report

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 16 December 2024 and was prepared on 31 December 2024 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 (May 2022) as amended by another Auditing Standard which is listed in the Table below.

Table of Standards
Standard    Date made           Operative Date
ASA 600     13 May 2022         Financial reporting periods commencing on or after 15 December 2023
ASA 2024-1   16 December 2024   Financial reporting periods commencing on or after 1 January 2025

Legislation History

Standard    Registration Number  Registration Date  Commencement Date
ASA 600     F2022L00709          18 May 2022        19 May 2022
ASA 2024-1  F2024L01716          20 December 2024   21 December 2024

Table of Amendments
Paragraph affected  How affected  By … [paragraph]
Appendix 1          Amended