Document ID: chunk:federal_register_of_legislation:F2020C00630:front:0:p2
Version: federal_register_of_legislation:F2020C00630
Segment Type: other
Provision Reference: 
Character Range: 3183–7736

8007 or sent to enquiries@auasb.gov.au.  Any decision to approve a request may also require the agreement of IFAC.

ISSN 1833‑4393

CONTENTS

COMPILATION DETAILS

AUTHORITY STATEMENT

CONFORMITY WITH INTERNATIONAL STANDARDS ON QUALITY CONTROL

Paragraphs

Application...............................................................Aus 0.1

Operative Date............................................................Aus 0.2

Introduction

Scope of this Auditing Standard.................................................1-3

Authority of this Auditing Standard..............................................4-9

Effective Date..............................................................10

Objective.................................................................11

Definitions.............................................................12-Aus 12.13

Requirements

Applying, and Complying with, Relevant Requirements..............................13-15

Elements of a System of Quality Control.........................................16-17

Leadership Responsibilities for Quality within the Firm..............................18-19

Relevant Ethical Requirements................................................20-25

Acceptance and Continuance of Client Relationships and Specific Engagements............26-28

Human Resources.........................................................29-31

Engagement Performance....................................................32-47

Monitoring..............................................................48-56

Documentation of the System of Quality Control...................................57-59

Application and Other Explanatory Material

Applying, and Complying with, Relevant Requirements........................A1-Aus A1.1

Elements of a System of Quality Control........................................A2-A3

Leadership Responsibilities for Quality within the Firm.............................A4-A6

Relevant Ethical Requirements..............................................A7-A17

Acceptance and Continuance of Client Relationships and Specific Engagements.........A18-A23

Human Resources.......................................................A24-A31

Engagement Performance............................................A32-Aus A63.1

Monitoring............................................................A64-A72

Documentation of the System of Quality Control................................A73-A75

COMPILATION DETAILS

Auditing Standard ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements (as Amended)

This compilation takes into account amendments made up to and including 30 June 2020 and was prepared on 8 July 2020 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 ASQC 1 (October 2009) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard        Date made         Operative Date
ASQC 1 [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 2013‑2 [C]  11 November 2013  financial reporting periods commencing on or after 1 January 2014
ASA 2017-2 [D]  30 May 2017       financial reporting periods commencing on or after 1 January 2018
ASA 2020-2 [E]  30 June 2020      financial reporting periods ending on or after 15 July 2020

    [A] Federal Register of Legislation – registration number F2009L04063, 12 November 2009

    [B] Federal Register of Legislation – registration number F2011L01379, 30 June 2011

    [C] Federal Register of Legislation – registration number F2013L01939, 14 November 2013

    [D] Federal Register of Legislation – registration number F2017L01179, 13 September 2016

    [E] Federal Register of Legislation – registration number F2020L00885, 7 July 2020

Table of Amendments
Paragraph affected    How affected  By … [paragraph]
Aus A63.1             Amended       ASA 2011-1 [11]
Aus 12.12 Footnote *  Amended       ASA 2011-1 [12]
A53 Footnote *        Amended       ASA 2011-1 [13]
Title                 Amended       ASA 2013-2 [8]
Conformity Statement  Amended       ASA 2013-2 [9]
Aus 0.1               Amended       ASA 2013-2 [10]
Aus 1.1               Amended       ASA 2013-2 [11]
Aus 4.1               Amended