Document ID: chunk:federal_register_of_legislation:F2020L00252:body:0:p2
Version: federal_register_of_legislation:F2020L00252
Segment Type: other
Provision Reference: 
Character Range: 4872–7849

2001, the AUASB may make Auditing Standards for the purposes of the corporations legislation.  These Auditing Standards are legislative instruments under the Legislation Act 2003.

Under the Strategic Direction given to the AUASB by the Financial Reporting Council (FRC), the AUASB is required, inter alia, to develop auditing standards that have a clear public interest focus and are of the highest quality.

Main Features

This Auditing Standard makes amendments to the requirements and/or application and other explanatory material and/or appendices of the following Auditing Standards:

ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards (Issued October 2009 and amended to December 2018)

ASA 210 Agreeing the Terms of Audit Engagements (Issued October 2009 and amended to May 2017)

ASA 230 Audit Documentation (Issued October 2009 and amended to December 2018)

ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report (Issued October 2009 and amended to December 2018)

ASA 250 Consideration of Laws and Regulations in an Audit of a Financial Report (Issued May 2017)

ASA 260 Communication With Those Charged with Governance (Issued December 2015 and amended to December 2018)

ASA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management  (Issued October 2009 and amended to November 2013)

ASA 300 Planning an Audit of a Financial Report  (Issued October 2009 and amended to December 2015)

ASA 320 Materiality in Planning and Performing an Audit (Issued October 2009 and amended to December 2015)

ASA 330 The Auditor's Responses to Assessed Risks (Issued October 2009 and amended to December 2015)

ASA 402 Auditing Considerations Relating to an Entity Using a Service Organisation (Issued October 2009 and amended to November 2013)

ASA 500 Audit Evidence (Issued October 2009 and amended to December 2018)

ASA 501 Audit Evidence—Specific Considerations for Inventory and Segment Information (Issued October 2009 and amended to July 2011)

ASA 505 External Confirmations (Issued October 2009 and amended to December 2018)

ASA 520 Analytical Procedures (Issued October 2009 and amended to December 2018)

ASA 530 Audit Sampling (Issued October 2009)

ASA 540 Auditing Accounting Estimates and Related Disclosures (Issued December 2018)

ASA 550 Related Parties (Issued October 2009 and amended to November 2013)

ASA 570 Going Concern (Issued December 2015)

ASA 600 Special Considerations-Audits of a Group Financial Report (Issued October 2009 and amended to December 2015)

ASA 610 Using the Work of Internal Auditors (Issued November 2013)

ASA 620 Using the Work of an Auditor's Expert  (Issued October 2009)

ASA 700 Forming an Opinion and Reporting on a Financial Report (Issued December 2015 and amended to December 2018)

ASA 701 Communicating Key Audit Matters in the Independent Auditor's Report