Document ID: chunk:federal_register_of_legislation:F2022C01152:reg:4:p62
Version: federal_register_of_legislation:F2022C01152
Segment Type: reg
Provision Reference: reg 4 (pt 62/63)
Character Range: 190854–193753

effects on the entity's financial report of material risks and exposures required to be disclosed in the financial report, including the estimation uncertainty associated with accounting estimates.

(u)                The reasonableness of disclosures about estimation uncertainty in the financial report.

(v)                Whether management's decisions relating to the recognition, measurement, presentation and disclosure of the accounting estimates and related disclosures in the financial report are in accordance with the applicable financial reporting framework.

[*]  Early adoption of this Auditing Standard is permitted prior to this date.
[#]  Early adoption, in conjunction with ASA 315 Identifying and Assessing the Risks of Material Misstatement, permitted.
[1]  See ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment.
[2]  See ASA 330 The Auditor's Responses to Assessed Risks.
[3]  See ASA 450 Evaluation of Misstatements Identified during the Audit.
[4]  See ASA 500 Audit Evidence.
[5]  See ASA 315, paragraph 31.
[6]  See ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards, paragraph A40.
[7]  See also ASA 700 Forming an Opinion and Reporting on a Financial report, paragraph 13(c).
[8]  See ASA 315, paragraphs 19–27.
[9]  See ASA 315, paragraphs 26(a)(i)–(iv).
[10]  See ASA 315, paragraph 31 and 34.
[11]  See ASA 315, paragraph 32.
[12]  See ASA 315, paragraph 26(a)(i).
[13]  See ASA 315, paragraph 26(a).
[14]  See ASA 330, paragraphs 6–15 and 18.
[15]  See ASA 330, paragraphs 6–7 and 21.
[16]  See ASA 330, paragraph 7(b).
[17]  See ASA 330, paragraph 8.
[18]  See ASA 330, paragraph 9.
[19]  See ASA 330, paragraphs 15 and 21.
[20]  See ASA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management.
[21]  See ASA 330, paragraphs 25–26.
[22]  See ASA 500, paragraph 11.
[23]  See ASA 705 Modifications to the Opinion in the Independent Auditor's Report.
[24]  See ASA 450, paragraph A6.
[25]  See also ASA 700, paragraph 14.
[26]  See also ASA 700, paragraph 19.
[27]  See ASA 580 Written Representations.
[28]  See ASA 260 Communication with Those Charged with Governance, paragraph 16(a).
[29]  See ASA 265, paragraph 9.
[30]  See ASA 230 Audit Documentation, paragraphs 8–11, A6, A7 and A10.
[31]  See ASA 330, paragraph 28(b).
[32]  See ASA 315, paragraph 12(f).
[33]  See ASA 315, paragraph 31.
[34]  See ASA 260, paragraph 16(a).
[35]  See ASA 315, paragraph 21(a).
[36]  See ASA 500, paragraph 8.
[37]  See, for example, Accounting Standard AASB 13 Fair Value Measurement.
38 See ASA 315, paragraph 22(b).
[39]  See Accounting Standard AASB 13, paragraph 63.
[40]  See ASA 315, Appendix 3.
[41]  See ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit