Document ID: chunk:federal_register_of_legislation:F2023C01136:front:0:p2
Version: federal_register_of_legislation:F2023C01136
Segment Type: other
Provision Reference: 
Character Range: 2985–6316

INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

Application.............................................................Aus 0.1‑Aus 0.2

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

Introduction

Scope of this Auditing Standard..................................................1‑Aus 5.1

Effective Date...............................................................6

Objective..................................................................7

Definition..................................................................8

Requirements

Determining Key Audit Matters..................................................9‑10

Communicating Key Audit Matters................................................11‑16

Communication with Those Charged with Governance.................................17

Documentation..............................................................18

Application and Other Explanatory Material

Scope of this Auditing Standard..................................................A1‑A8

Determining Key Audit Matters..................................................A9‑A30

Communicating Key Audit Matters...............................................A31‑A59

Communication with Those Charged with Governance.................................A60‑A63

Documentation............................................................A64

COMPILATION DETAILS

Auditing Standard ASA 701 Communicating Key Audit Matters in the Independent Auditor's Report (as Amended)

This compilation takes into account amendments made up to and including 27 April 2022 and was prepared on 2 March 2023 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 701 (December 2015) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard             Date made        Operative Date
ASA 701 [A]          1 December 2015  Financial reporting periods ending on or after 15 December 2016.
ASA 2017‑1 [B]       30 May 2017      Financial reporting periods ending on or after 15 December 2016.
ASA 2018-1 [C]       5 December 2018  Financial reporting periods commencing on or after
                                      15 December 2019, with early adoption permitted[*].
ASA 2020-1 [D]       3 March 2020     Financial reporting periods commencing on or after 15 December 2021[#]
ASA 2021-1 [E]       10 March 2021    Financial reporting periods commencing on or after 15 December 2022

ASA 2022-1      [F]  27 April 2022    Financial reporting periods commencing on or after 15 December 2023

Legislation History

Standard    Registration Number  Registration Date  Commencement Date

ASA 701     F2015L02016          15 December 2015   16 December 2015

ASA 2017‑1  F2017L00693          19 June 2017       20 June 2017

ASA 2018-1  F2019L00016          3 January 2019     4 January 2019

ASA 2020-1  F2020L00252          13 March 2020      14 December 2021

ASA 2021-1  F2021L00403          1 April 2021       14 December 2022

ASA 2022-1  F2022L00712          19 May 2022        14 December 2023

Table of Amendments
Paragraph affected        How affected  By … [paragraph]
Aus 5.1                   Addition      ASA 2017‑1 [11]