Document ID: chunk:federal_register_of_legislation:F2022C01191:front:0:p2
Version: federal_register_of_legislation:F2022C01191
Segment Type: other
Provision Reference: 
Character Range: 3173–7180

DETAILS

AUTHORITY STATEMENT

CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

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

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

Introduction

Scope of this Auditing Standard.................................................1-2

The Auditor's Responsibility for the Audit Opinion....................................3

Effective Date...............................................................4

Objectives..................................................................5

Definitions.................................................................6

Requirements

Determining the Need for an Auditor's Expert........................................7

Nature, Timing and Extent of Audit Procedures.......................................8

The Competence, Capabilities and Objectivity of the Auditor's Expert.......................9

Obtaining an Understanding of the Field of Expertise of the Auditor's Expert.................10

Agreement with the Auditor's Expert..............................................11

Evaluating the Adequacy of the Auditor's Expert's Work.............................12-13

Reference to the Auditor's Expert in the Auditor's Report............................14-15

Application and Other Explanatory Material

Definition of an Auditor's Expert.............................................A1-A3

Determining the Need for an Auditor's Expert....................................A4-A9

Nature, Timing and Extent of Audit Procedures.................................A10-A13

The Competence, Capabilities and Objectivity of the Auditor's Expert.................A14-A20

Obtaining an Understanding of the Field of Expertise of the Auditor's Expert............A21-A22

Agreement with the Auditor's Expert.........................................A23-A31

Evaluating the Adequacy of the Auditor's Expert's Work..........................A32-A40

Reference to the Auditor's Expert in the Auditor's Report..........................A41-A42

Appendix 1: Considerations for Agreement between the Auditor and an Auditor's External Expert

COMPILATION DETAILS

Auditing Standard ASA 620 Using the Work of an Auditor's Expert (as Amended)

This compilation takes into account amendments made up to and including 5 November 2021 and was prepared on 31 March 2022 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 620 (October 2009) as amended by other Auditing Standards which are listed in the Table below.

Table of Standards
Standard        Date made        Operative Date
ASA 620 [A]     27 October 2009  Financial reporting periods commencing on or after 1 January 2010
ASA 2020-2 [B]  30 June 2020     Financial reporting periods ending on or after 15 July 2020
ASA 2020-1 [C]  3 March 2020     Financial reporting periods commencing on or after 15 December 2021[*]
ASA 2021-5 [D]  5 November 2021  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

    [A] Federal Register of Legislation – registration number F2009L04099, 17 November 2009

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

    [C] Federal Register of Legislation – registration number F2020L00252, 13 March 2020

    [D] Federal Register of Legislation – registration number F2021L01525, 8 November 2021

    [E] Federal Register of Legislation – registration number F2021L00403, 1 April 2021

Table of Amendments

Paragraph affected        How affected  By … [paragraph]
A18                       Amended       ASA 2020‑2 [48]
A19                       Amended       ASA 2020‑2 [49]
A4                        Amended       ASA 2020‑1 [205]
A4                        Amended       ASA 2021‑5 [31]