Document ID: chunk:federal_register_of_legislation:F2022L00712:body:0:p4
Version: federal_register_of_legislation:F2022L00712
Segment Type: other
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Character Range: 10134–13315

Report (Issued May 2017 and amended to March 2021)

(g)                ASA 260 Communication With Those Charged With Governance (Issued December 2015 and amended to March 2021)

(h)                ASA 300 Planning an Audit of a Financial Report (Issued October 2009 and amended to March 2021)

(i)                 ASA 315 Identifying and Assessing the Risks of Material Misstatement (Issued February 2020 and amended to March 2021)

(j)                 ASA 320 Materiality in Planning and Performing an Audit (Issued October 2009 and amended to March 2020)

(k)                ASA 402 Auditing Considerations Relating to an Entity Using a Service Organisation (Issued October 2009 and amended to March 2020)

(l)                 ASA 501 Audit Evidence—Specific Considerations for Inventory and Segment Information (Issued October 2009 and amended to March 2020)

(m)             ASA 550 Related Parties (Issued October 2009 and amended to November 2021)

(n)                ASA 610 Using the Work of Internal Auditors (Issued November 2013 and amended to November 2021)

(o)                ASA 700 Forming an Opinion and Reporting on a Financial Report (Issued December 2015 and amended to September 2021)

(p)                ASA 701 Communicating Key Audit Matters in the Independent Auditor's Report (Issued December 2015 and amended to March 2021)

(q)                ASA 705 Modifications to the Opinion in the Independent Auditor's Report (Issued December 2015 and amended to June 2020)

(r)                 ASA 720 The Auditor's Responsibilities Relating to Other Information (Issued December 2015 and amended to March 2021)

Definition

6.                   For the purposes of this Auditing Standard, the meanings of terms are set out in each Auditing Standard and in the AUASB Glossary.  This Auditing Standard does not introduce new definitions.

Amendments to Auditing Standards

7.                   Where relevant, this Standard uses underlining, striking out and other typographical material to identify the amendments to a Standard, in order to make the amendments more understandable. However, the amendments made by this Standard do not include that underlining, striking out or other typographical material. Amended paragraphs are shown with deleted text struck through and new text underlined. Ellipses (…) are used to help provide the context within which amendments are made and also to indicate text that is not amended.

8.                   Where this amending standard inserts or deletes a paragraph or footnote, as a result of that insertion or deletion relevant paragraph numbers, cross-references and footnotes are updated.

Amendments to ASQM 1

9.                   Existing footnote 17 in paragraph Aus A96.1 is amended to read as follows:

See ASA 600 Special Considerations–Audits of a Group Financial Report (Including the Work of Component Auditors), paragraph 2619.

10.               Existing sixth bullet point of paragraph A112 is amended to read as follows:

The Ggroup engagement teamsauditor communicates matters to component auditors in accordance with the firm's policies or procedures, including matters related to quality management at