Document ID: chunk:federal_register_of_legislation:F2025L00108:body:0:p3
Version: federal_register_of_legislation:F2025L00108
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ASSA 5000 General Requirements for Sustainability Assurance Engagements (ASSA 5000), consistent with changes made to the corresponding standards issued by the International Auditing and Assurance Standards Board on the issue of International Standard on Sustainability Assurance ISSA 5000 General Requirements for Sustainability Assurance Engagements.

Definition

 1.                    For the purposes of this Standard, terms have the meanings set out in each amended standard and in the AUASB Glossary, unless otherwise stated.

Amendments to Standards

 1.                    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.

 2.                    Where this amending standard inserts or deletes a footnote, subsequent footnotes and references thereto are updated throughout the amended standard.

Amendments to ASQM 1

 1.                    Paragraph Aus 0.1 of ASQM 1 is amended as follows:

         1.                 Subparagraph (e) becomes subparagraph (g);

         2.                 Subparagraph (f) becomes subparagraph (h);

         3.                 Insert the following new subparagraphs:

(e) assurance over information in sustainability reports for the purposes of Chapter 2M of the Corporations Act 2001;

         (f) assurance over other sustainability information for other purposes;

 1.                    Paragraph Aus 4.1 of ASQM 1 is amended as follows and footnote '*' removed:

This ASQM is to be read in conjunction with relevant ethical requirements. Relevant ethical requirements are defined in paragraph Aus 16.8ASA 102.* Law, regulation or relevant ethical requirements may establish responsibilities for the firm's management of quality beyond those described in this ASQM (Ref: Para. A2).

 1.                Paragraph Aus 16.7 of ASQM 1 is amended as follows:

AUASB Standards means standards issued by the AUASB, comprising:

(a)  Australian Auditing Standards which means the suite of auditing standards issued by the AUASB, comprising:

               * Auditing Standards made under section 336 of the Corporations Act 2001;

               * ASA 805 Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement; and

               * ASA 810 Engagements to Report on Summary Financial Statements.

(b)  Australian Standards on Review Engagements;

(c)  Australian Standards on Assurance Engagements; and

(d)    Australian Standards on Sustainability Assurance; and

(de)  Australian Standards on Related Services..

 1.                Paragraph Aus 16.8 of ASQM 1 is amended as follows:

Relevant ethical requirements means:

            (i)  for sustainability assurance engagements, 'relevant ethical requirements' as defined in ASSA 5000 General Requirements for Sustainability Assurance Engagements (ASSA 5000); and

            (ii)  for engagements other than sustainability assurance engagements, 'relevant ethical requirements' as defined in ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements. (Ref: Para. A22-A24; A62)

 1.                Insert new