Document ID: chunk:federal_register_of_legislation:F2024L00057:body:0:p2
Version: federal_register_of_legislation:F2024L00057
Segment Type: other
Provision Reference: 
Character Range: 3052–6631

and Specific Elements, Accounts or Items of a Financial Statement  May 2017
ASRE 2400        Review of a Financial Report Performed by an Assurance Practitioner Who is Not the Auditor of the Entity                          September 2022
ASRE 2405        Review of Historical Financial Information Other than a Financial Report                                                          September 2022
ASAE 3000        Assurance Engagements Other than Audits or Reviews of Historical Financial Information                                            September 2022
ASAE 3100        Compliance Engagements                                                                                                            September 2022
ASAE 3150        Assurance Engagements on Controls                                                                                                 September 2022
ASRS 4400        Agreed-Upon Procedures Engagements                                                                                                September 2022

  6.       In respect of a performance audit under Division 2 of Part 4 of the Act or a performance audit of the Australian National Audit Office under Division 2 of Part 7 of the Act the ANAO Auditing Standards comprise the standards referred to below, to the extent that they are not inconsistent with requirements of the Act or other relevant legislation, and to the extent that they apply to the relevant audit or review activity:

       (a)                Standard on Assurance Engagements ASAE 3500 Performance Engagements issued on 6 September 2022 by the AUASB pursuant to paragraph 227B(1)(b) of the ASIC Act, except that 'economy, efficiency, effectiveness and/or ethics' is substituted for all instances of 'economy, efficiency and/or effectiveness', and except for the following requirements paragraphs:

            1. Paragraph 33 relating to obtaining an understanding of internal controls relevant to the evaluation of the activity's performance against the identified criteria;

           ii.                   Paragraph 34 relating to procedures relating to non-compliance with laws and regulations; and

           iii.                 Paragraph 45 relating to the assurance report content.

       (b)                The reporting requirements of the International Standard of Supreme Audit Institutions ISSAI 3000 Performance Audit Standard, endorsed 2019, by the International Organisation of Supreme Audit Institutions (INTOSAI) contained in paragraphs 116, 122, 124 and 126.

  7.       Notwithstanding clause 6 of this instrument, in respect of a performance audit under Division 2 of Part 4 of the Act which the Auditor-General elects to wholly or in part conduct as a compliance engagement and a performance audit of the Australian National Audit Office under Division 2 of Part 7 of the Act which the Independent Auditor elects to wholly or in part conduct as a compliance engagement, the ANAO Auditing Standards also comprise the standards referred to below, to the extent that they are not inconsistent with requirements of the Act or other relevant legislation, and to the extent that they apply to the relevant audit or review activity:

       (a)                Standard on Assurance Engagements ASAE 3100 Compliance Engagements issued on 6 September 2022 by the AUASB pursuant to paragraph 227B(1)(b) of the ASIC Act, except for the requirements in paragraph 56 relating to the assurance report content.

       (b)                The reporting requirements of the International Standard of