Document ID: chunk:federal_register_of_legislation:F2024L00057:body:0:p1
Version: federal_register_of_legislation:F2024L00057
Segment Type: other
Provision Reference: 
Character Range: 0–3337

Australian National Audit Office Auditing Standards 2024

I, Grant Hehir, Auditor-General, make the following instrument.

Dated 9 January 2024

Grant Hehir
Auditor-General

Name

    1. This instrument is the Australian National Audit Office Auditing Standards 2024.

Commencement

  2.       This instrument commences as follows:

Commencement information
Column 1                      Column 2              Column 3
Provisions                    Commencement          Date/ Details
The whole of this instrument  Date of registration

   Authority

  3.       As required by section 24 of the Auditor-General Act 1997 (the Act), I hereby set auditing standards that are to be complied with by persons performing any of the following functions:
       (a)                an audit or review referred to in Division 1 (Annual financial statement audits), Division 1A (Annual performance statement audits), Division 2 (Performance audits) or Division 2A (Assurance reviews) of Part 4 of the Act;

       (b)                an audit under Division 2 of Part 7 of the Act (Audit of the Australian National Audit Office); and

       (c)                an audit under section 49 of the Public Governance, Performance and Accountability Act 2013 (audit of the annual consolidated financial statements of the Australian Government).

   Definitions

  4.       In this instrument:
  ethics means the performance principle relating to the extent to which the proposed use of public resources is consistent with the core beliefs and values of society. Where a person behaves in an ethical manner it could be expected that a person in a similar situation would undertake a similar course of action. For the approval of proposed commitments of relevant money, an ethical use of resources involves managing conflicts of interests, and approving the commitment based on the facts without being influenced by personal bias. Ethical considerations must be balanced with whether the use will also be efficient, effective and economical.

   Auditing Standards

  5.       The Australian National Audit Office (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)                Standards made by the Australian Auditing and Assurance Standards Board (AUASB) pursuant to paragraph 227B(1)(a) of the Australian Securities and Investments Commission Act 2001 (ASIC Act) and section 336 of the Corporations Act 2001, that are current from time to time.

       (b)                The standards listed in the following table that are issued by the AUASB pursuant to paragraph 227B(1)(b) of the ASIC Act.

Standard Number  Title                                                                                                                             Issue Date
ASA 805          Special Considerations – Audits of Single Financial Statements 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