Document ID: chunk:federal_register_of_legislation:F2017L00693:body:0:p3
Version: federal_register_of_legislation:F2017L00693
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a single financial statement, or a specific element, account, or item of a financial statement; and

           * an audit of other historical financial information as appropriate.

Operative Date

4.                   This Auditing Standard is operative for financial reporting periods ending on or after 15 December 2016.

Introduction

Scope of this Auditing Standard

5.                   This Auditing Standard makes amendments to the following Auditing Standards:

(a)                ASA 210 Agreeing the Terms of Audit Engagements (27 October 2009)

(b)                ASA 700 Forming an Opinion and Reporting on a Financial (1 December 2015)

(c)                ASA 701 Communicating Key Audit Matters in the Independent Auditor's Report (1 December 2015)

(d)                ASA 800 Special Considerations – Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks (26 July 2016)

(e)                ASA 805 Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement (26 July 2016)

Objective

6.                   The objective of this Auditing Standard is to:

(a)                Make editorial amendments to the Auditing Standards and have no impact on the requirements of the amended Auditing Standards.

(b)                Clarify the scope of ASA 701 in relation to condensed interim financial reports.

Definitions

7.                   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

Amendments to ASA 210

8.                   Bullet point Aus (iv) is changed to Aus (d) in Appendix 1, and is amended to read as follows:

    Aus  (iv)(d) [Where applicable, in respect of other information:

(i)                 WeYou will inform youus of all the documents that weyou expect to issue that may comprise other information;

            If the other information has been is to be  provided prior to the auditor's report date:

[The financial report and any other information you may obtain prior to the date of your auditor's report will be consistent with one another, and the other information will not contain any material misstatements;] or

            If the other information will not be provided prior to the auditor's report date:

[With regard to any other information that you may not obtain prior to the date of the auditor's report, that we intend to prepare and issue such other information and that weyou expect to issue it by [insert date.] and we will be provided it to you by [insert date.] to enable you to complete your required procedures.]]

Amendments to ASA 700

9.                   New paragraph Aus 49.1 inserted after paragraph 49 as follows:

    The auditor's report shall be dated as of the date the auditor signs that report.

10.               A footnote is added to the "Date of the auditor's report" line in illustrations 1A, 2A,