Document ID: chunk:federal_register_of_legislation:F2025L00106:body:0:p14
Version: federal_register_of_legislation:F2025L00106
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present tense does not create or imply requirements. The present tense is used in examples and other explanatory material that relate to professional judgement and professional scepticism.

          4.                 Requirements that exist in another AUASB Standard are anchored back to the original requirement (for example, using the phrase "in accordance with") when repetition or a cross reference is considered necessary for understanding and context.

          5.                 Australian additions or modifications to an equivalent IAASB Standard are marked as Australian paragraphs or additional appendices commencing with an "Aus" prefix.

          6.                  Deletions from an equivalent IAASB Standard are clearly noted as "Deleted by the AUASB. Refer Aus …".

          7.                 The extent of differences between an AUASB Standard and its equivalent international standard are detailed in the "Conformity with International Standards" section of the standard.

The word "including", as used in AUASB Standards, means a list of items or examples is provided but the list does not purport to contain all relevant items or examples and intentionally is not exhaustive.
[1]  Or ASQC 1, as applicable.  Auditing Standard ASQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Reports and Other Financial Information, or Other Assurance or Related Services Engagements, issued in March 2021, replaces Auditing Standard ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements from 15 December 2022.
[2]  Pursuant to section 227B(1)(a) of the ASIC Act.
[3]  Pursuant to section 227B(1)(b) of the ASIC Act.
[4]  For legislative purposes, ASQM 1 and ASQM 2 Engagement Quality Reviews are included in legislation as "Auditing Standards" – see paragraph 10(d) of this Preamble.
[5]  "Australian Auditing Standards" is defined in paragraph 10(c) of this Preamble.
[6]  For legislative purposes, ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity and ASRE 2415 Review of a Financial Report: Company Limited by Guarantee or an Entity Reporting under the ACNC Act or Other Applicable Legislation or Regulation, are included in legislation as "Auditing Standards" – see paragraph 10(d) of this Preamble.
[7]  The term "assurance practitioner" is defined in paragraph 10(a) of this Preamble.
[8]  Firm means a sole practitioner, partnership, corporation or other entity of assurance practitioners, or public sector equivalent. The definition of "firm" in relevant ethical requirements may differ from the definition set out in this Auditing Standard.
[9]  Related services engagements include engagements to perform agreed-upon procedures.  The term 'assurance practitioner' is referred to in ASRS 4400 Agreed-Upon Procedures Engagements as 'practitioner'.
[10]  For legislative purposes, ASQM 1 and ASQM 2 are included in legislation as "Auditing Standards".
[11]  See ASA 200 Overall Objectives of the Independent Auditor