Document ID: chunk:federal_register_of_legislation:F2023C01133:reg:7:p16
Version: federal_register_of_legislation:F2023C01133
Segment Type: reg
Provision Reference: reg 7 (pt 16/17)
Character Range: 48917–51795

function as a whole that the external auditor plans to use in accordance with paragraph 24.  The external auditor is more likely to focus re‑performance in those areas where more judgement was exercised by the internal audit function in planning, performing and evaluating the results of the audit procedures and in areas of higher risk of material misstatement.

Direct Assistance

A31.‑A41. [Deleted by the AUASB.  Refer Aus 1.2][25]

[*]  Early adoption, in conjunction with ASA 315 Identifying and Assessing the Risks of Material Misstatement, permitted.
[*]*  International Standard on Auditing ISA 610 Using the Work of Internal Auditors, paragraph 5 makes it clear that the requirements and application and other explanatory material in that standard relating to direct assistance do not apply in jurisdictions where direct assistance is prohibited, or restricted to some extent, by law or regulation.  ASA 610 prohibits direct assistance and, accordingly, does not include other requirements and application and other explanatory material on direct assistance, and replaces them with the words "[Deleted by the AUASB.  Refer Aus 1.2]".
[#]  See ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors) (as amended).
[1]  See ASA 315 Identifying and Assessing the Risks of Material Misstatement.
[2]  [Footnote deleted by the AUASB.  Refer Aus 1.2]
[3]  See ASA 315, paragraph A118.
[4]  See paragraphs 15–25 of this Auditing Standard.
[5]  ASA 330 The Auditor's Responses to Assessed Risks.
[6]  See ASA 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards (as amended), paragraph 14.
[7]  See ASA 260 Communication with Those Charged with Governance (as amended), paragraph 15.
[8]   See paragraph 18 of this Auditing Standard.
[9]  [Footnote deleted by the AUASB.  Refer Aus 1.2]
[10]  [Footnote deleted by the AUASB.  Refer Aus 1.2]
[11]  [Footnote deleted by the AUASB.  Refer Aus 1.2]
[12]  See paragraph 10 of this Auditing Standard.
[13]   See ASA 315, paragraph 14(a).
[14]  See paragraphs 15–25 of this Auditing Standard.
[15]  [Footnote deleted by the AUASB.  Refer Aus 1.2]
[16]  [Footnote deleted by the AUASB]
[*]  See ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (as amended).
[17]  [Footnote deleted by the AUASB]
[#]  See ASA 102 (as amended).
[18]  ASA 300 Planning an Audit of a Financial Report (as amended).
[19]  See ASA 200 (as amended), paragraph A29.
[20]  See ASA 315, paragraph 12(l).
[21]  See ASA 260 (as amended), paragraph 15.
[22]  See ASA 200 (as amended), paragraphs 15 and A18.
[23]  See ASA 315, paragraph A118.
[24]  See ASA 315, paragraph A11 in relation to ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial