Document ID: chunk:federal_register_of_legislation:F2023C01138:reg:4:p1
Version: federal_register_of_legislation:F2023C01138
Segment Type: reg
Provision Reference: reg 4 (pt 1/43)
Character Range: 7392–10593

4                         Amended       ASA 2020-2 [73]
A38                       Amended       ASA 2020-2 [74]
[Aus] Appendix 3          Amended       ASA 2020-2 [75] to [82]
A31 and Footnote 11       Amended       ASA 2020-1 [210]
A51 and Footnote 13       Amended       ASA 2020-1 [211]
A24                       Amended       ASA 2021-1 [114]
Renumbering of footnotes  Amended       ASA 2021-1 [115]
[Aus] Appendix 3          Amended       ASA 2023-1 [44] to [50]
A35                       Amended       ASA 2022-1 [43]
A36                       Amended       ASA 2022-1 [44]

AUTHORITY STATEMENT

 Auditing Standard ASA 720 The Auditor's Responsibilities Relating to Other Information (as amended to 15 March 2023) is set out in paragraphs Aus 0.1 to A59 and Appendices 1 to 3.

 This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied.  This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.

Conformity with International Standards on Auditing

This Auditing Standard conforms with International Standard on Auditing ISA 720 The Auditor's Responsibilities Relating to Other Information issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).

Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix "Aus".

The following application and other explanatory material is additional to ISA 720:

      * Paragraph Aus 50.1 refer to requirements under the Corporations Act 2001.

      * [Aus] Appendix 2 includes a decision tree diagram for other information reporting.

      * [Aus] Appendix 3 includes [Aus] Illustrations 1A, 2A and 4A-7A (inclusive) example auditor's reports (in respect of a single company and a group) that conform with the requirements of the Corporations Act 2001.

This Auditing Standard incorporates terminology and definitions used in Australia.

Compliance with this Auditing Standard enables compliance with ISA 720.

Auditing Standard ASA 720

The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 720 The Auditor's Responsibilities Relating to Other Information pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 1 December 2015.

This compiled version of ASA 720 incorporates subsequent amendments contained in other Auditing Standards made by the AUASB up to and including 15 March 2023 (see Compilation Details).

Auditing Standard ASA 720

The Auditor's Responsibilities Relating to Other Information

Application

         Aus 0.1 This Auditing Standard applies to:

             (a) an audit of a financial report for a financial year, or an audit of a financial report for a half‑year, in accordance with the Corporations Act 2001; and

             (b) an audit of a