Document ID: chunk:federal_register_of_legislation:F2025L00106:body:0:p12
Version: federal_register_of_legislation:F2025L00106
Segment Type: other
Provision Reference: 
Character Range: 34160–37716

does not exist,

    there is no requirement to document the reason(s) why the requirement is not relevant.

     1.          However, for audits or reviews conducted in accordance with the Act, where in rare and exceptional circumstances, factors outside the assurance practitioner's control prevent the practitioner from complying with an essential procedure contained within a relevant requirement, the practitioner is required:

          1.                 if possible, to perform appropriate alternative audit procedures; and

          2.                 under ASA 230[34], ASRE 2410[35] or ASSA 5000[36], as applicable, to document:

              1.                  the circumstances surrounding the inability to comply;

              2.                the reasons for the inability to comply; and

              3.              justification of how alternative procedures achieve the objectives of the requirement.[37]

     1.          In the case of a review and related services engagement, the assurance practitioner is required to apply the requirements contained only in the specified standard applicable to that engagement, in conjunction with this Preamble to AUASB Standards.  There is no requirement to apply the requirements of other AUASB Standards. However, reference to ASAs may be helpful to provide guidance.

Explanatory Material (Ref: Para. 13)

Conformity with International Standards (Ref: Para. 13(a))

     1.          The Conformity paragraphs explain the relationship of an AUASB Standard with its equivalent international standard issued by the IAASB.  An AUASB Standard conforms to the equivalent international standard when:
         1.                 the requirements of the AUASB Standard correspond with those in the equivalent international standard or the AUASB Standard contains additional requirements; and
         2.                 the explanatory material is substantially the same as the equivalent international standard or the AUASB Standard contains additional explanatory material.

     2.          The Conformity paragraphs in AUASB Standards include necessary differences from the equivalent international standard relating to terminology, referencing and Australian regulatory requirements.[38]

     3.          When an AUASB Standard and the equivalent international standard conform, the Conformity paragraphs contain a statement to this effect.

     4.          When an AUASB Standard and the equivalent international standard are not equivalent, the Conformity paragraphs detail the main differences.

     5.          The Conformity paragraphs in each AUASB Standard assist the assurance practitioner to determine to what extent (if any) compliance with AUASB Standards might enable also the engagement to be conducted in compliance with international standards. It is the responsibility of the assurance practitioner to determine which standards apply to the particular engagement and circumstances. Furthermore, where appropriate, the Conformity paragraphs contain the following sentence:
"Compliance with this Standard enables compliance with the equivalent international standard".

Introduction (Ref: Para. 13(c))

     1.          Introductory material provides context relevant to a proper understanding of an AUASB Standard.  Introductory material may include, as needed, such matters as explanation of the:

           * purpose and scope of the Standard, including how the Standard relates to other AUASB Standards;

           * subject matter of the Standard; and

           *