Document ID: chunk:federal_register_of_legislation:F2024L01719:body:0:p5
Version: federal_register_of_legislation:F2024L01719
Segment Type: other
Provision Reference: 
Character Range: 12566–13978

standard of behaviour expected of the auditor, assurance practitioner, engagement quality reviewer, and firm, when performing audits, reviews and other assurance engagements.

 1.              APES 110 provides a conceptual framework that establishes the approach which the auditor, assurance practitioner, engagement quality reviewer and firm are required to apply when identifying, evaluating and addressing threats to compliance with the fundamental principles.

 2.              In the case of audits, reviews and other assurance engagements, APES 110 sets out Independence Standards, established by the application of the conceptual framework to threats to independence in relation to those engagements.

 3.              APES 110 describes independence as comprising both independence of mind and independence in appearance.  Independence safeguards the ability to form an assurance conclusion without being affected by influences that might compromise that conclusion.  Independence enhances the ability to act with integrity, to be objective and to maintain an attitude of professional scepticism.

 4.              The definition of terms in APES 110 may differ from the definitions of those terms in AUASB Standards.  In complying with the requirements of this Auditing Standard, the definitions used in APES 110 apply in so far as is necessary to interpret the ethical requirements of AUASB Standards.