Document ID: chunk:federal_register_of_legislation:F2022C01208:reg:14:p1
Version: federal_register_of_legislation:F2022C01208
Segment Type: reg
Provision Reference: reg 14 (pt 1/57)
Character Range: 9687–12797

14                  Amended       ASA 2022-2 [11]
A4                  Amended       ASA 2022-2 [12]
A6 and              Amended       ASA 2022-2 [13]-[14]
Footnote 6
A9                  Amended       ASA 2022-2 [15]
A10                 Amended       ASA 2022-2 [16]
A11                 Amended       ASA 2022-2 [17]
A19                 Amended       ASA 2022-2 [18]
A21                 Amended       ASA 2022-2 [19]

AUTHORITY STATEMENT

 Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity  (as amended to 13 December 2022) is set out in paragraphs Aus 0.1 to A64 and Appendices 1 to 4.

 This Auditing Standard on Review Engagements 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.

Conformity with International Standards on Review Engagements

This Auditing Standard on Review Engagements conforms with International Standard on Review Engagements ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).

In 2009 extant ASRE 2410 Review of Interim and Other Financial Reports Performed by the Independent Auditor of the Entity was reissued by the AUASB in clarity format.  The underlying standard to extant ASRE 2410 is ISRE 2410 which has not been drafted in "clarity" format by the IAASB.

Additionally in 2009, following consultation with stakeholders in Australia in accordance with normal exposure draft processes, the AUASB decided that:

      * due to the nature of reviews of other historical financial information, a separate Standard was more appropriate than ASRE 2410 being adapted by the auditor for this purpose; and

      * ASRE 2405 Review of Historical Financial Information Other than a Financial Report, developed by the AUASB, deals with reviews of other historical financial information.

At the time of issuing extant ASRE 2410 the AUASB determined that it conformed, with the exceptions listed below, to ISRE 2410 to the extent that ISRE 2410 deals with the review of financial statements by the auditor of the entity.

In 2019, following consultation with stakeholders in Australia, further amendments to ASRE 2410 were made to align the reporting requirements with the revised auditor reporting requirements contained in ASA 700 Forming an Opinion and Reporting on a Financial Report (operative for financial reporting periods ending on or after 15 December 2016).  These amendments are additional reporting requirements which are not contained in ISRE 2410.

The AUASB considers that this Auditing Standard conforms, to the extent described above, with International Standard ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity issued by the IAASB.  Generally, when the text of an International Standard is modified by the AUASB