Document ID: chunk:federal_register_of_legislation:F2023C00330:reg:10:p1
Version: federal_register_of_legislation:F2023C00330
Segment Type: reg
Provision Reference: reg 10 (pt 1/14)
Character Range: 8528–12076

10                                                                                      Amended       ASA 2015-1 [169]
Appendix 1                                                                              Amended       ASA 2015‑1 [170-171]
Appendix 2                                                                              Amended       ASA 2015‑1 [167, 172]
Appendix 1                                                                              Amended       ASA 2018-1 [54]
Appendix 2                                                                              Amended       ASA 2018-1 [55]
Appendix 1                                                                              Amended       ASA 2023-1 [24]

AUTHORITY STATEMENT

 Auditing Standard ASA 580 Written Representations (as amended to 15 March 2023) is set out in paragraphs Aus 0.1 to A27 and Appendices 1 and 2.

 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 580 Written Representations 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".

Compliance with this Auditing Standard enables compliance with ISA 580.

Auditing Standard ASA 580

The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 580 Written Representations pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 27 October 2009.

This compiled version of ASA 580 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 580

Written Representations

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 financial report, or a complete set of financial statements, for any other purpose.

Aus 0.2 This Auditing Standard also applies, as appropriate, to an audit of other historical financial information.

Operative Date

Aus 0.3 This Auditing Standard is operative for financial reporting periods commencing on or after 1 January 2010.  [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]

Introduction

Scope of this Auditing Standard

      1. This Auditing Standard deals with the auditor's responsibility to obtain written representations from management and, where appropriate, those charged with governance in an audit of a financial report.

      2. Appendix 1 lists other Australian Auditing Standards containing subject‑matter specific requirements for written representations.  The specific requirements for written representations of other Australian Auditing Standards do not limit the