Document ID: chunk:federal_register_of_legislation:F2011C00604:reg:3:p3
Version: federal_register_of_legislation:F2011C00604
Segment Type: reg
Provision Reference: reg 3 (pt 3/3)
Character Range: 9386–10934

Para. 10)

A1.              Included within the requirements section of a standard are references to paragraphs in the "Application and Other Explanatory Material" section of the standard.  Such references do not extend or create requirements.

Compliance with Requirements (Ref: Para. 12)

A2.              Under paragraph 12, an auditor need not document the reasons why a requirement is not relevant.  However, where in rare and exceptional circumstances, factors outside the auditor's control prevent the auditor from complying with an essential procedure contained within a relevant requirement, the auditor is required under ASA 230 or ASRE 2410[2], as applicable, to document:

         (a) the circumstances surrounding the inability to comply;

         (b) the reasons for the inability to comply; and

         (c) justification of how alternative procedures achieve the objectives of the requirement.

Conformity with International Standards on Auditing

This Auditing Standard relates to the Australian legislative environment and accordingly there is no equivalent International Standard on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard-setting board of the International Federation of Accountants (IFAC).

Compliance with this Auditing Standard enables compliance with the ISAs.
  [1]  See ASQC 1, paragraphs Aus 4.1 and Aus 12.6.
  [2]  See ASA 230 Audit Documentation and ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity.