Document ID: chunk:federal_register_of_legislation:F2025L00107:front:0:p14
Version: federal_register_of_legislation:F2025L00107
Segment Type: other
Provision Reference: 
Character Range: 43691–47646

A29.1)'.

      Aus 18.3 The definition of 'Relevant ethical requirements' is 'Principles of professional ethics and ethical requirements that are applicable to practitioners when undertaking assurance engagements on sustainability information. Relevant ethical requirements comprise the Code related to sustainability assurance engagements, together with applicable legislative or other requirements that are more restrictive, or professional requirements or requirements in law or regulation that an appropriate authority has determined to be at least as demanding as the provisions of the Code, including the relevant requirements in Chapter 2M of the Corporations Act 2001 in the case of an engagement for assurance over information in a sustainability report under that Act. (Ref: Para. A62–A63)'

      Aus 18.4 For the avoidance of doubt, the following terms used in this standard are to be read as having the same meaning as the terms used in the Act shown in the table below when conducting an audit or review of information in a sustainability report under Chapter 2M of the Act:

Term(s) in the Act                                                                                                                                             Term in AUASB Standards
Lead auditor (for the sustainability report)                                                                                                                   Engagement leader
Auditor                                                                                                                                                        Firm
Review (noun)                                                                                                                                                  Limited assurance engagement
Lead auditor (for the sustainability report) or other professional members of the audit team conducting the audit or review, or, as applicable, the auditor.   Practitioner
Audit (noun)                                                                                                                                                   Reasonable assurance engagement
Audit (noun) or review (noun), as applicable).                                                                                                                 Sustainability assurance engagement

Requirements

Conduct of an Assurance Engagement in Accordance with the ASSAs

Complying with Standards that Are Relevant to the Engagement

 1.                The practitioner shall comply with this ASSA and any other ASSAs relevant to the engagement. (Ref: Para. A47)

 2.                The practitioner shall not represent compliance with this or any other ASSAs unless the practitioner has complied with the requirements of this ASSA and any other ASSAs relevant to the engagement. (Ref: Para. A47–A48)

Text of an ASSA

 1.                The practitioner shall have an understanding of the entire text of an ASSA, including its application and other explanatory material, to understand its objectives and to apply its requirements properly. (Ref: Para. A49–A54)

Complying with Relevant Requirements

 1.                The practitioner shall comply with each requirement of this ASSA and any other relevant ASSAs unless, in the circumstances of the assurance engagement, the requirement is not relevant because it is conditional and the condition does not exist. Requirements that apply to only limited assurance or reasonable assurance engagements have the letter "L" (limited assurance) or "R" (reasonable assurance), respectively, after the paragraph number. When a requirement applies to both limited and reasonable engagements, but in a differential manner, such requirements have been presented in a columnar format with the "L" (limited assurance) and "R" (reasonable assurance) designations. (Ref: Para. A55)

 2.                In exceptional circumstances, the practitioner