Audit and assurance standards

Development of Auditing Standards

Australian auditing standards are set by the Australian Auditing Standards Board (AUASB). Auditing standards have the force of law for audits and reviews of Corporations Act entities under section 307A of the Corporations Act 2001 (Cth).

Our members are required by professional and ethical standard APES 210 Conformity with Auditing and Assurance Standards to comply with Auditing and Assurance Standards when they conduct auditing and assurance engagements.

This section of the website is dedicated to providing members with the resources they need to understand and apply accounting standards and keep abreast of all the changes.

Our reporting and assurance team monitors developments in auditing standards here and overseas; and provides regular updates for our members via archived Charter articlesAcuity magazine, our ANT newsletter and member newsletter, In the Know.

From this page you can access material which will:

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  • Agreed upon procedures standard under review

    Practitioners performing agreed upon procedures (AUP) engagements worldwide are being asked to provide information to the IAASB’s working group reviewing the relevant standard ISRS 4400

    Published on 24 April 2015

  • IAASB special purpose audit reports submission lodged

    The organisation has lodged its submission to the IAASB ED containing proposed revisions to its two “special considerations” auditing standards ISA 800 and ISA 805.

    Published on 22 April 2015

  • Auditors responsibility for other information

    The IAASB have released the International Standard on Auditing ISA 720 (Revised), The Auditor’s Responsibilities Relating to Other Information

    Published on 10 April 2015

  • Audit confirmation requests moving online

    Westpac and HSBC Australia have begun using the online audit confirmation service to provide customers and their auditors with an easy solution for obtaining audit confirmations

    Published on 10 April 2015

  • AUASB revises management expert guidance

    Auditors needing to use the work of management experts as audit evidence can now access the AUASB’s recently released revised Guidance Statement GS 005 Using the Work of a Managements’ Expert

    Published on 20 March 2015

  • IAASB begins quality control project

    The IAASB has launched a new survey as the first stage of a planned overhaul of its quality control requirements as they affect audit and assurance engagements.

    Published on 27 February 2015

  • Compilation reports standard revised

    A revised version of APES 315 Compilation of Financial Information has been released by the Accounting Professional and Ethics Standards Board (APESB).

    Published on 27 February 2015

  • Special purpose audit report revisions

    The IAASB has released an Exposure Draft (ED) of proposed revisions to ISA 800 and ISA 805

    Published on 9 February 2015

  • IAASB issues auditor reporting standards

    The IAASB have released its suite of new and revised Auditor Reporting standards, containing significant reforms to the layout and wording of auditor’s reports

    Published on 30 January 2015

  • AUASB new releases

    The Australian Auditing and Assurance Standards Board (AUASB) has released a revised version of GS 017 Audit Implications for Prudential Reporting Requirements of a Life Company.

    Published on 24 December 2014