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 articles, Acuity magazine, Reporting & Assurance News and member newsletter, In the Know.
From this page you can access material which will:
A new guidance note to assist professional accountants in business prepare, review and approve management representation statements has been released by the APESB.
Published on 2 September 2016
The AUASB has released amended versions of its auditing standards impacting special purpose engagements, as part of the international auditor reporting reforms into Australia.
Published on 23 August 2016
The AUASB has published on its website the Description of the Auditor’s Responsibilities Forming Part of the Auditor’s Report that support the new ASA 700
Published on 5 August 2016
The AUASB has issued the final ED implementing the international auditor reporting reforms into Australian auditing standards.
Published on 18 July 2016
Revised formats for audit reports, including the reporting of key audit matters will become mandatory in Australia and New Zealand from 15 December 2016
Published on 10 June 2016
Audit requirements for summary financial statements have now been updated to reflect the significant international auditor reporting changes coming into force in December 2016.
Published on 1 April 2016