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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  • AUASB releases disclosure reforms ED

    Improving the auditors’ focus on disclosure in financial statements is the aim of proposed amendments to Australian auditing standards contained in AUASB ED 03/15.

    Published on 30 October 2015

  • Financial services and SMSF audit guidance revised

    The AUASB has released revised versions of its audit guidance assisting practitioners performing financial services licence and SMSF audit engagements.

    Published on 16 October 2015

  • New guidance on compilations engagements

    A new Guide to Compilation Engagements assisting member organisations and practitioners, especially smaller ones, with the implementation of ISRS 4410 (Revised) Compilation Engagements.

    Published on 9 October 2015

  • Financial services licensee audit guidance revised

    Updated guidance assisting practitioners conducting assurance engagements relating to Australian financial services licensees has now been released by the AUASB.

    Published on 6 October 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 6 October 2015

  • Dealing with multi location audit engagements

    Explanation and clarification of the responsibilities of engagement partners dealing with multi location audits has been released by the International Auditing and Assurance Standards Board (IAASB).

    Published on 11 September 2015

  • Updating summary financial information audit requirements

    Revisions to the audit requirements for reporting summary financial information, conforming them with the IAASB’s other revised auditor reporting standards, have been released.

    Published on 14 August 2015

  • IAASB finalises disclosures amendments

    Improving the auditors’ focus on disclosure in financial statements is the aim of new amendments to international auditing standards released by the IAASB.

    Published on 3 August 2015

  • Dealing with suspected regulatory non compliance

    Proposed changes to international auditing standards to assist professional accountants deal with acts or suspected acts of non-compliance with laws and regulations has been released.

    Published on 30 July 2015

  • Guidance for Grant acquittals and multi-scope engagements

    A new guidance statement to help practitioners performing grant acquittals and other multiple scope engagements has been issued by the AUASB

    Published on 9 July 2015