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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  • 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

  • AUASB revises franchising audit guidance

    The AUASB has updated its guidance for practitioners performing solvency audits for franchisors

    Published on 19 June 2015

  • Auditor reporting on other information

    Proposals to align the Australian and new international requirements for auditors reporting on information in the annual report, other than financial statements, have been released by the AUASB

    Published on 19 June 2015

  • AUASB issues internal audit bulletin

    The AUASB has released a new bulletin “Internal Audit - Impact of Direct Assistance Prohibition on Group Audits” to assist group auditors

    Published on 22 May 2015

  • Australian audit reporting EDs issued

    Australia’s plans to implement the international reforms to auditor reporting have been released for public comment by the Australian Auditing and Assurance Standards Board (AUASB) as ED 01/2015

    Published on 8 May 2015

  • 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