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 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

  • 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 Confirmation.com 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