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.

Members of the Institute 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.

The Institute’s reporting and assurance team monitors developments in auditing standards here and overseas and provides regular updates for our members in ANTCharter and Institute news.

From this page you can access material which will:

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  • AUASB withdraws superseded pronouncements

    The AUASB has withdrawn the following superseded pronouncements which have now been transferred to the archive

    Published on 28 February 2014

  • Water accounting assurance standard issued

    A new assurance standard providing guidance for practitioners conducting assurance engagements on general purpose water accounting reports has been released jointly by the AUASB and the WASB.

    Published on 28 February 2014

  • AUASB release revised GS 002

    Revised guidance to assist superannuation fund auditors has been released by the AUASB.

    Published on 31 January 2014

  • IFAC guide on review engagements

    A new Guide to Review Engagements has been released by the International Federation of Accountants (IFAC) to assist the growing number of professional accountants conducting these types of engagements

    Published on 13 December 2013

  • IAASB revises assurance engagements framework

    The IAASB have released revisions the International Standard on Assurance Engagements ISAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information.

    Published on 13 December 2013

  • AUASB releases compiled standards

    The AUASB has released onto its website the compiled text of the thirteen auditing standards that were affected by the recent release of Amending ASA 2013-2.

    Published on 6 December 2013

  • Responses to IAASB's Auditor reporting proposals

    The IAASB has published the 112 comment letters it has received so far on its ED Reporting on Auditing Financial Statements: Proposed New and Revised International Standards on Auditing.

    Published on 29 November 2013

  • AUASB revises internal audit standard

    Revisions to ASA 610 Using the Work of Internal Auditors have been released by the AUASB along with an accompanying amending standard ASA 2013-2 Amendments to Australian Auditing Standards

    Published on 18 November 2013