The Institute has lodged its joint submission with the two other professional accounting bodies to the Auditing and Assurance Standards Board (AUASB) on the following exposure drafts:

• ED 5/08 ASA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of a Financial Report
 

• ED 6/08 ASA 260 Communication with Those Charged with Governance
 

• ED 7/08 ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
, and  

• ED 8/08 ASA 330 The Auditor’s Procedures in Response to Assessed Risk