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This section contains the latest news from the AUASB, media releases, media contact details and information about upcoming events. You can also register here to receive free email update alerts from the AUASB.

25 Jun. 2014

AUASB issues an Exposure Draft on Controls Assurance

The AUASB has issued an Exposure Draft ED 01/14 of Proposed Standard on Assurance Engagements ASAE 34XX Assurance Engagements on Controls, with comments invited by 25 August 2014.  The proposed standard will replace the existing standard, AUS 810 Special Purpose Reports on the Effectiveness of Control Procedures, issued by the former AuASB, and is proposed to be operative for assurance engagements commencing 1 July 2015, with early adoption permitted.... Read more

24 Jun. 2014

The AUASB has issued the final revised ASAE 3000, Framework and Conforming Amendments

The AUASB has issued the final revised Framework for Assurance Engagements, ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information and the Conforming Amendments to ASAE 3402, ASAE 3410 and ASAE 3420 as a result of revisions to ASAE 3000.  These pronouncements will be operative from 1 January 2015, with early adoption permitted.... Read more

13 Jun. 2014

Highlights of AUASB Meeting 10 June 2014

The AUASB has released the Highlights from its 10 June 2014 meeting.

12 Jun. 2014

June 2014 Edition

The June 2014 edition of AUASB International Update has been published.... Read more

1 May. 2014

AUASB invites comments on IAASB Exposure Draft Addressing Information in Annual Reports

The AUASB invites comments on the re-exposed IAASB Exposure DraftThe Auditor’s Responsibilities Relating to Other Information. The proposed standard clarifies and strengthens the auditor’s scope and focus of auditor efforts on information included in entities’ annual reports. The AUASB requests all comments by 1 July 2014... Read more

29 Apr. 2014

April 2014 Edition

The April 2014 edition of AUASB International Update has been published.... Read more

16 Apr. 2014

AUASB office closure for Public Holidays

The Office of the AUASB will be closed during the following forthcoming public holidays:

Good Friday         Friday 18 April
Easter Monday    Monday 21 April
Anzac Day            Friday 25 April

Please note also due to testing of the IT System by service providers, access to email will be unavailable during the period 22-24 April.

11 Apr. 2014

Highlights of AUASB Meeting 7 April 2014

The AUASB has released the Highlights from its 7 April 2014 meeting.

10 Apr. 2014

Materiality and Disclosures

The AUASB would like to alert auditors to a staff paper published by the Australian Accounting Standards Board (AASB), titled “To Disclose or Not to Disclose: Materiality is the Question”.   Auditors may find the paper of interest and useful when conducting audits of financial reports:

http://www.aasb.gov.au/News/The-AASB-has-published-a-staff-paper-on-disclosures-and-materiality

31 Mar. 2014

Independence e-Newsletter issued for March 2014

The March 2014 edition of Independence, the AUASB’s e-Newsletter has been published.... Read more

28 Mar. 2014

March 2014 Edition

The March 2014 edition of AUASB International Update has been published.... Read more

26 Mar. 2014

FRC Chairman gives speeches relevant to auditing and assurance

The Financial Reporting Council (FRC) Chairman, Lynn Wood, made speeches relevant to the AUASB's work on auditing and assurance at the ASIC Forum and the CFO Summit in March.  Both speeches are available on the FRC website.... Read more

27 Feb. 2014

February 2014 Edition

The February 2014 edition of AUASB International Update has been published.... Read more

26 Feb. 2014

AUASB and the Bureau of Meteorology jointly issue a new water Assurance Standard

The AUASB and the Bureau of Meteorology have jointly issued Standard for Assurance Engagements ASAE 3610/Australian Water Accounting Standard AWAS 2 Assurance Engagements on General Purpose Water Accounting Reports.... Read more

26 Feb. 2014

Highlights of AUASB Meeting 24 February 2014

The AUASB has released the Highlights from its 24 February 2014 meeting.

30 Jan. 2014

AUASB issues revised and expanded Guidance Statement GS 002 Audit Implications of Prudential Reporting Requirements for Registered Superannuation Entities

The AUASB has released a revised and expanded Guidance Statement GS 002 Audit Implications of Prudential Reporting Requirements for Registered Superannuation Entities, which provides guidance regarding the matters assurance practitioners conducting engagements under the new APRA Prudential Standard SPS 310 Audit and Related Matters (issued by APRA July 2013), need to consider in order to meet APRA audit reporting requirements.... Read more

20 Dec. 2013

December 2013 Edition

The December 2013 edition of AUASB International Update has been published.... Read more

20 Dec. 2013

Independence e-Newsletter issued for December 2013

The December 2013 edition of Independence, the AUASB’s e-Newsletter has been published.... Read more

17 Dec. 2013

AUASB New Board Appointments and Retiring Members

Lynn Wood, Chairman of the Financial Reporting Council, has announced the appointment of two new members to join the Auditing and Assurance Standards Board (AUASB).... Read more

11 Dec. 2013

AUASB issues three new Exposure Drafts in relation to ASAE 3000

The AUASB has issued three Exposure Drafts for comment by 3 February 2014.
They are ED 05/13 Proposed Standard on Assurance Engagements ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information, ED 06/13 Proposed Framework for Assurance Engagements and ED 07/13 Proposed Conforming Amendments to ASAE 3402, ASAE 3410 and ASAE 3420 as a Result of Proposed Re-issuance of ASAE 3000.... Read more

9 Dec. 2013

Highlights of AUASB Meeting 2 December 2013

The AUASB has released the Highlights from its 2 December 2013 meeting.

29 Nov. 2013

AUASB issues thirteen (13) Compiled Auditing Standards

The AUASB has issued thirteen (13) Compiled Auditing Standards incorporating the changes made in Amending Standard ASA 2013-2 Amendments to Australian Auditing Standards, which was issued by the AUASB on 11 November 2013.... Read more

11 Nov. 2013

AUASB issues two Auditing Standards

The AUASB has issued ASA 610 Using the Work of Internal Auditors, which is a substantial revision of the existing standard ASA 610 issued in October 2009; and ASA 2013-2 Amendments to Australian Auditing Standards which makes consequential amendments to Australian Auditing Standards arising from the revision of ASA 610 and a decision taken by the AUASB to incorporate related services engagements into the scope and application of Auditing Standard ASQC 1.  The standards are operative for financial reporting periods commencing on or after 1 January 2014.... Read more

31 Oct. 2013

Highlights from the 28 October 2013 Meeting

The AUASB has released the Highlights from its 28 October 2013 meeting.

4 Oct. 2013

Independence e-Newsletter issued for October 2013

The October 2013 edition of Independence, the AUASB’s e-Newsletter has been published.... Read more

30 Sep. 2013

AUASB issues revised Guidance Statement GS 009

The AUASB has released an updated Guidance Statement GS 009 Auditing Self-Managed Superannuation Funds.... Read more

20 Sep. 2013

AUASB issues new Exposure Draft

AUASB Issues ED 04/13 ASA 2013-4 Amendments to Auditing Standard ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information and Other Assurance Engagements. ... Read more

12 Sep. 2013

Highlights from the 10 September 2013 Meeting

The AUASB has released the Highlights from its 10 September 2013 meeting.

30 Aug. 2013

FRC seeks applications for membership of the AUASB in 2013-2014

The Financial Reporting Council is seeking applications from interested persons for appointment as a member of the AUASB.  Applications are sought by 27 September 2013.... Read more

15 Aug. 2013

August 2013 Edition

The August 2013 edition of the AUASB International Update has been released.  The Update provides a summary of the auditing and assurance activities of a number of International standard-setting and professional bodies.  To subscribe for International Audit and Assurance Update use the Subscribe for Alerts tab on the AUASB home page and include AUASB newsletters and website update alerts in your list of subscriptions.

2 Aug. 2013

AUASB issues ED 02/13 ASA 610 (Revised) Using the Work of Internal Auditors and ED 03/13 Amendments to Australian Auditing Standards

The AUASB has issued two exposures drafts for comment:  ED 02/13 ASA 610 (Revised) Using the Work of Internal Auditors, and ED 03/13 ASA 2013-2 Amendments to Australian Auditing Standards.... Read more

1 Aug. 2013

Highlights from the 29 July 2013 Meeting

The AUASB has released the Highlights from its 29 July 2013 meeting.... Read more

26 Jul. 2013

AUASB invites comments on IAASB Auditor Reporting Exposure Draft

The AUASB invites comments on the IAASB Exposure DraftReporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing.   The Exposure Draft proposes significant changes to the Auditor’s Report which focus on communicative value to users. The AUASB requests all comments by 22 October 2013... Read more

3 Jul. 2013

AUASB Issues Amending Standard to Correct ASAs and Amends ASRS 4400

The AUASB has released: Amending Standard ASA 2013-3, comprising minor amendments to the Auditing Standards relating to typographical errors and other editorial corrections, along with the relevant compiled standards, and Amended Standard on Related Services, ASRS 4400 Agreed upon Procedures Engagements to Report Factual Findings. The amendments to ASRS 4400 remove the limitations on distribution of a report of factual findings for an agreed-upon procedures engagement. The standards apply from 1 July 2013.... Read more

26 Jun. 2013

Highlights from the 17 June 2013 Meeting

The AUASB has released the Highlights from its 17 June 2013 meeting.... Read more

24 Jun. 2013

Independence e-Newsletter issued for June 2013

The June 2013 edition of Independence, the AUASB’s e-Newsletter has been published.... Read more

28 May. 2013

AUASB issues Exposure Draft ED 01/13 for corrections to the ASAs and to amend ASRS 4400

The AUASB has released Exposure Draft ED 01/13 comprising the following proposals:

Part A – Minor amendments to the Auditing Standards relating to typographical errors and other editorial corrections. 

Part B – Amendments to ASRS 4400 to remove the limitations on distribution of a report of factual findings in an agreed-upon procedures engagement, but retention of the restriction of use of that report.

Comments on the ED are requested by no later than 26 June 2013.... Read more

17 May. 2013

AUASB issues revised Guidance Statement GS 004

The AUASB has issued revised Guidance Statement GS 004 Audit Implications of Prudential Reporting Requirements for General Insurers and Insurance Groups.... Read more

7 May. 2013

Highlights from the 29 April 2013 Meeting

The AUASB has released the Highlights from its 29 April 2013 meeting.... Read more

28 Mar. 2013

The AUASB has issued 3 new Pronouncements on review engagements

The AUASB has issued 3 new Pronouncements on review engagements: ASRE 2400 - the Australian equivalent of the IAASB’s revised standard; ASRE 2415 - this compiled standard reflects the consequential changes arising from the new ASRE 2400, and the introduction of the ACNC Act; and ASA 2013-1 the amending standard to ASRE 2415.

The new standards apply from 1 July 2013 (with early adoption permitted).... Read more

22 Mar. 2013

Independence e-Newsletter issued for March 2013

The March 2013 edition of Independence, the AUASB’s e-Newsletter has been published.... Read more

27 Feb. 2013

Highlights from the 25 February 2013 Meeting

The AUASB has released the Highlights from its 25 February 2013 meeting.... Read more

15 Feb. 2013

AUASB invites comments on IAASB Consultation Paper

The AUASB invites comments on the IAASB Consultation PaperA Framework for Audit Quality.... Read more

31 Jan. 2013

AUASB invites comments on IAASB Exposure Draft ISA 720

The AUASB invites comments on the IAASB’s Exposure Draft on International Standard on Auditing (ISA) 720The Auditor’s Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor’s Report Thereon.... Read more