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15 Sep. 2017

AUASB Meeting Highlights – 12 September

Highlights from the September board meeting are now available via this (11 minute) podcast as well as the usual highlights document.

11 Sep. 2017

Appointment of Damian Paull to the role of National Director

We are pleased to announce the appointment of Damian Paull to the role of National Director, AASB and AUASB. Damian is a proven CEO with an excellent track record of leadership, change management and building high performance teams.... Read more

22 Aug. 2017

AUASB Strategy

AUASB Strategy: In collaboration with the Australian Accounting Standards Board (AASB), the AUASB has developed its strategy for the period 2017/18 – 2020/21. View the strategy and its associated documents.

21 Aug. 2017

FRC seeks applications for AUASB Members

FRC seeks applications for AUASB Members from individuals with experience in academic research and those with auditing and assurance in the public sector.... Read more

18 Aug. 2017

August newsletter released

The August 2017 newsletter is now available. Topics covered include the AUASB ISA 540 submission, the CA ANZ NOCLAR presentation and the latest AUASB meeting.

15 Aug. 2017

Way forward for professional scepticism

Way forward for professional scepticism: The global standard-setting boards for auditing, accounting ethics and accounting education have released a new publication, Toward Enhanced Professional Skepticism, on observations and ways to enhance professional scepticism.

1 Aug. 2017

AUASB submits feedback on ED ISA 540

The AUASB has today submitted feedback on the IAASB's Proposed International Standard on Auditing ISA 540 (Revised) Auditing Accounting Estimates and Related Disclosures. This follows extensive consultation with constituents at our Melbourne, Sydney and Brisbane roundtables, inviting comments via the website, and with formal discussions undertaken by AUASB members at recent board meetings.... Read more

27 Jul. 2017

AUASB Bulletin: Auditor review reports – the impact of the new auditor reporting requirements

Released today, AUASB Bulletin: Auditor review reports – the impact of the new auditor reporting requirements communicates how the new auditor reporting requirements may impact the format of auditor review reports for engagements conducted in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity.

 

21 Jul. 2017

AUASB Meeting Highlights – 18 July

Highlights from the July board meeting are now available via this (seven minute) podcast as well as the usual highlights document.

6 Jul. 2017

AUASB Provisional Strategy available for public comment

AUASB Provisional Strategy available for public comment: In collaboration with the Australian Accounting Standards Board (AASB), the AUASB has developed a provisional strategy for the period 2017/18 – 2020/21. The strategy is available for public comment until Friday 4 August ... read more

29 Jun. 2017

Auditor Reporting Requirements now in effect

All auditor's reports now look different and communicate more to users. The most significant change is the communication of Key Audit Matters (KAMs) in the auditor’s reports for listed entities. AUASB Chair Roger Simnett said, “The aim of the enhanced auditor's report is to increase the public’s confidence in both the audit process and the company financial statements... Read more

29 Jun. 2017

New Auditor Reporting FAQs available

New FAQs to assist stakeholders with the implementation of the new requirements have been added to the website.... Read more

29 Jun. 2017

New amending standard ASA 2017-1 issued

The AUASB has issued ASA 2017-1 Amendments to Australian Auditing Standards which amends ASA 210, ASA 700, ASA 701, ASA 800 and ASA 805.... Read more

29 Jun. 2017

Auditor Responsibility Statements updated

The Auditor Reponsibility Statements have been updated to accommodate a wider range of audit engagements. They are available via the AUASB website.

29 Jun. 2017

New Release – Audit Committees: A guide to good practice, 3rd Edition

An AICD, AUASB and IIA collaboration, this guide provides a practical introduction to the role and responsibilities of an audit committee. It explains the context in which an audit committee typically operates and outlines good practice. More information and to purchase.

13 Jun. 2017

Roger Simnett awarded Order of Australia

It is with great pleasure that, on behalf of the Auditing and Assurance Standards Board (AUASB) and the broader accounting and auditing professions, we extend our congratulations to AUASB Chair Roger Simnett on his appointment to the Order of Australia yesterday.... Read more

2 Jun. 2017

AUASB Meeting Highlights – 30 May 2017

The AUASB has released the highlights from its 30 May 2017 meeting.

24 May. 2017

ED 01/17 Performance Engagements – comments invited

This proposed ASAE establishes requirements and provides application material regarding the conduct of and reporting on assurance engagements on performance. The standard replaces the existing ASAE 3500 Performance Engagements, last revised and issued by the AUASB in October 2008... Read more

23 May. 2017

Auditor Reporting – New FAQs available

The new enhanced auditor reporting requirements are now in effect. To assist stakeholders the AUASB has made a series of FAQs available via the website. The AUASB has issued the following additional FAQs... Read more

5 May. 2017

AUASB Meeting Highlights – 26 April 2017

The AUASB has released the highlights from its 26 April 2017 meeting.

3 May. 2017

AUASB issues revised Guidance Statement GS 001

The AUASB has released an updated Guidance Statement GS 001 Concise Financial Reports Under the Corporations Act 2001.... Read more

24 Apr. 2017

AUASB invites comments on IAASB Exposure Draft ISA 540

The AUASB invites comments on Proposed International Standard on Auditing ISA 540 Auditing Accounting Estimates and Related Disclosures. Significant changes in how auditors evaluate accounting estimates and related disclosures have been proposed by the International Auditing and Assurance Standards Board (IAASB)... Read more

21 Apr. 2017

AUASB Chair Roger Simnett talks Key Audit Matters with AICD Senior Policy Adviser Kerry Hicks

AUASB Chair Roger Simnett is featured in this AICD article which addresses the key requirements of the new auditing standard ASA 701: Communicating Key Audit Matters in the Independent Auditor’s Report.

10 Apr. 2017

ASAE 3100 – Compliance engagement requirements set to be clearer

Published as part of the CA ANZ's Perspective series, this AUASB article provides guidance on the application of the revised standard, ASAE 3100 Compliance Engagements.

4 Apr. 2017

Panel Discussions - The New Enhanced Auditor's Report

Together with CA ANZ and CPA Australia, the AUASB is holding an informative session on the experiences and lessons learned from early adopters of the Enhanced Auditor Reporting standards.
Tuesday 9 May, Brisbane.
More information.

3 Mar. 2017

AUASB Meeting Highlights - 1 March 2017

The AUASB has released the Highlights from its 1 March 2017 meeting.

Compliance Engagement Requirements Set to be Clearer

Australian assurance practitioners will now have greater clarity when conducting compliance assurance engagements following the Auditing and Assurance Standards Board’s (AUASB) issuance of revised ASAE 3100.... Read more

13 Jan. 2017

Matthew Zappulla appointed as Technical Director

We are excited to announce the appointment of Matthew Zappulla to the position of Technical Director at the AUASB.

The Technical Director will lead the development and delivery of AUASB standard-setting projects. ... Read more

9 Jan. 2016

AUASB invites comments on IAASB Discussion Paper on Agreed-Upon Procedures, Engagements and Other Services

The International Auditing and Assurance Standards Board (IAASB)’s Agreed-Upon Procedures (AUP) Working Group has released its Discussion Paper, Exploring the Demand for Agreed-Upon Procedures Engagement and Other Services, and the Implications for the IAASB’s International Standards. Read more....

22 Dec. 2016

CPA podcast: Changes to Auditor Reporting

Jim Sylph, co-chair of the IAASB’s auditor reporting implementation working group, and Merran Kelsall, AUASB Chairman, explain the uptake around the world and the experiences of countries which have already implemented the changes and firms which have early adopted in this CPA-published podcast.

Listen to the podcast.

19 Dec. 2016

AUASB and AASB Office Closure

The Offices of the AASB and AUASB will close for the Christmas - New Year holiday period from 5.00pm on Friday 23 December and will re-open at 9.00am on Tuesday 3 January 2017.  We take this opportunity to wish you a safe and happy Festive Season.

16 Dec. 2016

Appointment - Chair of the Auditing and Assurance Standards Board

Treasurer, the Hon Scott Morrison MP and Minister for Revenue and Financial Services, Kelly O’Dwyer MP, today announced the appointment of Professor Roger Simnett as the Chair of the Auditing and Assurance Standards Board (AUASB) for a five-year period commencing on 1 April 2017. Read more...

2 Dec. 2016

FRC appoints board members to the AUASB

The Financial Reporting Council has announced appointments of board members to the Auditing and Assurance Standards Board (AUASB). ...Read more

21 Nov. 2016

Auditor Reporting FAQs

The AUASB has published a set of FAQs to assist with the adaption to the enhanced auditor reporting requirements that come into effect for the upcoming 31 December 2016 reporting season.

New Roles – Seeking Applicants

The AASB and AUASB are excited to announce that we have commenced recruitment for a further two newly created roles: a Finance and Risk Manager and a Communications Manager. Click here for further information.

28 Oct. 2016

Four new Technical Roles - Seeking Applicants

The AASB and AUASB is excited to announce that we have commenced recruitment for four newly created technical roles: Research Director, AASB, Technical Director, AUASB, Project Manager, AASB & Assistant Project Manager, AUASB . Click here for further information.

5 Oct. 2016

AUASB issues revised Australian Auditing Standard ASA 810

The AUASB has released revised Australian Auditing Standards ASA 810 Engagements to Report on Summary Financial Statements.... Read more

16 Sep. 2016

Highlights of AUASB Meeting 13 September 2016

The AUASB has released the Highlights from its 13 September 2016 meeting.

1 Sep. 2016

Justin Lachal appointed to new National Director role

The Australian Accounting Standards Board (AASB) and the Australian Auditing and Assurance Standards Board (AUASB) are pleased to announce the appointment of Justin Lachal to the role of National Director, supporting both the AASB and the AUASB.... Read more

30 Aug. 2016

FRC seeks applications for membership of AUASB and AASB in 2016-17

The Financial Reporting Council is seeking applications from interested persons for appointment of members of the AUASB and AASB.  Applications are sought by 11 September 2016.... Read more

22 Aug. 2016

AUASB invites comments on Exposure Draft 04/16

The AUASB invites comments on Exposure Draft 04/16 Proposed Standard on Assurance Engagements ASAE 3100 Compliance Engagements.... Read more

2 Aug. 2016

Appointment of Mr Robert Buchanan to the AUASB

Ms Merran Kelsall, Chairman of the Auditing and Assurance Standards Board (AUASB), is very pleased to announce that the Financial Reporting Council (FRC) has appointed Mr Robert Buchanan as a Member of the AUASB for three years from 1 July 2016.... Read more

17 Jun. 2016

Highlights of AUASB Meeting 14 June 2016

The AUASB has released the Highlights from its 14 June 2016 meeting.

13 May. 2016

National Director role for both AASB & AUASB

A new role of National Director for the AASB & AUASB has been created. If you are interested in helping the Boards contribute to investor confidence in the Australian market, have strong management, strategic planning and HR skills, and are seeking a genuine leadership opportunity, apply now.

2 May. 2016

New Financial Reporting Council Chair appointed

Congratulations to William (Bill) Edge on his appointment as Financial Reporting Council (FRC) Chair. Merran Kelsall, Chair Auditing and Assurance Standards Board (AUASB), and Kris Peach, Chair Australian Accounting Standards Board (AASB), said “We welcome Bill’s appointment. His skills and experience from public practice and academia will enable the FRC to support the AASB and AUASB in achieving the important objective of maintaining confidence in the Australian economy.  We look forward to working closely with him.”

http://agh.ministers.treasury.gov.au/media-release/005-2016/

21 Apr. 2016

Highlights of AUASB Meeting 18 April 2016

The AUASB has released the Highlights from its 18 April 2016.

20 Apr. 2016

July AUASB Meeting to be held in Sydney

Note: the 26 July AUASB Meeting will be held in Sydney at the offices of CA ANZ, 33 Erskine Street (from 10.00 a.m. to 5.00 p.m.).

10 Mar. 2016

Recruitment - Australian Auditing and Assurance Standards Board (AUASB) Chair

Applications are currently being sought for the the position of the Australian Auditing and Assurance Standards Board (AUASB) Chair...Read More

2 Mar. 2016

Highlights of AUASB Meeting 22 February 2016

The AUASB has released the Highlights from its 22 February 2016.

24 Dec. 2015

December 2015 Edition

The December 2015 edition of AUASB International Update has been published.... Read more

18 Dec. 2015

Enhanced Auditor Reporting Requirements announced by AUASB

The Auditing and Assurance Standards Board (AUASB) has issued one new, a number of revised and amended auditing standards that adopt the recent improvements made to the equivalent International Standards on Auditing (ISAs) by the International Auditing and Assurance Standards Board (IAASB).... Read more

17 Dec. 2015

FRC appoints new Board Members to the AUASB

The Financial Reporting Council (FRC) has announced appointments as members of the Auditing and Assurance Standards Board (AUASB).... Read more

23 Oct. 2015

AUASB invites comments on Exposure Draft 03/15 – addressing financial statement disclosures in the audit of financial statements

The Australian Auditing and Assurance Standards Board (AUASB) today issue a proposal to revise existing auditing standards: Australian Auditing Standard ASA 2015-3 Amendments to Australian Auditing Standards. This proposed Amending Standard makes changes to various Auditing Standards aimed at enhancing the auditor’s consideration of disclosures in the audit of the financial statements.... Read more

13 Oct. 2015

Update: GS 009 Auditing Self-Managed Superannuation Funds

Changes to paragraphs 72 and 113 of GS 009 have been made by the AUASB in order to further clarify the guidance in these paragraphs.

6 Oct. 2015

AUASB issues revised Guidance Statement GS 009

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

1 Oct. 2015

AUASB issues revised Guidance Statement GS 003

The AUASB has released a revised Guidance Statement GS 003 Assurance Relating to Australian Financial Services Licences issued under the Corporations Act 2001.... Read more

23 Sep. 2015

The External Reporting Board Appoints New Chief Executive

The AUASB congratulates Warren Allen on his appointment as CEO of the External Reporting Board (XRB) New Zealand.

17 Sep. 2015

Auditing and Assurance Standards Board is relocating

The Office of the AUASB is relocating on Monday 21st September 2015.  Our new address is Podium Level, Level 14, 530 Collins Street, Melbourne. Our phone numbers, email and website address will remain the same.

Please note that AUASB staff will not have access to emails and phone from Friday 18th till Sunday 20th September. AUASB website and its content will be available as normal during this time.

17 Sep. 2015

Highlights of AUASB Meeting 15 September 2015

The AUASB has released the Highlights from its 15 September 2015 meeting.

4 Sep. 2015

Auditing and Assurance Standards Board (AUASB) applications for appointment as a member

The Financial Reporting Council (FRC) is seeking applications to fill two vacancies on the AUASB for individuals currently providing audit or assurance services. Expertise in specialist IT audit, use of data analytics, group audit or audits of financial institutions would also be valuable.... Read more

25 Aug. 2015

IAASB issues publication on Exploring Assurance on Integrated Reporting and Other Emerging Developments in External Reporting

The purpose of this publication, prepared by the Integrated Reporting Working Group, is to inform stakeholders about the IAASB’s ongoing work to explore assurance on integrated reporting and other emerging developments in external reporting.... Read more

25 Aug. 2015

August 2015 Edition

The August 2015 edition of AUASB International Update has been published.... Read more

12 Aug. 2015

AUASB invites comments on IAASB Exposure Drafts ISA 250 & ISA 810.

The IAASB has released Exposure Drafts for comment on:

- ISA 810, Reporting on Summary Financial Statements

- ISA 250, Responding to Non-Compliance or Suspected Non-Compliance with Laws and Regulations... Read more

5 Aug. 2015

Highlights of AUASB Meeting 28 July 2015

The AUASB has released the Highlights from its 28 July 2015 meeting.

10 Jul. 2015

July 2015 Edition

The July 2015 edition of AUASB International Update has been published.... Read more

3 Jul. 2015

Influential Executive role in New Zealand

The External Reporting Board (XRB) of New Zealand is looking for a CEO to help create a world-class standards framework that contributes to New Zealand’s excellent reputation and commercial integrity.

2 Jul. 2015

AUASB issues a new Guidance Statement – GS 022 Grant Acquittals and Multi-Scope Engagements

GS 022 assists auditors in exercising professional judgement in applying the AUASB Standards to a selection of common practical application issues.... Read more

15 Jun. 2015

AUASB issues revised Guidance Statement GS 018 Franchising Code of Conduct – Auditor's Report

The AUASB has issued revised Guidance Statement GS 018 Franchising Code of Conduct – Auditor’s Reports on 15 June 2015 which replaces GS 018 Franchising Code of Conduct – Auditor’s Reports issued in October 2010.... Read more

12 Jun. 2015

AUASB invites comments on Exposure Draft 02/15 – the auditor’s responsibilities relating to other information included in an entity’s annual report

The Australian Auditing and Assurance Standards Board (AUASB) today issue a proposal to revise the existing Australian Auditing Standard ASA 720 The Auditor’s Responsibilities Related to Other Information in Documents Containing an Audited Financial Report. This proposed Standard, which has been re-titled ASA 720 The Auditor’s Responsibilities Related to Other Information, deals with the auditor’s responsibilities relating to other information included in an entity’s annual report and its revision is part of the AUASB’s project on enhanced auditor reporting.... Read more

12 Jun. 2015

Highlights of AUASB Meeting 9 June 2015

The AUASB has released the Highlights from its 9 June 2015 meeting.

27 May. 2015

May 2015 Edition

The May 2015 edition of AUASB International Update has been published.... Read more

12 May. 2015

AUASB Special Meeting 19 May 2015

The next special meeting of the AUASB will be held on Tuesday, 19 May 2015 commencing at 10.00 a.m.  This meeting will be held via teleconference to consider and approve a proposed exposure draft for ISA/ASA 720 The Auditor’s Responsibilities Relating to Other Information.

Interested stakeholders are welcome to come to the AUASB Board room to listen to the discussion.

30 Apr. 2015

AUASB invites comments on Exposure Draft 01/15 – enhancements to auditor reporting

The first tranche of exposure drafts addressing the enhancements to auditor reporting have been published today by the AUASB.... Read more

24 Apr. 2015

Highlights of AUASB Meeting 20 April 2015

The AUASB has released the Highlights from its 20 April 2015 meeting.

9 Apr. 2015

IAASB issues new standard on the auditor’s responsibilities for other information included in an annual report

The revised standard, ISA 720 The Auditor’s Responsibilities Relating to Other Information was released today by the International Auditing and Assurance Standards Board (IAASB). ... Read more

27 Mar. 2015

Independence e-Newsletter issued for March 2015

The March 2015 edition of Independence, the AUASB’s e-Newsletter has been published.... Read more

23 Mar. 2015

Ms Robin Low appointed Deputy Chairman AUASB

I am pleased to announce that AUASB Member, Ms Robin Low, has been appointed Deputy Chairman of the AUASB.... Read more

16 Mar. 2015

AUASB issues revised Guidance Statement GS 005

The AUASB has released an updated Guidance Statement GS 005 Using the Work of a Management’s Expert.... Read more

4 Mar. 2015

Now is the Time to be Heard: Survey on Quality Control - Small and Medium Sized Practices

The International Auditing and Assurance Standards Board (IAASB) has issued a survey in connection with its new Quality Control Initiative.... Read more

26 Feb. 2015

Highlights of AUASB Meeting 24 February 2015

The AUASB has released the Highlights from its 24 February 2015 meeting.

6 Feb. 2015

February 2015 Edition

The February 2015 edition of AUASB International Update has been published.... Read more

16 Jan. 2015

IAASB Issues New and Revised Auditor Reporting Standards and Related Conforming Amendments

The first group of key changes to auditor reporting standards was released today by the International Auditing and Assurance Standards Board (IAASB). ... Read more

9 Jan. 2015

AUASB Issues Standard on Controls Assurance

A new key standard on controls assurance has been issued by the AUASB, following approval in late December 2014.  The new Standard on Assurance Engagements ASAE 3150 Assurance Engagements on Controls is operative for assurance engagements commencing on or after 1 January 2016, with early adoption permitted*.   The proposed standard replaces the existing standard, AUS 810 Special Purpose Reports on the Effectiveness of Control Procedures, last revised by the former AuASB in 2002.... Read more