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Media releases

2 Jul. 2015

Guidance on Grant Acquittals and Multi-scope engagements launched

A new initiative to assist auditors in achieving improvements in audit quality has been launched by the Auditing and Assurance Standards Board (AUASB).  Guidance Statement, GS 022, will support auditors in conducting grant acquittals and other multi-scope engagements, such as licencing requirements.... 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

4 Dec. 2012

AUASB Chairman says “there is no room for complacency in auditing”

Ms Merran Kelsall, Chairman of the Auditing and Assurance Standards Board (AUASB), in commenting on the ASIC Audit Inspection Report for 2011-12, said that “there is absolutely no room for complacency in Australian audit firms’ approach to undertaking audits in compliance with Australian Auditing Standards”.... Read more

19 Jan. 2012

Prof. Nonna Martinov-Bennie appointed to the AUASB

The Auditing and Assurance Standards Board (AUASB) welcomes the appointment of Prof. Nonna Martinov-Bennie to its membership in 2012.... Read more

2 Dec. 2011

European audit plan raises questions on how to improve audit quality

Australia’s auditing and assurance standards setter, the Auditing and Assurance Standards Board (AUASB), today questioned whether proposed changes to European audit regulation will achieve their stated objective of improving audit quality.... Read more

29 Jun. 2011

AUASB supports ASIC Audit firm Inspection Program

Merran Kelsall, Chairman of the Auditing and Assurance Standards Board (AUASB) endorsed the findings of the Australian Securities and Investments Commission (ASIC) audit inspection report for 2009-10.  The inspection program is primarily concerned with practitioners’ compliance with the Australian Auditing Standards in undertaking financial statement audits.... Read more

30 Jun. 2010

AUASB issues review standard to assist practitioners to conduct a review of a company limited by guarantee

The AUASB has issued an Auditing Standard on Review Engagements, ASRE 2415 Review of a Financial Report – Company Limited by Guarantee, which directs practitioners as to which standard to use when conducting a review of a company limited by guarantee.... Read more

24 Jun. 2010

AUASB introduces guidance to make it easier for auditors and banks

The AUASB has issued guidance on the procedures for obtaining audit evidence regarding an entity’s bank accounts and transactions, as well as updated bank confirmation request forms.

Guidance Statement GS 016 Bank Confirmation Requests, developed with the Australian Bankers Association and member banks, will be effective for audits of entities with reporting periods ending on or after 30 September 2010, thereby allowing lead time for auditors and banks to adjust processes and systems for the new guidance.... Read more