Audit Committees supporting Audit Quality

The Australian Institute of Company Directors (AICD) and AUASB support all parties in the financial reporting chain working together to maintain audit quality and high-quality financial reporting.  To assist audit committees in fulfilling their responsibilities, the AICD and the AUASB have issued a new publication, Periodic Comprehensive Review of External Auditor, which provides guidance on a process and matters to consider when assessing their auditor.

AUASB welcomes IOSCO statement of support for IAASB development of Sustainability Assurance standards

Monday, September 26, 2022

The AUASB welcomes the recent announcement from the International Organization of Securities Commissions (IOSCO) of its support and encouragement for the International Auditing and Assurance Standards Board’s (IAASB) work on developing standards relating to assurance of sustainability-related information. IOSCO’s statement endorses the need for a globally consistent approach to this issue being led by the IAASB, which then the AUASB are likely to review and adopt (subject to any local conforming amendments) as is the case with other IAASB standards.

ANCAAR and AUASB Audit and Assurance Research and Regulation Workshop

The Australian National Centre for Audit and Assurance Research (ANCAAR) and AUASB hosted a joint Research and Regulation workshop on 15 and 16 September in Canberra. The objective of the workshop was to explore research that is relevant to the AUASB’s standard setting agenda as part of our Evidence Informed Standard Setting Strategy. The workshop was attended by AUASB staff, leading auditing and assurance academics and representatives from regulators and the accounting professional bodies. Some of the topics discussed were assurance over Sustainability Reporting, Going Concern, Fraud, the Auditing of Less Complex Entities, Internal Control Reporting, and Public Sector Auditing.

Audits of Less Complex Entities

Access support materials pertaining to audits of Less Complex Entities here.

Work Program

Here you will find the latest updates pertaining to the AUASB's Work Program.

COVID-19 Guidance

We have compiled a list of AUASB, government, and industry resources related to the impacts of COVID-19 on financial reporting.