Stakeholders in the public sector are set to benefit from strengthened performance engagements, following the Auditing and Assurance Standards Board’s (AUASB) issuance of a new standard on assurance engagements, ASAE 3500 Performance Engagements.... Read more
21 Feb. 2017
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
21 Dec. 2016
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
16 Dec. 2016
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
The Financial Reporting Council has announced appointments of board members to the Auditing and Assurance Standards Board (AUASB).... Read more
2 Jul. 2015
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
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
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
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
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
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
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
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