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Australian Auditing Standards

Auditor's Responsibilities

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Australian Auditing Standards

Australian Auditing Standards establish requirements and provide application and other explanatory material on:

  • the responsibilities of an auditor when engaged to undertake an audit of a financial report, or complete set of financial statements, or other historical financial information; and
  • the form and content of the auditor’s report

Previous versions of Australian Auditing Standards can be found in the Archive section of this website.

Click on the “Extra” links to access:

  • Explanatory Guides

Auditing Standards Made Under Section 336 of the Corporations Act 2001

No.                 Title Notes Approval
Date		 Operative
Date
ASQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Reports and Other Financial Information, or Other Assurance or Related Services Engagements Extra 10 Mar
2021		 15 Dec
2022
ASQM 2 Engagement Quality Reviews Extra 10 Mar
2021		 15 Dec
2022
ASQC 1 Auditing Standard ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements (Compiled) 11 Nov
2013		 1 Jan
2010*
ASQC 1 Auditing Standard ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements (Compiled) 30 May 2017 1 Jan 2018 early adoption permitted
ASQC 1 Auditing Standard ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 100 Preamble to AUASB Standards 28 Apr 
2006		 1 Jul 
2006
ASA 100 Preamble to AUASB Standards (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 101  Preamble to Australian Auditing Standards (Compiled) 27 Jun
2011		 1 Jan 2010   
ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements Extra 7 Mar 
2018		 31 Mar
2018****
ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements Extra 4 Dec 2019 31 Dec
2019** early adoption permitted
ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards (Compiled) 5 Dec 2018 15 Dec 2019*** early adoption permitted
ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 210 Agreeing the Terms of Audit Engagements (Compiled) 1 Dec 2015 15 Dec
2016
ASA 210 Agreeing the Terms of Audit Engagements (Compiled) 30 May 2017 1 Jan 2018 early adoption permitted
ASA 220
 Quality Control for an Audit of a Financial Report and Other Historical Financial Information (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 220 Quality Control for an Audit of a Financial Report and Other Historical Financial Information (Compiled) 30 May 2017 1 Jan 2018 early adoption permitted
ASA 220 Quality Control for an Audit of a Financial Report and Other Historical Financial Information (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 220 Quality Management for an Audit of a Financial Report and Other Historical Financial Information Extra 10 Mar
2021		 15 Dec
2022
ASA 230
 Audit Documentation (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 230 Audit Documentation (Compiled) 5 Dec 2018 15 Dec 2019*** early adoption permitted
ASA 240
 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report (Compiled) 30 May 2017 1 Jan 2018 early adoption permitted
ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report (Compiled) 5 Dec 2018 15 Dec 2019*** early adoption permitted
ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 250 Consideration of Laws and Regulations in an Audit of a Financial Report (Compiled) 27 Jun
2011		 1 Jan 2010   
ASA 250 Consideration of Laws and Regulations in an Audit of a Financial Report Extra 30 May 2017 1 Jan 2018
ASA 250 Consideration of Laws and Regulations in an Audit of a Financial Report (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 260 Communication With Those Charged With Governance Extra 1 Dec
2015 		 15 Dec
2016 
ASA 260 Communication With Those Charged With Governance (Compiled) 30 May 2017 1 Jan 2018 early adoption permitted
ASA 260 Communication With Those Charged With Governance (Compiled) 5 Dec 2018 15 Dec 2019*** early adoption permitted
ASA 260 Communication With Those Charged With Governance (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management (Compiled) 11 Nov 2013 1 Jan
2010
ASA 300 Planning an Audit of a Financial Report (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 315
 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 315 Identifying and Assessing the Risks of Material Misstatement Extra 4 Feb
2020		 15 Dec
2021
early adoption permitted
ASA 320
 Materiality in Planning and Performing an Audit (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 330
 The Auditor's Responses to Assessed Risks (Compiled)  1 Dec
2015		 15 Dec
2016
ASA 402 Audit Considerations Relating to an Entity Using a Service Organisation (Compiled) 11 Nov 2013 1 Jan
2010
ASA 450
 Evaluation of Misstatements Identified during the Audit (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 450 Evaluation of Misstatements Identified during the Audit (Compiled) 30 May 2017 1 Jan 2018 early adoption permitted
ASA 500
 Audit Evidence (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 500 Audit Evidence (Compiled) 30 May 2017 1 Jan 2018 early adoption permitted
ASA 500 Audit Evidence (Compiled) 5 Dec 2018 15 Dec 2019*** early adoption permitted
ASA 501  Audit Evidence—Specific Considerations for Inventory and Segment Information (Compiled)
27 Jun
2011		 1 Jan 2010   
ASA 502 Audit Evidence—Specific Considerations for Litigation and Claims (Compiled) 1 Jul 
2013		 1 Jan
2010 
ASA 505  External Confirmations 27 Oct 2009   1 Jan 2010   
ASA 505 External Confirmations (Compiled) 5 Dec 2018 15 Dec 2019*** early adoption permitted
ASA 510
 Initial Audit Engagements—Opening Balances (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 510 Initial Audit Engagements—Opening Balances (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 520  Analytical Procedures 27 Oct 2009   1 Jan 2010   
ASA 520 Analytical Procedures  (Compiled) 5 Dec 2018 15 Dec
2019*** 
early adoption permitted
ASA 530  Audit Sampling  27 Oct 2009   1 Jan 2010   
ASA 540
 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 540 Auditing Accounting Estimates and Related Disclosures Extra 5 Dec
2018		 15 Dec
2019
early adoption permitted
ASA 550 Related Parties (Compiled) 11 Nov 2013 1 Jan
2010
ASA 560
 Subsequent Events (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 570 Going Concern Extra 1 Dec
2015 		 15 Dec
2016 
ASA 570 Going Concern (Compiled) 30 Jun 2020 15 Jul
2020
ASA 580
 Written Representations (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 580 Written Representations (Compiled) 5 Dec 2018 15 Dec
2019*** 
early adoption permitted
ASA 600
 Special Considerations-Audits of a Group Financial Report (Compiled) 1 Dec
2015		 15 Dec
2016
ASA 600 Special Considerations-Audits of a Group Financial Report (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 610    Using the Work of Internal Auditors  11 Nov 2013 
1 Jan
2014  
ASA 620  Using the Work of an Auditor's Expert  27 Oct 2009   1 Jan 2010   
ASA 620 Using the Work of an Auditor's Expert  (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 700 Forming an Opinion and Reporting on a Financial Report (Compiled) Extra 30 May 2017 15 Dec
2016
ASA 700 Forming an Opinion and Reporting on a Financial Report (Compiled) 5 Dec 2018 15 Dec
2019*** 
early adoption permitted
ASA 700 Forming an Opinion and Reporting on a Financial Report (Compiled)

30 Jun 2020

 15 Jul
2020
ASA 701 Communicating Key Audit Matters in the Independent Auditor’s Report (Compiled) Extra 30 May 2017 15 Dec
2016
ASA 701 Communicating Key Audit Matters in the Independent Auditor’s Report (Compiled) 5 Dec 2018 15 Dec
2019*** 
early adoption permitted
ASA 705 Modifications to the Opinion in the Independent Auditor's Report Extra 1 Dec
2015		 15 Dec
2016
ASA 705 Modifications to the Opinion in the Independent Auditor's Report (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report Extra 1 Dec
2015		 15 Dec
2016
ASA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 710
 Comparative Information-Corresponding Figures and Comparative Financial Reports (Compiled)  1 Dec
2015		 15 Dec
2016
ASA 710 Comparative Information-Corresponding Figures and Comparative Financial Reports (Compiled)  30 Jun
2020		 15 Jul
2020
ASA 720 The Auditor's Responsibilities Relating to Other Information Extra 1 Dec
2015		 15 Dec
2016
ASA 720 The Auditor's Responsibilities Relating to Other Information (Compiled) 30 Jun
2020		 15 Jul
2020
ASA 800 Special Considerations-Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks (Compiled) Extra 30 May 2017 15 Dec
2016
ASA 800 Special Considerations-Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks (Compiled) 30 Jun
2020		 15 Jul
2020
ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (Compiled)
 1 Jul 
2013		 1 Jan
2010 
ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (July 2020) Extra 9 Jun
2020		 1 Jul
2020
ASRE 2415 Review of a Financial Report: Company Limited by Guarantee or an Entity Reporting under the ACNC Act or Other Applicable Legislation or Regulation (Compiled) 1 Jul 
2013		 1 Jul 
2013

 

Auditing Standards Not Made Under the Corporations Act 2001

No.                 Title Notes Approval
Date		 Operative
Date
ASA 805 Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement Extra

26 Jul
2016

 15 Dec
2016
ASA 805 Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement (Compiled) 30 May
2017		 15 Dec
2016
ASA 810 Engagements to Report on Summary Financial Statements Extra 13 Sep 2016 15 Dec 2016

 

Amending Standards

No.                   Title Notes Issue Date Operative Date
ASA 2013-1 Amending Standard to ASRE 2415 Review of a Financial Report – Company Limited by Guarantee 28 Mar 2013 1 Jul 2013
ASA 2013-2 Amendments to Australian Auditing Standards 11 Nov 2013 1 Jan 2014
ASA 2013-3 Amendments to Australian Auditing Standards 1 Jul 2013 1 Jul 2013
ASA 2015-1 Amendments to Australian Auditing Standards Extra 1 Dec 2015 15 Dec 2016
ASA 2017-1 Amendments to Australian Auditing Standards Extra 30 May 2017 15 Dec 2016
ASA 2017-2 Amendments to Australian Auditing Standards Extra 30 May 2017 1 Jan 2018
ASA 2018-1 Amendments to Australian Auditing Standards 5 Dec
2018		 15 Dec
2019
early adoption permitted
ASA 2020-1 Amendments to Australian Auditing Standards 3 Mar
2020		 15 Dec
2021
early adoption permitted
ASA 2020-2 Amendments to Australian Auditing Standards made under Section 336 of the Corporations Act 2001 Extra 30 Jun 2020

15 Jul
2020
ASA 2021-1 Auditing Standard ASA 2021-1 Amendments to Australian Auditing Standards 10 Mar
2021		 15 Dec
2022

 

Explanatory Guides

* Under ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports, Other Financial Information, and Other Assurance Engagements, systems of quality control in compliance with this Auditing Standard are required to be established by 1 January 2010.

** Operative for engagements with financial reporting periods ending on or after 31 December 2019

*** Early adoption, in conjunction with ASA 540 Auditing Accounting Estimates and Related Disclosures, permitted.

**** Operative for engagements with reporting periods ending on or after 31 March 2018