Coronavirus (COVID-19) Guidance

AASB-AUASB Joint FAQ Publications

The AASB-AUASB has jointly published the following COVID-19 related publications on:

1) The Impact of Coronavirus on Financial Reporting and the Auditor’s Considerations; and
2) The Impact of COVID-19 on Going Concern and Related Assessments

To view more guidance for those involved in the preparation of the financial report please click here for AASB website.

Users of the financial report please click here for an explanation as to what users can expect to see in the COVID-19 environment.

Additional COVID-19 FAQs for Auditors

Click here to access additional COVID-19 FAQ's for Auditors.

The following topics are covered in the additional COVID-19 FAQs for Auditors:

A: Audit Planning and Risk Assessment
B: Audit Evidence
C: Auditing Accounting Estimates and Related Disclosures
D: Going Concern Considerations
E: Group Audit Considerations
F: Subsequent Events (Updated to include June Year Ends)
G: Audit Conclusion and Reporting
H: Director Solvency Statements
I: Professional Scepticism
J: Interim Financial Report

Please scroll down to view other useful guidance published by:

Other Australian Regulators
Professional Bodies
Other Countries (International)

Links to relevant third-party publications have been provided as an additional service. Please note that these publications have not been prepared by the AUASB, do not represent the AUASB’s views on the matters addressed nor are they endorsed by the AUASB

IAASB Guidance:

Other International Guidance:

Title Issued By
COVID-19: Ethics and Independence Considerations IESBA
COVID-19 Bulletin March 2020 Financial Reporting Council (UK)
Implications of the COVID-19 Outbreak on Audits and Auditors Independent Regulatory Board for Auditors (South Africa)
Impact of Coronavirus Outbreak on Audits and Auditors (February 2020) Hong Kong Institute of Certified Public Accountants
COVID-19 Resources from IFAC's Network IFAC


Information to be found in external publications provided by third parties , has been produced without editorial control or contributions by the AUASB. Any opinions, advice, statements, services, offers or other information or content made available within these publications remain those of the respective author(s) and the AASB is not responsible for any material posted by third parties. If viewing any of these publications as a source of advice, the AUASB strongly recommends that you seek professional advice prior to taking any action.

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