AUASB Newsletter
March 2024 Newsletter
The March 2024 AUASB Newsletter is now available
The newsletter covers items such as:
- AUASB Consultations – IAASB ED on revisions to PIE definitions and IAASB ED on ISA 240 Fraud (Revised); and
- Congratulations to former AUASB Chair, Ms. Merran Kelsall, on her induction into the Australian Accounting Hall of Fame
December 2023 Newsletter
The December 2023 AUASB Newsletter is now available
The newsletter covers items such as:
- AUASB Feedback Statement – Decision Not to Adopt the ISA for LCE Standard in Australia
- AUASB Research Report 10: Deakin-AUASB Sustainability Assurance Research Workshop
- AUASB response to the IAASB on the Proposed International Standard on Sustainability Assurance
- Updates to AUASB Digital Standards Portal
- AASB-AUASB Joint Research Report: Trends in climate-related disclosures and assurance in the Annual Reports of ASX-listed entities
- FRC reappoints AUASB Board Members
- AASB Sustainability Exposure Draft Outreach
September 2023 Newsletter
The September AUASB Newsletter is now available.
The newsletter covers items such as:
- AUASB Consultation on the IAASB's Proposed ISSA 5000 General Requirements for Sustainability Assurance Engagements
- AUASB Bulletin - What not-for-profit entities need to know about the differences between an audit or review
- AUASB Submission on the IAASB's Exposure Draft on ISA 570 (Revised), Going Concern
- Dr Jenny Yang appointed as AUASB Scholar
- Stakeholder Database Updates 2023
June 2023 Newsletter
The June AUASB Newsletter is now available.
Content:
- AUASB Consultation Paper exposing the IAASB’s proposed ISA 570 (Revised) Going Concern
- AUASB and AASB Stakeholder Database Survey
- ASA 600 — Group Audit FAQs
- New Updates to AUASB Digital Standards Portal
- AUASB Feedback Statements including:
- ASAE 3500 Post Implementation Review
- Expanding Key Audit Matters Beyond Listed Entities
April 2023 Update
The April AUASB Newsletter is now available.
Content:
- Sustainability Assurance Update
- AUASB Issues Bulletin Auditing Fundraising Revenue of Not-for-Profit Entities in a Digital Ageto update and replace content in GS 019
- Post Implementation Review of ASAE 3500 Performance Engagements
- AASB-AUASB Dialogue Series – Navigating Going Concern Disclosures in Financial Reports and the Relevant Auditor’s Responsibilities
- AUASB Issues an Updated Version of AUASB Guidance Statement GS 023 to Support Public Sector Auditors in Applying Auditing Standard ASA 220
- AUASB issues ASA 2023-1 Amendments to Australian Auditing Standards
- AUASB Submission on the IAASB's Proposed Strategy and Work Plan for 2024-2027
- AUASB Submission on the IAASB's ISA 500 Audit Evidence
February 2023 Update
The February 2023 AUASB newsletter is now available.
Content:
- Technology Update
- Sustainability Assurance Update
- AUASB Consultations on:
- Proposed IAASB Standard on Auditing ISA 500 (Revised) Audit Evidence
- Should KAMs be Extended Beyond Listed Entities?
- IAASB’s Proposed Part 10 ISA for LCE Group Audits
- IAASB’s Proposed Strategy and Work Plan
- Supporting Auditors in Enhancing Audit Quality
- Perceptions of Audit Quality by Audit Committee Chairs in Australia
- AASB-AUASB Joint Research Report on Climate-Related Disclosures and Assurance in the Annual Reports of ASX Listed Companies
- Revised standards have been issued as a result of Quality Management Standards and other pronouncements
- IAASB Guidance to assist auditors on IAS changes
- AUASB Agenda Consultation Feedback Statement
- Former AUASB chair Merran Kelsall appointed as an Officer of the Order of Australia.
November 2022 Update
The November 2022 AUASB Newsletter is now available
Content:
- FRC Appoints Board Members to AUASB
- AUASB Board Chair Response to ASIC Reports
- AUASB Sustainability Assurance Update – October 2022
- AUASB Research Report No. 8: ANCAAR - AUASB Research and Regulation Workshop
- Audit Committees supporting Audit Quality
- New AUASB Bulletin - Evaluating the Reliability of Data obtained for Use in Audit Technology Tools
- Are you ready for ASA 315?
- IAASB Publication on Reporting Going Concern Matters in the Auditor's Report
- Revised GS 003 Assurance Relating to Australian Financial Services Licenses issued under the Corporations Act 2001
- AUASB welcomes IOSCO statement of support for IAASB development of Sustainability Assurance standards
- Development of simplified accounting requirements for smaller not-for-profit private sector entities
July 2022 Update
The July 2022 AUASB Newsletter is now available
Content:
- AUASB Bulletin: Auditor’s considerations in times of changing and uncertain economic conditions
- AUASB Agenda Consultation Roundtables
- AUASB Bulletin: ASA 315 and the Auditor’s Responsibilities for General IT Controls
- AUASB issues Further Guidance to support Public Sector Auditors in applying ASA 570 Going Concern
- Revised GS 016 Bank Confirmation Requests
- Exposure Draft ED 02/22 Proposed Conforming and Consequential Amendments to the other AUASB Standards to align to the IAASB Other Standards
- Feedback Statement - Post Implementation Review – ASAE 3100 Compliance Engagements
June 2022 Update
The June 2022 AUASB Newsletter is now available. This newsletter covers the major recent publications and developments from the AUASB.
The newsletter covers items such as:
- Highlights from the AUASB’s April meeting
- AUASB Agenda Consultation
- AASB Roundtables on ED 321 Request for Comment on [Draft] IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and [Draft] IFRS S2 Climate-related Disclosures
- The revised Group Audit Standard – ASA 600 - released by the AUASB
- New AUASB Bulletin Quality Management Standards – Enhancing Audit Quality
- Request for Comments on AUASB Exposure Draft Aligning Existing Australian-Specific AUASB Standards with New, Revised Quality Management Standards
- AUASB Research Report 7: A Literature Review on the Reporting and Assurance of Climate Related and Other Non-Financial Information
- IAASB Issues Non-Authoritative Guidance on Fraud in an Audit of Financial Statements
April 2022 Update
The April 2022 AUASB Newsletter is now available.
Content:
- Highlights from the AUASB’s March meeting
- ESG / Sustainability Reporting and Assurance developments
- Post Implementation Review – ASAE 3100 Compliance Engagements
- Webinar on the reissue of APES 320 as a quality management standard specific to non-assurance services provided by Firms
- Modernising GS 016 Bank Confirmation Requests
- Audit considerations on the removal of special purpose financial statements; and
- Proposed IAASB Standard for Less Complex Audits not supported by AUASB in its current form
December 2021 Update
The December 2021 AUASB Newsletter is now available.
Content:
- Highlights from the AUASB’s November/December meeting
- Release of the AASB and AUASB Joint Staff Article Globally consistent reporting for sustainability-related information: Australian perspectives
- Release of New Guidance targeting Public Sector Audit and Assurance Engagements
- ASIC’s Audit inspection report and AUASB Bulletin on Supporting Auditors in Enhancing Audit Quality
- Release of Implementation support materials for ASA 315 Identifying and Assessing the Risks of Material Misstatement
- AUASB Quality Management Awareness Guides
- Appointment of AUASB Chair to the International Auditing and Assurance Standards Board
- AUASB Board Member Changes
September 2021 Update
The September 2021 AUASB Newsletter is now available.
Content:
- Highlights from the AUASB’s September meeting
- Release of the AUASB Consultation Paper for Audits of Less Complex Entities
- The introductory video to the new and revised AUASB Quality Management Standards
- The AUASB bulletin on the integrity of data obtained for the purpose of an audit of a financial report
- The AUASB bulletin on Extended External Reporting (EER) Assurance Guidance in Australia
- The newly updated and reissued GS 010 Responding to Questions at an Annual General Meeting
- The newly issued revised AUASB standards and pronouncements following the September meeting
- Information on how to provide feedback on the AUASB’s digital standards portal
June 2021 Update
The June 2021 AUASB Newsletter is now available.
Content:
- Highlights from the AUASB’s June meeting
- Release of the new AUASB Digital Standards Portal
- Request for Comments on AUASB Exposure Draft 03/21 Proposed Auditing Standard ASA 2021-2 Amendments to Australian Auditing Standard ASA 560 Subsequent Events
- Request for Comments on AUASB Exposure Draft ED 02/21 Proposed Auditing Standard ASA 101 Preamble to AUASB Standards
- Guidance on planning and conducting the audit for the upcoming June reporting season
May 2021 Update
The May 2021 AUASB Newsletter is now available.
Content:
- Highlights from the AUASB’s April meeting
- AUASB Bulletin Audit Considerations on the removal of special purpose financial statements for certain for-profit private sector entities
- Newly released AUASB Bulletin on The Consideration of Cyber Security Risks in an Audit of a Financial Report
- AUASB Staff Guide for Prescribing Assurance and Related Services
- AUASB ED 01/21 Proposed Conforming and Consequential Amendments to the other AUASB Standards as a result of the New and Revised Quality Management Standards.
- The IAASB’s Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting (EER) Assurance Engagements
- The IAASB’s Public Report detailing its progress to support the public interest between July 2019 and December 2020
March 2021 Update
The March 2021 AUASB Newsletter is now available.
Content
- Highlights from the AUASB’s March meeting
- The AUASB’s newly released revised Quality Management Standards ASQM 1, ASQM 2 and ASA 220
- Implementation support materials on ASA 540 Auditing Accounting Estimates and Related Disclosures
- The AUASB’s 2nd report on Audit Quality in Australia: The Perspective of Audit Committee Chairs
- The revised version of the Foreword to AUASB Pronouncements
- The AUASB submission on the IAASB’s Fraud and Going Concern in an Audit of Financial Statements Discussion Paper
- Details on Acting AUASB Chair Bill Edge’s admission into the Australian Accounting Hall of Fame
- An international update featuring recent matters concerning the IAASB, IFIAR, IFAC and UK Government
