Feedback Statement — Post Implementation Review of ASAE 3500 Performance Engagements

Friday, June 16, 2023

In accordance with the AUASB’s Due Process Framework, the AUASB has recently conducted a Post Implementation Review (PIR) of its Standard on Assurance Engagements ASAE 3500 Performance Engagements, to evaluate the effectiveness and efficiency of the Standard’s implementation in practice.

At its June 2023 meeting, the AUASB endorsed a Feedback Statement that summarises the outcomes from the PIR and approved a new project which will make narrow scope amendments to the Standard to address the key findings from the review.

The Feedback Statement addresses the key findings from the PIR and recommendation to the AUASB in greater detail.