Fact sheets for business: Australian Auditing Standards
This series of fact sheets is designed to assist management, directors and audit committee members understand the likely impacts of the new Australian Auditing Standards. The fact sheets can be used as a basis for discussing expected changes with their auditors.
Directors, managers and other individuals with governance responsibilities may see some subtle changes to the audit process, including increased demands for directors' and staff time. They should also be aware of changes to the terminology of the auditor's opinion.
The new standards apply to all audits conducted under the Corporations Act as well as audits undertaken by members of CPA Australia of Australian-based organisations such as sports groups, local schools and not-for-profit organisations.
Fact sheet for management, directors and audit committee members about auditing standard ASA 200 Objective and general principles governing an audit of a financial report.
Fact sheet for management, directors and audit committee members about auditing standard ASA 260 Communication of audit matters with those charged with governance.
Fact sheet for management, directors and audit committee members about auditing standard ASA 700 The auditor's report on a general purpose financial report.
Fact sheet for management, directors and audit committee members about auditing standard ASA 800 The auditor's report on special purpose audit engagements.
Fact sheet for management, directors and audit committee members about auditing standard ASRE 2410 Review of an interim financial report performed by the independent auditor of the entity.
The full set of Australian Auditing Standards fact sheets for management, directors and audit committee members are also available to download and print.
