APES 210 Conformity with Auditing and Assurance Standards sets out mandatory requirements and guidance for members. Members must comply with auditing and assurance standards when they conduct assurance assignments or assurance engagements.
Scope and application
APES 210 Conformity with Auditing and Assurance Standards was originally issued in September 2008 and revised in November 2011 and October 2015. The latest revision on APES 210 by APESB was in July 2019. The revised standard, which is effective from 1 January 2020, requires members in Australia to adhere to its mandatory requirements. For members outside of Australia the scope of the standard must be followed as long as it does not contravene local laws and/or regulations in the country they are working.
A member in business undertaking work, including honorary work that is within the scope of an assurance engagement, is deemed to be a member in public practice for the purpose of APES 210. Consequently, members who are in these circumstances must also comply with auditing and assurance standards when they perform assurance engagements (for example, audits of a local charity or social club).
Fundamental responsibilities of members
APES 210 requires members to observe and comply with their public interest obligations when they perform an assurance assignment or assurance engagement. Members must adhere with the professional obligations established in APES 110 Code of Ethics for Professional Accountants (including Independence Standards) in respect of:
- Section 113 – Professional Competence and Due Care
- Part 4A – Independence for Audit and Review Engagements
- Part 4B – Independence for Assurance Engagements Other than Audit and Review Engagements
Auditing and assurance standards
APES 210 requires members to comply with auditing and assurance standards. The only exception to this requirement is where legislation or other government authority requires a departure from such standards. In circumstances where a departure is required, the member is required to disclose that fact in the member's report.
Auditing and assurance guidance
Members should follow auditing and assurance guidance issued by the AUASB.
Refer to the APES 210 for information concerning definitions.
Auditing small and medium entities
Resources to help auditors understand the needs of smaller clients
Small Entities Audit Manual (SEAM)
INPRACTICE: Auditing Standard ASQM 1: Far more than a checklist
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System of Quality Management Tool for firms providing audit and assurance services
Our smart tool helps you address the new requirements of Quality Management for firms providing audit and assurance services
- Public practice
- Professional standards
A guide to understanding auditing and assurance: Australian Listed Companies
A guide to understanding auditing and assurance: FMC Reporting Entities in New Zealand