Federal Register of Legislation - Australian Government

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Standards/Accounting & Auditing as made
This instrument repeals and replaces the previously published ANAO auditing standards.
Administered by: Prime Minister and Cabinet
Registered 20 Jul 2015
Tabling HistoryDate
Tabled HR10-Aug-2015
Tabled Senate10-Aug-2015
Date of repeal 16 Mar 2017
Repealed by Australian National Audit Office (ANAO) Auditing Standards (09/03/2017)

15 July 2015

 

 

 

 

 

 

Australian National Audit Office Auditing Standards

 

 

 

 

 

 

 

 

 

 

 

 

 

Signed by the Auditor-General


 

AUSTRALIAN NATIONAL AUDIT OFFICE AUDITING STANDARDS

 

1.         As required by section 24 of the Auditor-General Act 1997 (the Act), I hereby set auditing standards that are to be complied with by persons performing any of the following functions:

 

(a)        an audit or review referred to in Division 1 (Annual financial statement audits); Division 1A (Annual performance statement audits); Division 2 (Performance audits) or Division 2A (Assurance reviews) of Part 4 of the Act; and

 

(b)        an audit under Division 2 of Part 7 of the Act (Audit of the Australian National Audit Office).

 

2.         The Australian National Audit Office (ANAO) Auditing Standards comprise the standards referred to below, to the extent that they are not inconsistent with requirements of the Act or other relevant legislation, and to the extent that they apply to the relevant audit or review activity:

 

(a)        Standards made by the Australian Auditing and Assurance Standards Board (AUASB) pursuant to sub-section 227B(1)(a) of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, that are current from time to time.

 

(b)        The standards listed in the following table that are issued by the AUASB pursuant to sub-section 227B(1)(b) of the Australian Securities and Investments Commission Act 2001.

 

Standard Number

Title

Issue Date

ASA 805

Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement

October 2009

ASA 810

Engagements to Report on Summary Financial Statements

October 2009

ASRE 2400

Review of a Financial Report Performed by an Assurance Practitioner Who is Not the Auditor of the Entity

March 2013

ASRE 2405

Review of Historical Financial Information Other than a Financial Report

August 2008

ASAE 3000

Assurance Engagements Other than Audits or Reviews of Historical Financial Information

June 2014

ASAE 3100

Compliance Engagements

September 2008

ASAE 3150

Assurance Engagements on Controls

January 2015

ASAE 3402

Assurance Reports on Controls at a Service Organisation

June 2014

Standard Number

Title

Issue Date

ASAE 3410

Assurance Engagements on Greenhouse Gas Statements

June 2014

ASAE 3420

Assurance Engagements to Report on the Compilation of Pro Forma Historical Financial Information included in a Prospectus or other Document

June 2014

ASAE 3450

Assurance Engagements involving Corporate Fundraisings and/or Prospective Financial Information

November 2012

ASAE 3500

Performance Engagements

October 2008

ASAE 3610 / AWAS 2  

Assurance Engagements on General Purpose Water Accounting Reports  

February 2014

ASRS 4450

Comfort Letter Engagements

May 2012

 

 

(c)        for Assurance Reviews undertaken under Division 2A of Part 4 of the Act that are designated by the Auditor-General as Limited Scope Assurance Reviews, the requirements in the Planning and Performing, Obtaining Evidence and Documentation sections of ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information issued in June 2014. The reporting arrangements for Limited Scope Assurance Reviews, including arrangements for reporting to the Parliament, will be as determined by the Auditor-General.

 

3.         The ANAO Auditing Standards relating to the conduct of financial statement and performance audits are consistent with ISSAI 200 Fundamental Principles of Financial Auditing and ISSAI 300 Fundamental Principles of Performance Auditing respectively, issued by the International Organisation of Supreme Audit Institutions (issued 2013).

 

4.         These ANAO Auditing Standards revoke all previous auditing standards set under section 24 of the Act.

 

 

 

Grant Hehir

Auditor-General

 

15 July 2015