ASA 260 - Communication of Audit Matters with Those Charged With Governance - April 2006
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34 The requirements of a professional accounting body, legislation or regulation may impose obligations on the auditor to make communications on governance related matters. For example section 311 of the Corporations Act 2001 imposes a duty on the auditor to inform the Australian Securities and Investments Commission if certain circumstances arise during the audit. These additional communications requirements are not covered by this Auditing Standard, however, they may affect the content, form and timing of communications with those charged with governance.
35 In the public sector, obligations may be imposed on the auditor to communicate on governance related matters of a regulatory and compliance nature, which are broader than the types of matters discussed in this Auditing Standard. These matters may also include considerations of economy, efficiency and effectiveness of programs, projects and activities.
In addition, the auditor’s written communications may be placed on public record and distributed to a wider audience than solely those persons charged with governance of the entity being audited.