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ISSN 1833‑4393
CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Additional Considerations in Initial Audit Engagements...............................A24
Appendix 1: Considerations in Establishing the Overall Audit Strategy
COMPILATION DETAILS
Auditing Standard ASA 300 Planning an Audit of a Financial Report (as Amended)
This compilation takes into account amendments made up to and including 27 April 2022 and was prepared on 1 March 2023 by the Auditing and Assurance Standards Board (AUASB).
This compilation is not a separate Auditing Standard made by the AUASB. Instead, it is a representation of ASA 300 (October 2009) as amended by other Auditing Standards which are listed in the Table below.
Table of Standards
Standard
Date made
Operative Date
ASA 300 [A]
27 October 2009
Financial reporting periods commencing on or after 1 January 2010
ASA 2011‑1 [B]
27 June 2011
Financial reporting periods commencing on or after 1 July 2011
ASA 2013‑2 [C]
11 November 2013
Financial reporting periods commencing on or after 1 January 2014
ASA 2015‑1 [D]
1 December 2015
Financial reporting periods ending on or after 15 December 2016
ASA 2020‑1 [E]
3 March 2020
Financial reporting periods commencing on or after 15 December 2021[*]
ASA 2021-1 [F]
10 March 2021
Financial reporting periods commencing on or after 15 December 2022
ASA 2022-1 [G]
27 April 2022
Financial reporting periods commencing on or after 15 December 2023
Legislation History
Standard
Registration Number
Registration Date
Commencement Date
ASA 300
F2009L04077
11 November 2009
12 November 2009
ASA 2011‑1
F2011L01379
30 June 2011
1 July 2011
ASA 2013-2
F2013L01939
14 November 2013
15 November 2013
ASA 2015-1
F2015L02032
16 December 2015
17 December 2015
ASA 2020-1
F2020L00252
13 March 2020
14 December 2021
ASA 2021-1
F2021L00403
1 April 2021
14 December 2022
ASA 2022-1
F2022L00712
19 May 2022
14 December 2023
Table of Amendments
Paragraph affected
How affected
By … [paragraph]
Appendix 1 Last sub‑heading
Amended
ASA 2011‑1 [27]
Appendix 1
Amended
ASA 2013‑2 [55] [56] [57]
9
Amended
ASA 2015‑1 [51]
A13 directly after existing A12
Addition
ASA 2015‑1 [52-53]
A14 directly after inserted A13
Addition
ASA 2015‑1 [54 and 56]
Footnote 9
Addition
ASA 2015-1 [55]
Appendix 1
Amended
ASA 2015‑1 [57]
A4Footnote 8
Amended
ASA 2020‑1 [65]
A21
Amended
ASA 2020‑1 [66]
A21Footnote 11
Addition
ASA 2020‑1 [66]
2 and its heading
Amended
ASA 2021-1 [54]
6
Amended
ASA 2021-1 [55]
6Footnotes 1 and 2
Amended
ASA 2021-1 [56]
8
Amended
ASA 2021-1 [57]
8Footnote 4
Addition
ASA 2021-1 [58]
Renumbering of Footnotes
Amended
ASA 2021-1 [59]
9
Amended
ASA 2021-1 [60]
11
Deleted
ASA 2021-1 [61]
12
Amended
ASA 2021-1 [62]
13
Amended
ASA 2021-1 [63]
13Footnote 17
Amended
ASA 2021-1 [64]
A1 before existing A1
Addition
ASA 2021-1 [65]
Renumbering of Paragraphs
Amended
ASA 2021-1 [66]
A2
Amended
ASA 2021-1 [67]
A4
Amended
ASA 2021-1 [68]
A6
Amended
ASA 2021-1 [69]
A7
Amended
ASA 2021-1 [70]
A8
Amended
ASA 2021-1 [71]
A9
Amended
ASA 2021-1 [72]
A10 after existing A8
Addition
ASA 2021-1 [73]
Renumbering of Paragraphs
Amended
ASA 2021-1 [74]
A18
Amended
ASA 2021-1 [75]
A18Footnote 13
Amended
ASA 2021-1 [76]
Existing A17
Deleted
ASA 2021-1 [77]
Renumbering of Paragraphs
Amended
ASA 2021-1 [77]
A19
Amended
ASA 2021-1 [78]
A22 after existing A20
Addition
ASA 2021-1 [79]
Renumbering of Paragraphs
Amended
ASA 2021-1 [80]
A24
Amended
ASA 2021-1 [81]
Appendix 1
Amended
ASA 2021-1 [82]
11
Addition
ASA 2022-1 [25]
A9
Amended
ASA 2022-1 [26]
Appendix 1Footnote 17
Amended
ASA 2022-1 [27]
AUTHORITY STATEMENT
Auditing Standard ASA 300 Planning an Audit of a Financial Report (as amended to 27 April 2022) is set out in paragraphs Aus 0.1 to A24 and Appendix 1.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Conformity with International Standards on Auditing
This Auditing Standard conforms with International Standard on Auditing ISA 300 Planning an Audit of Financial Statements issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
Compliance with this Auditing Standard enables compliance with ISA 300.