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This Auditing Standard reproduces substantial parts of the corresponding International Standard on Auditing issued by the International Auditing and Assurance Standards Board (IAASB) and published by the International Federation of Accountants (IFAC), in the manner described in the statement on Conformity with International Standards on Auditing. The AUASB acknowledges that IFAC is the owner of copyright in the International Standard on Auditing incorporated in this Auditing Standard throughout the world.
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ISSN 1833-4393
CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Evaluating the Evidence Obtained...........................................A24-A25
COMPILATION DETAILS
Auditing Standard ASA 505 External Confirmations (as Amended)
This compilation takes into account amendments made up to and including 3 March 2020 and was prepared on 10 November 2021 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 505 (October 2009) as amended by other Auditing Standards which are listed in the Table below.
Table of Standards
Standard
Date made
Operative Date
ASA 505 [A]
27 October 2009
Financial reporting periods commencing on or after 1 January 2010.
ASA 2018-1 [B]
5 December 2018
Financial reporting periods commencing on or after 15 December 2019, with early adoption permitted[*].
ASA 2020-1 [C]
3 March 2020
Financial reporting periods commencing on or after 15 December 2021[#]
[A] Federal Register of Legislation – registration number F2009L04088, 12 November 2009
[B] Federal Register of Legislation – registration number F2019L00016, 3 January 2019
[C] Federal Register of Legislation – registration number F2020L00252, 13 March 2020
Table of Amendments
Paragraph affected
How affected
By … [paragraph]
2Footnote 4
Amended
ASA 2018-1 [50]
2Footnote 5
Amended
ASA 2018-1 [51]
3Footnote 11
Amended
ASA 2018-1 [52]
A9Footnote 14
Amended
ASA 2020-1 [130]
A17Footnote 18
Amended
ASA 2020-1 [131]
A19Footnote 20
Amended
ASA 2020-1 [132]
AUTHORITY STATEMENT
Auditing Standard ASA 505 External Confirmations (as amended to 3 March 2020) is set out in paragraphs Aus 0.1 to A25.
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 505 External Confirmations, 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 505.