Conformity with International Standards Conformity with International Standards on Auditing

Conformity with International Standards on Auditing

24 Except as noted below, this Auditing Standard conforms with International Standard on Auditing ISA 580 Management Representations, issued by the International Auditing and Assurance Standards Board of the International Federation of Accountants. The main differences between this Auditing Standard and ISA 580 are:

• This Auditing Standard requires that the auditor “shall endeavour to obtain” appropriate written representations from management for matters noted in paragraphs 5, 9 and 12. ISA 580 requires that the auditor “should obtain” the appropriate written representations from management.
• This Auditing Standard makes reference to requirements of the Corporations Act 2001 (paragraph 6, 23(b) and 23(c). ISA 580 does not make reference to any specific legislation.

Compliance with this Auditing Standard enables compliance with ISA 580.