ASA 610 - Using the Work of Internal Auditors - October 2009
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Main Features
This Auditing Standard establishes requirements and provides application and other explanatory material relating to the auditor’s responsibilities in respect of the work of internal auditors where they have determined it is relevant to the external auditor.
This Auditing Standard:
- describes the relationship between the internal audit function and external audit;
- requires the external auditor to assess the internal audit function, and to determine the extent of planned reliance on the work performed; and
- requires the external auditor to document the conclusions reached on the work of internal audit, and the audit procedures performed by the external auditor on that work.
AUTHORITY STATEMENT
The Auditing and Assurance Standards Board (AUASB) makes this Auditing Standard ASA 610 Using the Work of Internal Auditors pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to Australian Auditing Standards, which sets out the intentions of the AUASB on how the Australian Auditing Standards, operative for financial reporting periods commencing, on or after 1 January 2010, 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 the Audit in Accordance with Australian Auditing Standards.
Dated: 27 October 2009 M H Kelsall
Chairman - AUASB