AUASB 2025-12 Amendments to AUASB Standards
Reasons for Issuing AUASB 2025-12Reasons for Issuing AUASB 2025-12
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Reasons for Issuing AUASB 2025-12
The AUASB issues AUASB 2025-12 Amendments to AUASB Standards pursuant to the requirements of the legislative provisions and the Strategic Direction explained below.
The AUASB was established under section 227A of the Australian Securities and Investments Commission Act 2001. Under section 336 of the Corporations Act 2001, the AUASB may make Auditing Standards for the purposes of the corporations legislation. These Auditing Standards are legislative instruments under the Legislation Act 2003.
Under the Strategic Direction given to the AUASB by the Financial Reporting Council, the AUASB is required, inter alia, to develop auditing standards that have a clear public interest focus and are of the highest quality.