Auditing Standard ASA 2020-1 Amendments to Australian Auditing Standards
Amendments to ASA 260Amendments to ASA 260
Start here
Get a plain-English read of Amendments to ASA 260
Turn the raw legal text into a practical explanation grounded in Auditing Standard ASA 2020-1 Amendments to Australian Auditing Standards.
Amendments to ASA 260
- Existing paragraph A12 is amended to read as follows:
Communicating significant risks identified by the auditor helps those charged with governance understand those matters and why they were determined to be significant risks require special audit consideration. The communication about significant risks may assist those charged with governance in fulfilling their responsibility to oversee the financial reporting process.
- Existing paragraph A13 is amended to read as follows:
Matters communicated may include:
…
The auditor’s approach to the entity’s system of internal control. relevant to the audit.
…
- Existing footnote 27 in paragraph A52 is amended to read as follows:
See ASA 315, paragraph A78 Appendix 3.