Auditing Standard ASA 2021-5 Amendments to Australian Auditing Standards
Amendments to ASA 101Amendments to ASA 101
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Amendments to ASA 101
- Existing footnote 12 in paragraph A3 is amended to read as follows:
For legislative purposes, ASRE 2410 and ASRE 2415 are included in legislation as “Auditing Standards”:.
- Existing footnote 25 in paragraph A16 is amended to read as follows:
The term “professional judgement” is defined in the AUASB Glossary in the context of different types of AUASB Standards. For assurance engagements, see Framework for Assurance Engagements, paragraphs 56-60. For related services engagements, see ASREASRS 4400, paragraphs 13(j) and 18.
- Existing paragraph A31 is amended to read as follows:
The “Application” paragraph in each Auditing Standard that refers to audits or reviews conducted in accordance with the Corporations Act applies specifically to:
(d)(a) an audit or a review conducted under Part 2M.3 of the Act; and
(e)(b) an audit conducted under Part 7.8 of the Act.