Amendments to ASA 502

Amendments to ASA 502

1. The existing paragraph following existing sub-heading “Effective Date” is re-numbered and as a result, subsequent paragraphs of this Auditing Standard are re-numbered and references to these paragraphs are updated accordingly.
2. Existing paragraph 5 is amended to read as follows:

If:

1. management refuses to give the auditor permission to communicate or meet with the entity’s external legal counsel, or the entity’s external legal counsel refuses to respond appropriately to the letter of enquiry, or is prohibited from responding; and (Ref: Para. Aus A8.7-Aus A8.8)
2. …