Section Objective - Auditing Standard ASA 2021-5 Amendments to Australian Auditing Standards - Objective

ObjectiveObjective

Start here

Get a plain-English read of Objective

Turn the raw legal text into a practical explanation grounded in Auditing Standard ASA 2021-5 Amendments to Australian Auditing Standards.

Objective

The objective of this Auditing Standard is to make amendments to the following Auditing Standards:
1. ASA 101 Preamble to AUASB Standards (Issued 7 September 2021)
2. ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards (Issued 27 October 2009 and amended to 7 September 2021)
3. ASA 240 The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report (Issued 27 October 2009 and amended to 30 June 2020)
4. ASA 330 The Auditor's Responses to Assessed Risks (Issued 27 October 2009 and amended to 1 December 2015)
5. ASA 502 Audit Evidence ─ Specific Considerations for Litigation and Claims (Issued 27 October 2009 and amended to 1 July 2013)
6. ASA 540 Auditing Accounting Estimates and Related Disclosures (Issued 5 December 2018)
7. ASA 550 Related Parties (Issued 27 October 2009 and amended to 11 November 2013)
8. ASA 560 Subsequent Events (Issued 27 October 2009 and amended to 7 September 2021)
9. ASA 570 Going Concern (Issued 1 December 2015 and amended to 30 June 2020)
10. ASA 610 Using the Work of Internal Auditors (Issued 11 November 2013)
11. ASA 620 Using the Work of an Auditor’s Expert (Issued 27 October 2009 and amended to 30 June 2020)
12. ASA 710 Comparative Information-Corresponding Figures and Comparative Financial Reports (Issued 27 October 2009 and amended to 30 June 2020)
13. ASRE 2415 Review of a Financial Report: Company Limited by Guarantee or an Entity Reporting under the ACNC Act or Other Applicable Legislation or Regulation (Issued 30 June 2010 and amended to 1 July 2013)