Main FeaturesMain Features

Main Features

This Auditing Standard makes amendments to the requirements and application & other explanatory material and appendices of the following Auditing Standards for minor updates on the issue of Australian Standard on Sustainability Assurance ASSA 5000 General requirements for Sustainability Assurance Engagements:

ASQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Reports and Other Financial Information, or Other Assurance or Related Services Engagements (Issued March 2021 and amended to April 2022)

ASQM 2 Engagement Quality Reviews (Issued March 2021 and amended to April 2022)

ASA 720 The Auditor's Responsibilities Relating to Other Information (Issued December 2015 and amended to March 2023)

The amendments are consistent with changes made by the International Auditing and Assurance Standards Board (IAASB) on the issuing of International Standard on Sustainability Assurance ISSA 5000 General Requirements for Sustainability Assurance Engagements. Under the Strategic Direction given to the AUASB by the Financial Reporting Council, the AUASB is required to have regard to any programme initiated by the IAASB for the revision and enhancement of the standards issued by the IAASB and to make appropriate consequential amendments to the Australian standards.

AUTHORITY STATEMENT

The Auditing and Assurance Standards Board (AUASB) makes this Auditing Standard ASA 2025-2 Amendments to Australian Auditing Standards pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001.

Dated: 28 January 2025 D Niven
Chair - AUASB

Conformity with International Standards

This standard has been made for Australian legislative purposes and accordingly there is no equivalent standard issued by the International Auditing and Assurance Standards Board (IAASB).