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Commonwealth legislation
ASA 600 sets rules for auditing group financial reports, requiring the group auditor to retain overall responsibility while often relying on component auditors. It covers planning, risk assessment, materiality (including component performance materiality), evidence-gathering and addresses aggregation risk.
It affects auditors of consolidated or multi-entity reports under the Corporations Act and matters because it ensures coordinated oversight and a supported group audit opinion across multiple entities.
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Direct links to the current provisions in Auditing Standard ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors).
The most recently compiled versions of Auditing Standards, original Standards and amending Standards (see Compilation Details) are available on the AUASB website: www.auasb.gov.au
| Auditing and Assurance Standards BoardPhone: (03) 8080 7400E-mail: enquiries@auasb.gov.auPostal Address:PO Box 204Collins Street WestMelbourne Victoria 8007AUSTRALIA |
|---|
© 2024 Commonwealth of Australia. The text, graphics and layout of this Auditing Standard are protected by Australian copyright law and the comparable law of other countries. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non‑commercial use subject to the inclusion of an acknowledgment of the source as being the Australian Auditing and Assurance Standards Board (AUASB).
Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au. Otherwise, no part of this Auditing Standard may be reproduced, stored or transmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.
This Auditing Standard reproduces substantial parts of the corresponding International Standard on Auditing issued by the International Auditing and Assurance Standards Board (IAASB) and published by the International Federation of Accountants (IFAC), in the manner described in the statement on Conformity with International Standards on Auditing. The AUASB acknowledges that IFAC is the owner of copyright in the International Standard on Auditing incorporated in this Auditing Standard throughout the world.
All existing rights in this material are reserved outside Australia. Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.
Further information and requests for authorisation to reproduce this Auditing Standard for commercial purposes outside Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au. Any decision to approve a request may also require the agreement of IFAC.
ISSN 1833-4393
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Paragraphs
Application......................................................Aus 0.1-Aus 0.2
Operative Date.........................................................Aus 0.3
Introduction
Scope of this Auditing Standard................................................1-11
Effective Date..............................................................12
Objectives.................................................................13
Definitions..............................................................14-15
Requirements
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit............16
Acceptance and Continuance.................................................17-21
Overall Group Audit Strategy and Group Audit Plan................................22-29
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control 30-32
Identifying and Assessing the Risks of Material Misstatement.........................33-34
Materiality..............................................................35-36
Responding to the Assessed Risks of Material Misstatement...........................37-44
Evaluating the Component Auditor’s Communications and the Adequacy of Their Work......45-48
Subsequent Events.........................................................49-50
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained...............51-52
Auditor’s Report.............................................................53
Communication with Group Management and Those Charged with Governance of the Group...54-58
Documentation..............................................................59
Application and Other Explanatory Material
Scope of this ASA.......................................................A1-A18
Definitions............................................................A19-A28
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit.......A29-A31
Acceptance and Continuance...............................................A32-A46
Overall Group Audit Strategy and Group Audit Plan..............................A47-A87
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control A88-A107
Identifying and Assessing the Risks of Material Misstatement.....................A108-A115
Materiality..........................................................A116-A123
Responding to the Assessed Risks of Material Misstatement......................A124-A143
Evaluating the Component Auditor’s Communication and the Adequacy of Their Work..A144-A149
Subsequent Events.........................................................A150
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained..........A151-A156
Auditor’s Report......................................................A157-A158
Communication with Group Management and Those Charged with Governance of the GroupA159-A165
Documentation.......................................................A166-A182
Appendix 1: Illustration of Independent Auditor’s Report When the Group Auditor Is Not Able to Obtain Sufficient Appropriate Audit Evidence on Which to Base the Group Audit Opinion – General Purpose Financial Report, Qualified Opinion under the Corporations Act 2001
Appendix 2: Understanding the Group’s System of Internal Control
Appendix 3: Examples of Events or Conditions that May Give Rise to Risks of Material Misstatement of the Group Financial Report
The most recently compiled versions of Auditing Standards, original Standards and amending Standards (see Compilation Details) are available on the AUASB website: www.auasb.gov.au
| Auditing and Assurance Standards BoardPhone: (03) 8080 7400E-mail: enquiries@auasb.gov.auPostal Address:PO Box 204Collins Street WestMelbourne Victoria 8007AUSTRALIA |
|---|
© 2024 Commonwealth of Australia. The text, graphics and layout of this Auditing Standard are protected by Australian copyright law and the comparable law of other countries. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non‑commercial use subject to the inclusion of an acknowledgment of the source as being the Australian Auditing and Assurance Standards Board (AUASB).
Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au. Otherwise, no part of this Auditing Standard may be reproduced, stored or transmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.
This Auditing Standard reproduces substantial parts of the corresponding International Standard on Auditing issued by the International Auditing and Assurance Standards Board (IAASB) and published by the International Federation of Accountants (IFAC), in the manner described in the statement on Conformity with International Standards on Auditing. The AUASB acknowledges that IFAC is the owner of copyright in the International Standard on Auditing incorporated in this Auditing Standard throughout the world.
All existing rights in this material are reserved outside Australia. Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.
Further information and requests for authorisation to reproduce this Auditing Standard for commercial purposes outside Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au. Any decision to approve a request may also require the agreement of IFAC.
ISSN 1833-4393
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Paragraphs
Application......................................................Aus 0.1-Aus 0.2
Operative Date.........................................................Aus 0.3
Introduction
Scope of this Auditing Standard................................................1-11
Effective Date..............................................................12
Objectives.................................................................13
Definitions..............................................................14-15
Requirements
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit............16
Acceptance and Continuance.................................................17-21
Overall Group Audit Strategy and Group Audit Plan................................22-29
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control 30-32
Identifying and Assessing the Risks of Material Misstatement.........................33-34
Materiality..............................................................35-36
Responding to the Assessed Risks of Material Misstatement...........................37-44
Evaluating the Component Auditor’s Communications and the Adequacy of Their Work......45-48
Subsequent Events.........................................................49-50
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained...............51-52
Auditor’s Report.............................................................53
Communication with Group Management and Those Charged with Governance of the Group...54-58
Documentation..............................................................59
Application and Other Explanatory Material
Scope of this ASA.......................................................A1-A18
Definitions............................................................A19-A28
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit.......A29-A31
Acceptance and Continuance...............................................A32-A46
Overall Group Audit Strategy and Group Audit Plan..............................A47-A87
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control A88-A107
Identifying and Assessing the Risks of Material Misstatement.....................A108-A115
Materiality..........................................................A116-A123
Responding to the Assessed Risks of Material Misstatement......................A124-A143
Evaluating the Component Auditor’s Communication and the Adequacy of Their Work..A144-A149
Subsequent Events.........................................................A150
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained..........A151-A156
Auditor’s Report......................................................A157-A158
Communication with Group Management and Those Charged with Governance of the GroupA159-A165
Documentation.......................................................A166-A182
Appendix 1: Illustration of Independent Auditor’s Report When the Group Auditor Is Not Able to Obtain Sufficient Appropriate Audit Evidence on Which to Base the Group Audit Opinion – General Purpose Financial Report, Qualified Opinion under the Corporations Act 2001
Appendix 2: Understanding the Group’s System of Internal Control
Appendix 3: Examples of Events or Conditions that May Give Rise to Risks of Material Misstatement of the Group Financial Report
This compilation takes into account amendments made up to and including 16 December 2024 and was prepared on 31 December 2024 by the Auditing and Assurance Standards Board (AUASB).
This compilation is not a separate Auditing Standard made by the AUASB. Instead, it is a representation of ASA 600 (May 2022) as amended by another Auditing Standard which is listed in the Table below.
| Standard | Date made | Operative Date |
|---|---|---|
| ASA 600 | 13 May 2022 | Financial reporting periods commencing on or after 15 December 2023 |
| ASA 2024-1 | 16 December 2024 | Financial reporting periods commencing on or after 1 January 2025 |
| Standard | Registration Number | Registration Date | Commencement Date |
|---|---|---|---|
| ASA 600 | F2022L00709 | 18 May 2022 | 19 May 2022 |
| ASA 2024-1 | F2024L01716 | 20 December 2024 | 21 December 2024 |
| Paragraph affected | How affected | By … [paragraph] |
|---|---|---|
| Appendix 1 | Amended | ASA 2024-1 [9] |
Auditing Standard ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors) (as amended to 16 December 2024) is set out in paragraphs Aus 0.1 to A182 and Appendices 1 to 3.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
This Auditing Standard conforms with International Standard on Auditing ISA 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
This Auditing Standard incorporates terminology and definitions used in Australia.
The equivalent requirements and related application and other explanatory material included in ISA 600 (Revised) in respect of “relevant ethical requirements”, have been included in Auditing Standard, ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements. There is no international equivalent to ASA 102.
Compliance with this Auditing Standard enables compliance with ISA 600 (Revised).
This compilation takes into account amendments made up to and including 16 December 2024 and was prepared on 31 December 2024 by the Auditing and Assurance Standards Board (AUASB).
This compilation is not a separate Auditing Standard made by the AUASB. Instead, it is a representation of ASA 600 (May 2022) as amended by another Auditing Standard which is listed in the Table below.
| Standard | Date made | Operative Date |
|---|---|---|
| ASA 600 | 13 May 2022 | Financial reporting periods commencing on or after 15 December 2023 |
| ASA 2024-1 | 16 December 2024 | Financial reporting periods commencing on or after 1 January 2025 |
| Standard | Registration Number | Registration Date | Commencement Date |
|---|---|---|---|
| ASA 600 | F2022L00709 | 18 May 2022 | 19 May 2022 |
| ASA 2024-1 | F2024L01716 | 20 December 2024 | 21 December 2024 |
| Paragraph affected | How affected | By … [paragraph] |
|---|---|---|
| Appendix 1 | Amended | ASA 2024-1 [9] |
Auditing Standard ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors) (as amended to 16 December 2024) is set out in paragraphs Aus 0.1 to A182 and Appendices 1 to 3.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
This Auditing Standard conforms with International Standard on Auditing ISA 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
This Auditing Standard incorporates terminology and definitions used in Australia.
The equivalent requirements and related application and other explanatory material included in ISA 600 (Revised) in respect of “relevant ethical requirements”, have been included in Auditing Standard, ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements. There is no international equivalent to ASA 102.
Compliance with this Auditing Standard enables compliance with ISA 600 (Revised).
Auditing Standard ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors) (as amended to 16 December 2024) is set out in paragraphs Aus 0.1 to A182 and Appendices 1 to 3.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
This Auditing Standard conforms with International Standard on Auditing ISA 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
This Auditing Standard incorporates terminology and definitions used in Australia.
The equivalent requirements and related application and other explanatory material included in ISA 600 (Revised) in respect of “relevant ethical requirements”, have been included in Auditing Standard, ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements. There is no international equivalent to ASA 102.
Compliance with this Auditing Standard enables compliance with ISA 600 (Revised).
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
The most recently compiled versions of Auditing Standards, original Standards and amending Standards (see Compilation Details) are available on the AUASB website: www.auasb.gov.au
| Auditing and Assurance Standards BoardPhone: (03) 8080 7400E-mail: enquiries@auasb.gov.auPostal Address:PO Box 204Collins Street WestMelbourne Victoria 8007AUSTRALIA |
|---|
© 2024 Commonwealth of Australia. The text, graphics and layout of this Auditing Standard are protected by Australian copyright law and the comparable law of other countries. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non‑commercial use subject to the inclusion of an acknowledgment of the source as being the Australian Auditing and Assurance Standards Board (AUASB).
Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au. Otherwise, no part of this Auditing Standard may be reproduced, stored or transmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.
This Auditing Standard reproduces substantial parts of the corresponding International Standard on Auditing issued by the International Auditing and Assurance Standards Board (IAASB) and published by the International Federation of Accountants (IFAC), in the manner described in the statement on Conformity with International Standards on Auditing. The AUASB acknowledges that IFAC is the owner of copyright in the International Standard on Auditing incorporated in this Auditing Standard throughout the world.
All existing rights in this material are reserved outside Australia. Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.
Further information and requests for authorisation to reproduce this Auditing Standard for commercial purposes outside Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to . Any decision to approve a request may also require the agreement of IFAC.
ISSN 1833-4393
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Paragraphs
Application......................................................Aus 0.1-Aus 0.2
Operative Date.........................................................Aus 0.3
Introduction
Scope of this Auditing Standard................................................1-11
Effective Date..............................................................12
Objectives.................................................................13
Definitions..............................................................14-15
Requirements
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit............16
Acceptance and Continuance.................................................17-21
Overall Group Audit Strategy and Group Audit Plan................................22-29
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control 30-32
Identifying and Assessing the Risks of Material Misstatement.........................33-34
Materiality..............................................................35-36
Responding to the Assessed Risks of Material Misstatement...........................37-44
Evaluating the Component Auditor’s Communications and the Adequacy of Their Work......45-48
Subsequent Events.........................................................49-50
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained...............51-52
Auditor’s Report.............................................................53
Communication with Group Management and Those Charged with Governance of the Group...54-58
Documentation..............................................................59
Application and Other Explanatory Material
Scope of this ASA.......................................................A1-A18
Definitions............................................................A19-A28
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit.......A29-A31
Acceptance and Continuance...............................................A32-A46
Overall Group Audit Strategy and Group Audit Plan..............................A47-A87
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control A88-A107
Identifying and Assessing the Risks of Material Misstatement.....................A108-A115
Materiality..........................................................A116-A123
Responding to the Assessed Risks of Material Misstatement......................A124-A143
Evaluating the Component Auditor’s Communication and the Adequacy of Their Work..A144-A149
Subsequent Events.........................................................A150
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained..........A151-A156
Auditor’s Report......................................................A157-A158
Communication with Group Management and Those Charged with Governance of the GroupA159-A165
Documentation.......................................................A166-A182
Appendix 1: Illustration of Independent Auditor’s Report When the Group Auditor Is Not Able to Obtain Sufficient Appropriate Audit Evidence on Which to Base the Group Audit Opinion – General Purpose Financial Report, Qualified Opinion under the Corporations Act 2001
Appendix 2: Understanding the Group’s System of Internal Control
Appendix 3: Examples of Events or Conditions that May Give Rise to Risks of Material Misstatement of the Group Financial Report
The most recently compiled versions of Auditing Standards, original Standards and amending Standards (see Compilation Details) are available on the AUASB website: www.auasb.gov.au
| Auditing and Assurance Standards BoardPhone: (03) 8080 7400E-mail: enquiries@auasb.gov.auPostal Address:PO Box 204Collins Street WestMelbourne Victoria 8007AUSTRALIA |
|---|
© 2024 Commonwealth of Australia. The text, graphics and layout of this Auditing Standard are protected by Australian copyright law and the comparable law of other countries. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non‑commercial use subject to the inclusion of an acknowledgment of the source as being the Australian Auditing and Assurance Standards Board (AUASB).
Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au. Otherwise, no part of this Auditing Standard may be reproduced, stored or transmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.
This Auditing Standard reproduces substantial parts of the corresponding International Standard on Auditing issued by the International Auditing and Assurance Standards Board (IAASB) and published by the International Federation of Accountants (IFAC), in the manner described in the statement on Conformity with International Standards on Auditing. The AUASB acknowledges that IFAC is the owner of copyright in the International Standard on Auditing incorporated in this Auditing Standard throughout the world.
All existing rights in this material are reserved outside Australia. Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.
Further information and requests for authorisation to reproduce this Auditing Standard for commercial purposes outside Australia should be addressed to the Technical Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au. Any decision to approve a request may also require the agreement of IFAC.
ISSN 1833-4393
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Paragraphs
Application......................................................Aus 0.1-Aus 0.2
Operative Date.........................................................Aus 0.3
Introduction
Scope of this Auditing Standard................................................1-11
Effective Date..............................................................12
Objectives.................................................................13
Definitions..............................................................14-15
Requirements
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit............16
Acceptance and Continuance.................................................17-21
Overall Group Audit Strategy and Group Audit Plan................................22-29
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control 30-32
Identifying and Assessing the Risks of Material Misstatement.........................33-34
Materiality..............................................................35-36
Responding to the Assessed Risks of Material Misstatement...........................37-44
Evaluating the Component Auditor’s Communications and the Adequacy of Their Work......45-48
Subsequent Events.........................................................49-50
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained...............51-52
Auditor’s Report.............................................................53
Communication with Group Management and Those Charged with Governance of the Group...54-58
Documentation..............................................................59
Application and Other Explanatory Material
Scope of this ASA.......................................................A1-A18
Definitions............................................................A19-A28
Leadership Responsibilities for Managing and Achieving Quality on a Group Audit.......A29-A31
Acceptance and Continuance...............................................A32-A46
Overall Group Audit Strategy and Group Audit Plan..............................A47-A87
Understanding the Group and Its Environment, the Applicable Financial Reporting Framework and the Group’s System of Internal Control A88-A107
Identifying and Assessing the Risks of Material Misstatement.....................A108-A115
Materiality..........................................................A116-A123
Responding to the Assessed Risks of Material Misstatement......................A124-A143
Evaluating the Component Auditor’s Communication and the Adequacy of Their Work..A144-A149
Subsequent Events.........................................................A150
Evaluating the Sufficiency and Appropriateness of Audit Evidence Obtained..........A151-A156
Auditor’s Report......................................................A157-A158
Communication with Group Management and Those Charged with Governance of the GroupA159-A165
Documentation.......................................................A166-A182
Appendix 1: Illustration of Independent Auditor’s Report When the Group Auditor Is Not Able to Obtain Sufficient Appropriate Audit Evidence on Which to Base the Group Audit Opinion – General Purpose Financial Report, Qualified Opinion under the Corporations Act 2001
Appendix 2: Understanding the Group’s System of Internal Control
Appendix 3: Examples of Events or Conditions that May Give Rise to Risks of Material Misstatement of the Group Financial Report
This compilation takes into account amendments made up to and including 16 December 2024 and was prepared on 31 December 2024 by the Auditing and Assurance Standards Board (AUASB).
This compilation is not a separate Auditing Standard made by the AUASB. Instead, it is a representation of ASA 600 (May 2022) as amended by another Auditing Standard which is listed in the Table below.
| Standard | Date made | Operative Date |
|---|---|---|
| ASA 600 | 13 May 2022 | Financial reporting periods commencing on or after 15 December 2023 |
| ASA 2024-1 | 16 December 2024 | Financial reporting periods commencing on or after 1 January 2025 |
| Standard | Registration Number | Registration Date | Commencement Date |
|---|---|---|---|
| ASA 600 | F2022L00709 | 18 May 2022 | 19 May 2022 |
| ASA 2024-1 | F2024L01716 | 20 December 2024 | 21 December 2024 |
| Paragraph affected | How affected | By … [paragraph] |
|---|---|---|
| Appendix 1 | Amended | ASA 2024-1 [9] |
Auditing Standard ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors) (as amended to 16 December 2024) is set out in paragraphs Aus 0.1 to A182 and Appendices 1 to 3.
This Auditing Standard is to be read in conjunction with ASA 101 Preamble to AUASB Standards, which sets out how AUASB Standards are to be understood, interpreted and applied. This Auditing Standard is to be read also in conjunction with ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
This Auditing Standard conforms with International Standard on Auditing ISA 600 (Revised) Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
Paragraphs that have been added to this Auditing Standard (and do not appear in the text of the equivalent ISA) are identified with the prefix “Aus”.
This Auditing Standard incorporates terminology and definitions used in Australia.
The equivalent requirements and related application and other explanatory material included in ISA 600 (Revised) in respect of “relevant ethical requirements”, have been included in Auditing Standard, ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements. There is no international equiva
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