Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024)
In ForceCTH
Jurisdiction
Commonwealth
Collection
legislative instrument
Plain English Summary
5/10 complexity
This Auditing Standard requires auditors, assurance practitioners, engagement quality reviewers and firms to comply with applicable ethical requirements, including independence, when performing audits, reviews and other assurance engagements. It applies to audits and reviews under the Corporations Act and to other assurance engagements, and points practitioners to APES 110 and related AUASB standards; the duty to comply falls on firms and individuals and will affect engagement acceptance, documentation and conflict‑of‑interest handling.
This compiled Auditing Standard, ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024, as amended to 9 July 2025), sets a single binding, cross-referential command: auditors, assurance practitioners, engagement quality reviewers and firms shall comply with relevant ethical requirements, including independence, when performing audits, reviews and other assurance engagements (see paragraph 6). The compilation incorporates the original ASA 102 (made 16 December 2024; operative for financial reporting periods commencing on or after 1 January 2025) and two amending AUASB Standards made 9 July 2025 (AUASB 2025-5 and AUASB 2025-7). The compilation notes it is not a separate standard but a representation of ASA 102 as amended (Compilation Details, Authority Statement).
Mechanically, ASA 102 does three things:
It prescribes the scope of application (paragraph 1(a)-(e)): audits and reviews of financial reports (including those under the Corporations Act 2001), audits or reviews of other financial information, other assurance engagements (explicitly excluding sustainability assurance engagements), and firms required to comply with ASQM 1.
It mandates compliance with “relevant ethical requirements” (paragraph 6), which in Australia explicitly includes APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (paragraph 5(d)), the Corporations Act 2001 provisions where applicable, and other law or regulation.
It requires practitioners and firms to have regard to APES 110’s fundamental principles and conceptual framework when determining whether compliance has been achieved (Application and explanatory material, paras A1-A6).
The compilation further places ASA 102 within the AUASB framework: it is to be read with ASA 101 (Preamble) and ASA 200 (Overall Objectives of the Independent Auditor) (Authority Statement). The standard states it was made pursuant to statutory powers in the Australian Securities and Investments Commission Act 2001 (s 227B) and the Corporations Act 2001 (s 336) (Auditing Standard ASA 102 section), which locates its regulatory provenance.
Current sections
Direct links to the current provisions in Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024).
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Obtaining a Copy of this Auditing Standa
Obtaining a Copy of this Auditing Standard
Obtaining a Copy of this Auditing Standard
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
Contact Details
Contact Details
Contact Details
Auditing and Assurance Standards BoardPhone: (03) 8080 7400E-mail: enquiries@auasb.gov.auPostal Address:PO Box 204Collins Street WestMelbourne Victoria 8007AUSTRALIA
Requests and enquiries concerning reproduction and rights for commercial purposes should be addressed to the Director-National, 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.
ISSN 1833-4393
CONTENTS
CONTENTS
CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Application and Other Explanatory Material...................................A1-A6
COMPILATION DETAILS
COMPILATION DETAILS
Obtaining a Copy of this Auditing Standard
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
Contact Details
Auditing and Assurance Standards BoardPhone: (03) 8080 7400E-mail: enquiries@auasb.gov.auPostal Address:PO Box 204Collins Street WestMelbourne Victoria 8007AUSTRALIA
Requests and enquiries concerning reproduction and rights for commercial purposes should be addressed to the Director-National, 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.
ISSN 1833-4393
CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Application and Other Explanatory Material...................................A1-A6
COMPILATION DETAILS
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (as Amended)
This compilation takes into account amendments made up to and including 9 July 2025 and was prepared on 18 July 2025 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 102 (December 2024) as amended by another Auditing Standard which is listed in the Table below.
Table of Standards
Standard
Date made
Operative Date
ASA 102
16 December 2024
financial reporting periods commencing on or after 1 January 2025
AUASB 2025-5
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
AUASB 2025-7
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
Legislation History
Standard
Registration Number
Registration Date
Commencement Date
ASA 102
F2024L01719
20 December 2024
21 December 2024
AUASB 2025-5
F2025L00852
17 July 2025
18 July 2025
AUASB 2025-7
F2025L00853
17 July 2025
18 July 2025
Table of Amendments
Paragraph affected
How affected
By … [paragraph]
2
Amended
AUASB 2025-5 [6]
5(d)
Amended
AUASB 2025-5 [7]
5(d)
Amended
AUASB 2025-7 [14]
AUTHORITY STATEMENT
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024) (as amended to 9 July 2025) is set out in paragraphs 1 to A6.
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.
Conformity with International Standards on Auditing
This Auditing Standard has been made for Australian legislative purposes and accordingly there is no equivalent International Standard on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
However, the requirement and application and other explanatory material in this Auditing Standard have been drawn from ISQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ISQM 2 Engagement Quality Reviews, ISA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing and ISA 220 Quality Management for an Audit of Financial Statements, issued by the IAASB, as listed in the following table:
Compliance with this Auditing Standard, together with other Australian Auditing Standards, enables compliance with the ISAs and ISQMs.
Auditing Standard ASA 102 Compliance wit
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (as Amended)
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (as Amended)
This compilation takes into account amendments made up to and including 9 July 2025 and was prepared on 18 July 2025 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 102 (December 2024) as amended by another Auditing Standard which is listed in the Table below.
Table of Standards
Table of Standards
Table of Standards
Standard
Date made
Operative Date
ASA 102
16 December 2024
financial reporting periods commencing on or after 1 January 2025
AUASB 2025-5
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
AUASB 2025-7
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
Legislation History
Legislation History
Legislation History
Standard
Registration Number
Registration Date
Commencement Date
ASA 102
F2024L01719
20 December 2024
21 December 2024
AUASB 2025-5
F2025L00852
17 July 2025
18 July 2025
AUASB 2025-7
F2025L00853
17 July 2025
18 July 2025
Table of Amendments
Table of Amendments
Table of Amendments
Paragraph affected
How affected
By … [paragraph]
2
Amended
AUASB 2025-5 [6]
5(d)
Amended
AUASB 2025-5 [7]
5(d)
Amended
AUASB 2025-7 [14]
AUTHORITY STATEMENT
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024) (as amended to 9 July 2025) is set out in paragraphs 1 to A6.
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.
Conformity with International Standards on Auditing
This Auditing Standard has been made for Australian legislative purposes and accordingly there is no equivalent International Standard on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
However, the requirement and application and other explanatory material in this Auditing Standard have been drawn from ISQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ISQM 2 Engagement Quality Reviews, ISA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing and ISA 220 Quality Management for an Audit of Financial Statements, issued by the IAASB, as listed in the following table:
Compliance with this Auditing Standard, together with other Australian Auditing Standards, enables compliance with the ISAs and ISQMs.
AUTHORITY STATEMENT
AUTHORITY STATEMENT
AUTHORITY STATEMENT
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024) (as amended to 9 July 2025) is set out in paragraphs 1 to A6.
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.
Conformity with International Standards
Conformity with International Standards on Auditing
Conformity with International Standards on Auditing
This Auditing Standard has been made for Australian legislative purposes and accordingly there is no equivalent International Standard on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
However, the requirement and application and other explanatory material in this Auditing Standard have been drawn from ISQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ISQM 2 Engagement Quality Reviews, ISA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing and ISA 220 Quality Management for an Audit of Financial Statements, issued by the IAASB, as listed in the following table:
Compliance with this Auditing Standard, together with other Australian Auditing Standards, enables compliance with the ISAs and ISQMs.
Auditing Standard ASA 102
Auditing Standard ASA 102
Auditing Standard ASA 102
The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 16 December 2024.
This compiled version of ASA 102 incorporates subsequent amendments contained in another Auditing Standard made by the AUASB up to and including 9 July 2025 (see Compilation Details).
Auditing Standard ASA 102
Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements
Application
This Auditing Standard applies to:
an audit of a financial report for a financial year, or an audit or review of a financial report for a half-year, in accordance with the Corporations Act 2001;
an audit or review of a financial report, or a complete set of financial statements, for any other purpose;
an audit or review of other financial information;
other assurance engagements excluding sustainability assurance engagements; and
a firm required to comply with 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.
Operative Date
This Auditing Standard is operative for financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]
Introduction
Scope of this Auditing Standard
This Auditing Standard includes a requirement for auditors, assurance practitioners, engagement quality reviewers and firms to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Objective
The objective of the auditor, assurance practitioner, engagement quality reviewer and firm is to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Definitions
For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
Assurance practitioner means assurance practitioner as defined in ASQM 1.
Auditor means auditor as defined in ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Engagement quality reviewer means engagement quality reviewer as defined in ASQM 1.
Relevant ethical requirements means ethical requirements that apply to the auditor, assurance practitioner, engagement quality reviewer and firm. In Australia, these include the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the Accounting Professional & Ethical Standards Board Limited (APESB) (November 2018 incorporating all amendments to July 2025) (APES 110), the applicable provisions of the Corporations Act 2001 and other applicable law or regulation.
Requirements
Compliance with Relevant Ethical Requirements (Ref: Para. A1-A6)
The auditor, assurance practitioner, engagement quality reviewer and firm shall comply with relevant ethical requirements, including those pertaining to independence, when performing audits, reviews and other assurance engagements.
* * *
Application and Other Explanatory Material
Compliance with Relevant Ethical Requirements (Ref: Para. 6)
The auditor, assurance practitioner, engagement quality reviewer and firm are to have regard to the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the APESB, which are to be taken into account in determining whether relevant ethical requirements referred to in paragraph 6 of this Auditing Standard have been met. In relation to audits and reviews undertaken in accordance with the Corporations Act 2001, the provisions of Division 3 Part 2M.4 of the Act may also apply.
APES 110 establishes the fundamental principles of ethics which are:
Integrity;
Objectivity;
Professional competence and due care;
Confidentiality; and
Professional behaviour.
The fundamental principles of ethics establish the standard of behaviour expected of the auditor, assurance practitioner, engagement quality reviewer, and firm, when performing audits, reviews and other assurance engagements.
APES 110 provides a conceptual framework that establishes the approach which the auditor, assurance practitioner, engagement quality reviewer and firm are required to apply when identifying, evaluating and addressing threats to compliance with the fundamental principles.
In the case of audits, reviews and other assurance engagements, APES 110 sets out Independence Standards, established by the application of the conceptual framework to threats to independence in relation to those engagements.
APES 110 describes independence as comprising both independence of mind and independence in appearance. Independence safeguards the ability to form an assurance conclusion without being affected by influences that might compromise that conclusion. Independence enhances the ability to act with integrity, to be objective and to maintain an attitude of professional scepticism.
The definition of terms in APES 110 may differ from the definitions of those terms in AUASB Standards. In complying with the requirements of this Auditing Standard, the definitions used in APES 110 apply in so far as is necessary to interpret the ethical requirements of AUASB Standards.
Compliance with Ethical Requirements whe
Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements
Auditing Standard ASA 102
The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 16 December 2024.
This compiled version of ASA 102 incorporates subsequent amendments contained in another Auditing Standard made by the AUASB up to and including 9 July 2025 (see Compilation Details).
Auditing Standard ASA 102
Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements
Application
This Auditing Standard applies to:
an audit of a financial report for a financial year, or an audit or review of a financial report for a half-year, in accordance with the Corporations Act 2001;
an audit or review of a financial report, or a complete set of financial statements, for any other purpose;
an audit or review of other financial information;
other assurance engagements excluding sustainability assurance engagements; and
a firm required to comply with 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.
Operative Date
This Auditing Standard is operative for financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]
Introduction
Scope of this Auditing Standard
This Auditing Standard includes a requirement for auditors, assurance practitioners, engagement quality reviewers and firms to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Objective
The objective of the auditor, assurance practitioner, engagement quality reviewer and firm is to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Definitions
For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
Assurance practitioner means assurance practitioner as defined in ASQM 1.
Auditor means auditor as defined in ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Engagement quality reviewer means engagement quality reviewer as defined in ASQM 1.
Relevant ethical requirements means ethical requirements that apply to the auditor, assurance practitioner, engagement quality reviewer and firm. In Australia, these include the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the Accounting Professional & Ethical Standards Board Limited (APESB) (November 2018 incorporating all amendments to July 2025) (APES 110), the applicable provisions of the Corporations Act 2001 and other applicable law or regulation.
Requirements
Compliance with Relevant Ethical Requirements (Ref: Para. A1-A6)
The auditor, assurance practitioner, engagement quality reviewer and firm shall comply with relevant ethical requirements, including those pertaining to independence, when performing audits, reviews and other assurance engagements.
* * *
Application and Other Explanatory Material
Compliance with Relevant Ethical Requirements (Ref: Para. 6)
The auditor, assurance practitioner, engagement quality reviewer and firm are to have regard to the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the APESB, which are to be taken into account in determining whether relevant ethical requirements referred to in paragraph 6 of this Auditing Standard have been met. In relation to audits and reviews undertaken in accordance with the Corporations Act 2001, the provisions of Division 3 Part 2M.4 of the Act may also apply.
APES 110 establishes the fundamental principles of ethics which are:
Integrity;
Objectivity;
Professional competence and due care;
Confidentiality; and
Professional behaviour.
The fundamental principles of ethics establish the standard of behaviour expected of the auditor, assurance practitioner, engagement quality reviewer, and firm, when performing audits, reviews and other assurance engagements.
APES 110 provides a conceptual framework that establishes the approach which the auditor, assurance practitioner, engagement quality reviewer and firm are required to apply when identifying, evaluating and addressing threats to compliance with the fundamental principles.
In the case of audits, reviews and other assurance engagements, APES 110 sets out Independence Standards, established by the application of the conceptual framework to threats to independence in relation to those engagements.
APES 110 describes independence as comprising both independence of mind and independence in appearance. Independence safeguards the ability to form an assurance conclusion without being affected by influences that might compromise that conclusion. Independence enhances the ability to act with integrity, to be objective and to maintain an attitude of professional scepticism.
The definition of terms in APES 110 may differ from the definitions of those terms in AUASB Standards. In complying with the requirements of this Auditing Standard, the definitions used in APES 110 apply in so far as is necessary to interpret the ethical requirements of AUASB Standards.
Application
Application
Application
This Auditing Standard applies to:
an audit of a financial report for a financial year, or an audit or review of a financial report for a half-year, in accordance with the Corporations Act 2001;
an audit or review of a financial report, or a complete set of financial statements, for any other purpose;
an audit or review of other financial information;
other assurance engagements excluding sustainability assurance engagements; and
a firm required to comply with 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.
Operative Date
Operative Date
Operative Date
This Auditing Standard is operative for financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]
Introduction
Introduction
Auditing Standard ASA 102
The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 16 December 2024.
This compiled version of ASA 102 incorporates subsequent amendments contained in another Auditing Standard made by the AUASB up to and including 9 July 2025 (see Compilation Details).
Auditing Standard ASA 102
Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements
Application
This Auditing Standard applies to:
an audit of a financial report for a financial year, or an audit or review of a financial report for a half-year, in accordance with the Corporations Act 2001;
an audit or review of a financial report, or a complete set of financial statements, for any other purpose;
an audit or review of other financial information;
other assurance engagements excluding sustainability assurance engagements; and
a firm required to comply with 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.
Operative Date
This Auditing Standard is operative for financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]
Introduction
Scope of this Auditing Standard
This Auditing Standard includes a requirement for auditors, assurance practitioners, engagement quality reviewers and firms to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Objective
The objective of the auditor, assurance practitioner, engagement quality reviewer and firm is to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Definitions
For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
Assurance practitioner means assurance practitioner as defined in ASQM 1.
Auditor means auditor as defined in ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Engagement quality reviewer means engagement quality reviewer as defined in ASQM 1.
Relevant ethical requirements means ethical requirements that apply to the auditor, assurance practitioner, engagement quality reviewer and firm. In Australia, these include the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the Accounting Professional & Ethical Standards Board Limited (APESB) (November 2018 incorporating all amendments to July 2025) (APES 110), the applicable provisions of the Corporations Act 2001 and other applicable law or regulation.
Requirements
Compliance with Relevant Ethical Requirements (Ref: Para. A1-A6)
The auditor, assurance practitioner, engagement quality reviewer and firm shall comply with relevant ethical requirements, including those pertaining to independence, when performing audits, reviews and other assurance engagements.
* * *
Application and Other Explanatory Material
Compliance with Relevant Ethical Requirements (Ref: Para. 6)
The auditor, assurance practitioner, engagement quality reviewer and firm are to have regard to the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the APESB, which are to be taken into account in determining whether relevant ethical requirements referred to in paragraph 6 of this Auditing Standard have been met. In relation to audits and reviews undertaken in accordance with the Corporations Act 2001, the provisions of Division 3 Part 2M.4 of the Act may also apply.
APES 110 establishes the fundamental principles of ethics which are:
Integrity;
Objectivity;
Professional competence and due care;
Confidentiality; and
Professional behaviour.
The fundamental principles of ethics establish the standard of behaviour expected of the auditor, assurance practitioner, engagement quality reviewer, and firm, when performing audits, reviews and other assurance engagements.
APES 110 provides a conceptual framework that establishes the approach which the auditor, assurance practitioner, engagement quality reviewer and firm are required to apply when identifying, evaluating and addressing threats to compliance with the fundamental principles.
In the case of audits, reviews and other assurance engagements, APES 110 sets out Independence Standards, established by the application of the conceptual framework to threats to independence in relation to those engagements.
APES 110 describes independence as comprising both independence of mind and independence in appearance. Independence safeguards the ability to form an assurance conclusion without being affected by influences that might compromise that conclusion. Independence enhances the ability to act with integrity, to be objective and to maintain an attitude of professional scepticism.
The definition of terms in APES 110 may differ from the definitions of those terms in AUASB Standards. In complying with the requirements of this Auditing Standard, the definitions used in APES 110 apply in so far as is necessary to interpret the ethical requirements of AUASB Standards.
Scope of this Auditing Standard
Scope of this Auditing Standard
Scope of this Auditing Standard
This Auditing Standard includes a requirement for auditors, assurance practitioners, engagement quality reviewers and firms to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Objective
Objective
Objective
The objective of the auditor, assurance practitioner, engagement quality reviewer and firm is to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Definitions
Definitions
Definitions
For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
Assurance practitioner means assurance practitioner as defined in ASQM 1.
Auditor means auditor as defined in ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Engagement quality reviewer means engagement quality reviewer as defined in ASQM 1.
Relevant ethical requirements means ethical requirements that apply to the auditor, assurance practitioner, engagement quality reviewer and firm. In Australia, these include the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the Accounting Professional & Ethical Standards Board Limited (APESB) (November 2018 incorporating all amendments to July 2025) (APES 110), the applicable provisions of the Corporations Act 2001 and other applicable law or regulation.
Requirements
Requirements
Auditing Standard ASA 102
The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 16 December 2024.
This compiled version of ASA 102 incorporates subsequent amendments contained in another Auditing Standard made by the AUASB up to and including 9 July 2025 (see Compilation Details).
Auditing Standard ASA 102
Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements
Application
This Auditing Standard applies to:
an audit of a financial report for a financial year, or an audit or review of a financial report for a half-year, in accordance with the Corporations Act 2001;
an audit or review of a financial report, or a complete set of financial statements, for any other purpose;
an audit or review of other financial information;
other assurance engagements excluding sustainability assurance engagements; and
a firm required to comply with 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.
Operative Date
This Auditing Standard is operative for financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]
Introduction
Scope of this Auditing Standard
This Auditing Standard includes a requirement for auditors, assurance practitioners, engagement quality reviewers and firms to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Objective
The objective of the auditor, assurance practitioner, engagement quality reviewer and firm is to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Definitions
For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
Assurance practitioner means assurance practitioner as defined in ASQM 1.
Auditor means auditor as defined in ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Engagement quality reviewer means engagement quality reviewer as defined in ASQM 1.
Relevant ethical requirements means ethical requirements that apply to the auditor, assurance practitioner, engagement quality reviewer and firm. In Australia, these include the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the Accounting Professional & Ethical Standards Board Limited (APESB) (November 2018 incorporating all amendments to July 2025) (APES 110), the applicable provisions of the Corporations Act 2001 and other applicable law or regulation.
Requirements
Compliance with Relevant Ethical Requirements (Ref: Para. A1-A6)
The auditor, assurance practitioner, engagement quality reviewer and firm shall comply with relevant ethical requirements, including those pertaining to independence, when performing audits, reviews and other assurance engagements.
* * *
Application and Other Explanatory Material
Compliance with Relevant Ethical Requirements (Ref: Para. 6)
The auditor, assurance practitioner, engagement quality reviewer and firm are to have regard to the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the APESB, which are to be taken into account in determining whether relevant ethical requirements referred to in paragraph 6 of this Auditing Standard have been met. In relation to audits and reviews undertaken in accordance with the Corporations Act 2001, the provisions of Division 3 Part 2M.4 of the Act may also apply.
APES 110 establishes the fundamental principles of ethics which are:
Integrity;
Objectivity;
Professional competence and due care;
Confidentiality; and
Professional behaviour.
The fundamental principles of ethics establish the standard of behaviour expected of the auditor, assurance practitioner, engagement quality reviewer, and firm, when performing audits, reviews and other assurance engagements.
APES 110 provides a conceptual framework that establishes the approach which the auditor, assurance practitioner, engagement quality reviewer and firm are required to apply when identifying, evaluating and addressing threats to compliance with the fundamental principles.
In the case of audits, reviews and other assurance engagements, APES 110 sets out Independence Standards, established by the application of the conceptual framework to threats to independence in relation to those engagements.
APES 110 describes independence as comprising both independence of mind and independence in appearance. Independence safeguards the ability to form an assurance conclusion without being affected by influences that might compromise that conclusion. Independence enhances the ability to act with integrity, to be objective and to maintain an attitude of professional scepticism.
The definition of terms in APES 110 may differ from the definitions of those terms in AUASB Standards. In complying with the requirements of this Auditing Standard, the definitions used in APES 110 apply in so far as is necessary to interpret the ethical requirements of AUASB Standards.
Compliance with Relevant Ethical Require
Compliance with Relevant Ethical Requirements (Ref: Para. A1-A6)
Compliance with Relevant Ethical Requirements (Ref: Para. A1-A6)
The auditor, assurance practitioner, engagement quality reviewer and firm shall comply with relevant ethical requirements, including those pertaining to independence, when performing audits, reviews and other assurance engagements.
* * *
Application and Other Explanatory Materi
Application and Other Explanatory Material
Auditing Standard ASA 102
The Auditing and Assurance Standards Board (AUASB) made Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001, on 16 December 2024.
This compiled version of ASA 102 incorporates subsequent amendments contained in another Auditing Standard made by the AUASB up to and including 9 July 2025 (see Compilation Details).
Auditing Standard ASA 102
Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements
Application
This Auditing Standard applies to:
an audit of a financial report for a financial year, or an audit or review of a financial report for a half-year, in accordance with the Corporations Act 2001;
an audit or review of a financial report, or a complete set of financial statements, for any other purpose;
an audit or review of other financial information;
other assurance engagements excluding sustainability assurance engagements; and
a firm required to comply with 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.
Operative Date
This Auditing Standard is operative for financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply. [Note: For operative dates of paragraphs changed or added by an Amending Standard, see Compilation Details.]
Introduction
Scope of this Auditing Standard
This Auditing Standard includes a requirement for auditors, assurance practitioners, engagement quality reviewers and firms to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Objective
The objective of the auditor, assurance practitioner, engagement quality reviewer and firm is to comply with relevant ethical requirements, including those pertaining to independence, relating to audits, reviews and other assurance engagements.
Definitions
For the purposes of this Auditing Standard, the following terms have the meanings attributed below:
Assurance practitioner means assurance practitioner as defined in ASQM 1.
Auditor means auditor as defined in ASA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards.
Engagement quality reviewer means engagement quality reviewer as defined in ASQM 1.
Relevant ethical requirements means ethical requirements that apply to the auditor, assurance practitioner, engagement quality reviewer and firm. In Australia, these include the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the Accounting Professional & Ethical Standards Board Limited (APESB) (November 2018 incorporating all amendments to July 2025) (APES 110), the applicable provisions of the Corporations Act 2001 and other applicable law or regulation.
Requirements
Compliance with Relevant Ethical Requirements (Ref: Para. A1-A6)
The auditor, assurance practitioner, engagement quality reviewer and firm shall comply with relevant ethical requirements, including those pertaining to independence, when performing audits, reviews and other assurance engagements.
* * *
Application and Other Explanatory Material
Compliance with Relevant Ethical Requirements (Ref: Para. 6)
The auditor, assurance practitioner, engagement quality reviewer and firm are to have regard to the applicable requirements of APES 110 Code of Ethics for Professional Accountants (including Independence Standards), issued by the APESB, which are to be taken into account in determining whether relevant ethical requirements referred to in paragraph 6 of this Auditing Standard have been met. In relation to audits and reviews undertaken in accordance with the Corporations Act 2001, the provisions of Division 3 Part 2M.4 of the Act may also apply.
APES 110 establishes the fundamental principles of ethics which are:
Integrity;
Objectivity;
Professional competence and due care;
Confidentiality; and
Professional behaviour.
The fundamental principles of ethics establish the standard of behaviour expected of the auditor, assurance practitioner, engagement quality reviewer, and firm, when performing audits, reviews and other assurance engagements.
APES 110 provides a conceptual framework that establishes the approach which the auditor, assurance practitioner, engagement quality reviewer and firm are required to apply when identifying, evaluating and addressing threats to compliance with the fundamental principles.
In the case of audits, reviews and other assurance engagements, APES 110 sets out Independence Standards, established by the application of the conceptual framework to threats to independence in relation to those engagements.
APES 110 describes independence as comprising both independence of mind and independence in appearance. Independence safeguards the ability to form an assurance conclusion without being affected by influences that might compromise that conclusion. Independence enhances the ability to act with integrity, to be objective and to maintain an attitude of professional scepticism.
The definition of terms in APES 110 may differ from the definitions of those terms in AUASB Standards. In complying with the requirements of this Auditing Standard, the definitions used in APES 110 apply in so far as is necessary to interpret the ethical requirements of AUASB Standards.
Source text: opening excerpt
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
Obtaining a Copy of this Auditing Standa Obtaining a Copy of this Auditing Standard
Obtaining a Copy of this Auditing Standard
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
Contact Details Contact Details
Contact Details
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ISSN 1833-4393
CONTENTS CONTENTS
CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Application and Other Explanatory Material...................................A1-A6
The standard claims alignment with selected international instruments , ISQM 1, ISQM 2, ISA 200 and ISA 220 , and identifies which paragraphs draw from which international paragraphs (Conformity table). That claim is made expressly as a drafting source rather than as a new substantive obligation; the operative obligation remains compliance with Australian “relevant ethical requirements”, interpreted with reference to APES 110 and other applicable law.
In short, ASA 102 converts existing ethical materials (APES 110, Corporations Act provisions, AUASB Standards such as ASQM 1 and ASA 200) into a single Australian Auditing Standard obligation: when performing covered engagements, the named persons and entities must comply with the relevant ethical requirements and, in doing so, apply APES 110’s conceptual framework and independence standards (paras 6 and A1-A6). The operative date is financial reporting periods commencing on or after 1 January 2025, subject to transitional provisions in APES 110 (Operative Date, para 2).
Main concepts
ASA 102 organises a handful of tightly defined concepts that determine the standard’s reach and the substantive compliance task.
Relevant ethical requirements (paragraph 5(d) and paragraph 6)
Defined as the ethical requirements that apply to the auditor, assurance practitioner, engagement quality reviewer and firm. The standard explicitly lists APES 110 (November 2018 incorporating amendments to July 2025), applicable Corporations Act provisions and other applicable law or regulation as the Australian sources to be applied (paragraph 5(d)). Paragraph 6 implements the single requirement to comply with these relevant ethical requirements when performing the covered engagements.
Independence (Application and Explanatory Material, paras A2-A3)
APES 110’s independence standards are to be taken into account; APES 110 distinguishes independence of mind and independence in appearance and treats independence as necessary to safeguard the ability to form an assurance conclusion without being affected by compromising influences (A2-A3). ASA 102 does not restate APES 110’s specifics but makes its application mandatory for the covered engagements.
Fundamental principles and conceptual framework (Application and Explanatory Material, paras A1, A4)
APES 110 sets out five fundamental principles: integrity, objectivity, professional competence and due care, confidentiality and professional behaviour (A2). It provides a conceptual framework for identifying, evaluating and addressing threats to those principles (A4-A5). ASA 102 requires practitioners and firms to have regard to APES 110 in determining whether compliance has been met (A1).
Scope boundaries (Application, paragraph 1)
ASA 102 applies to audits of financial reports under the Corporations Act, audits and reviews for other purposes, audits or reviews of other financial information, other assurance engagements (excluding sustainability assurance engagements), and to firms required to comply with ASQM 1 (paragraph 1). The exclusion of sustainability assurance engagements is explicit; practitioners engaged for sustainability assurance must look elsewhere.
Interplay with quality management standards (Application and Authority Statement)
ASA 102 cross-references 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) and AS A200 (Overall Objectives). Firms required to comply with ASQM 1 fall within the standard’s remit (paragraph 1(e)) and the standard’s explanatory material draws on ISQM1 and ISA220 for its framing (Conformity table).
Compilation and amendment mechanics (Compilation Details)
The document is a compilation incorporating AUASB amendments up to 9 July 2025 and explicitly lists AUASB 2025-5 and AUASB 2025-7 as amending standards with operative information. The compilation warns that it is not a separate Auditing Standard but a representation of ASA 102 as amended.
International standard relationships (Conformity with International Standards)
ASA 102 identifies its material derivation from ISQM 1, ISQM 2, ISA 200 and ISA 220 and maps specific paragraphs to international paragraphs (e.g., paragraph 6 draws from ISA 200 para 14, ISQM 1 para 29 and ISQM 2 paras 2, 18-20). The statement is presented as a drafting and conformity note, indicating that compliance with ASA 102 together with other AUASB standards enables compliance with the ISAs and ISQMs.
Operative timing and transitional exceptions (Operative Date)
The operative date is for reporting periods commencing on or after 1 January 2025, but the standard explicitly preserves later effective dates and transitional provisions in APES 110 where those apply (Operative Date, para 2).
In sum, the main concepts in ASA 102 create a horizontal rule: covered audit and assurance activities must meet the ethical standards identified as “relevant” in paragraph 5(d), with APES 110 serving as the primary interpretive and substantive source for ethical principles and independence standards. The standard is tightly cross-referential to AUASB quality management standards and to certain Corporations Act provisions.
Who it affects
ASA 102 names several classes of persons and entities and, through cross-reference, expands the practical audience.
Directly named persons and entities (paragraph 6; Definitions, paragraph 5)
The auditor, assurance practitioner, engagement quality reviewer and firm are the persons and entities explicitly required to comply. The standard adopts the definitions of “assurance practitioner” and “engagement quality reviewer” from ASQM 1, and “auditor” from ASA 200 (Definitions para 5(a)-(c)). Practitioners performing covered engagements therefore face a direct obligation under ASA 102 to comply with relevant ethical requirements.
Firms required to comply with ASQM 1 (Application para 1(e))
ASA 102 applies to firms required to comply with ASQM 1. Where a firm falls within the scope of ASQM 1, ASA 102’s ethical compliance obligation applies to that firm and its practitioners. The effect is that regulated audit firms and other firms performing relevant assurance engagements (as delineated in ASQM 1) are captured.
Engagements under the Corporations Act and related stakeholders (Application para 1(a), Authority Statement)
ASA 102 applies to audits of financial reports for financial years and half-year audits/reviews undertaken under the Corporations Act 2001. Therefore, corporate entities preparing financial reports that require audit or review under the Corporations Act will find their auditors bound by ASA 102. The Authority Statement notes ASA 102 was made under s 227B of the ASIC Act and s 336 of the Corporations Act, locating its legal provenance within the corporations regulatory architecture.
APES 110 and professional accountants (Application and explanatory material, paras A1-A6)
Because ASA 102 requires regard to APES 110 and explicitly lists APES 110 as part of the relevant ethical requirements (paragraph 5(d)), professional accountants who are members of bodies governed by APES 110 or who are subject to APES 110 by operation of their practice obligations will be affected. APES 110 is issued by the Accounting Professional & Ethical Standards Board Limited (APESB) (A1).
Suppliers of non-assurance services and business counterparties: practical peripheral effect
ASA 102 does not directly regulate third parties, but the substantive requirement to apply APES 110’s independence framework (paras A2-A3) will require auditors and firms to assess business relationships, financial interests, and services provided by or to third parties. That assessment can affect which non-assurance services a firm provides to an audit client or what financial interests can be held, thereby having indirect, measurable effects on those third parties.
Excluded groups (Application para 1(d))
Sustainability assurance engagements are expressly excluded from the scope. Firms and practitioners performing sustainability assurance need not apply ASA 102 to those engagements, though they may be subject to other AUASB or APESB standards.
Regulatory and enforcement actors
The standard was made under statutory powers in the ASIC Act and Corporations Act (Auditing Standard ASA 102 section), so regulatory actors (ASIC and other enforcement bodies operating under the Corporations Act) will be relevant to the practical enforcement environment. The standard also directs practitioners to APES 110, which is a professional code issued by the APESB; enforcement of APES 110 sits in the professional-regulatory and possible disciplinary domain, although ASA 102 itself does not set out penalties.
Who pays and who decides
Who pays: compliance costs will fall mainly on firms and practitioners required to implement the ethical and independence frameworks (par 6; A1-A6). Who decides: firms and practitioners must apply the APES 110 conceptual framework and make judgments about identification, evaluation and response to threats to compliance with the fundamental principles (A4-A5). For audits under the Corporations Act, statutory provisions may impose additional requirements and actors (Division 3 Part 2M.4 of the Corporations Act is noted as possibly applying, Application and explanatory material para 1).
In practical terms, any audit or assurance task covered in paragraph 1 will require the responsible audit firm and its personnel to apply APES 110 alongside AUASB quality management standards. The combination produces obligations for management of conflicts, documenting independence assessments, and operationalising quality management systems for affected firms.
Key duties and rights
The standard frames duties rather than rights. The operative duty is straightforward and singular: compliance with relevant ethical requirements.
Primary duty to comply (Requirements, paragraph 6)
Duty: The auditor, assurance practitioner, engagement quality reviewer and firm shall comply with relevant ethical requirements, including those pertaining to independence, when performing audits, reviews and other assurance engagements (paragraph 6). This is the central, operative duty.
Duty to have regard to APES 110 and apply its framework (Application and explanatory material, paras A1-A6)
Duty in practice: ASA 102 requires practitioners and firms to “have regard to the applicable requirements of APES 110” when determining whether the relevant ethical requirements have been met (Application and explanatory material, para 1 under that heading). APES 110’s conceptual framework must be applied to identify, evaluate and address threats to the five fundamental principles (integrity, objectivity, professional competence and due care, confidentiality, professional behaviour) (A2-A5). The standard therefore requires firms to operationalise APES 110’s threat-and-safeguards approach for each covered engagement.
Duty to consider statutory provisions for Corporations Act audits (Application and explanatory material, para 1)
Duty in specific contexts: For audits and reviews undertaken in accordance with the Corporations Act 2001, the explanatory material notes that Division 3 Part 2M.4 of the Act may also apply. ASA 102 therefore requires practitioners to consider and apply any additional statutory independence provisions required under the Corporations Act where relevant.
Duty to interpret terms using APES 110 definitions when necessary (Application and explanatory material, para 4)
Duty of interpretation: Where terms in APES 110 differ from those in AUASB standards, ASA 102 directs that definitions used in APES 110 apply “in so far as is necessary to interpret the ethical requirements of AUASB Standards” (A6). That gives APES 110 primacy for interpretive questions pertinent to the ethical obligation.
Cross-referenced duties from other AUASB standards (Authority Statement)
Duty to read in conjunction: ASA 102 is to be read alongside ASA 101 and ASA 200 (Authority Statement). Those standards contain duties of conduct and quality management for audits. Compliance with ASA 102 therefore entails ensuring that ethical duties are integrated with the overall objective and conduct obligations in ASA 200 and the interpretive guidance in ASA 101.
Rights and entitlements: the standard does not create affirmative private rights
ASA 102 does not create standalone statutory private rights or entitlements for third parties in the text provided. It establishes obligations on practitioners and firms. Any rights pertaining to enforcement, remedy or sanction will arise from other instruments (for example, the Corporations Act or APES 110 enforcement mechanisms), which ASA 102 references but does not itself detail (see Authority Statement and Application and explanatory material).
Decision-making and documentation obligations implied by cross-references
While ASA 102 itself contains a concise requirement, its reliance on APES 110 and ASQM 1 implies duties of judgement, documentation and processes typical of applying a conceptual framework: identify threats to fundamental principles, evaluate their significance, apply safeguards, and document the conclusions. ASA 102's explanatory material highlights these steps as the APES 110 approach that practitioners must take into account (A4-A5). The precise form and extent of documentation and the nature of safeguards are not specified in ASA 102; instead these are to be derived from APES 110 and ASQM 1.
Who decides within the firm
The standard places the decision-making burden on the named subjects: the auditor, assurance practitioner, engagement quality reviewer and the firm. Those actors must apply APES 110 and ASQM 1 to reach judgments about threats to the fundamental principles and appropriate responses (paragraphs 5 and A1-A6). AUASB expects firms to integrate these ethical judgments into their quality management systems per ASQM 1.
In short, ASA 102 creates a duty-focused mandate: practitioners and firms must comply with relevant ethical requirements, and must use APES 110’s conceptual framework and independence standards as the primary interpretive and operational source for that compliance. The standard does not itself create private rights, and its substantive obligations are implemented through APES 110 and ASQM 1 as the practical sources of procedure and discipline.
Penalties and enforcement
ASA 102 itself does not set out civil or criminal penalties, nor does it provide a standalone enforcement regime in its text. Its legal force and regulatory consequences arise because it was made under statutory powers and because it cross-references other enforceable instruments.
Statutory basis and regulatory context (Auditing Standard ASA 102 section)
The standard was made by the AUASB pursuant to s 227B of the Australian Securities and Investments Commission Act 2001 and s 336 of the Corporations Act 2001 (Auditing Standard ASA 102 section). That placement under statutory powers locates ASA 102 within the broader corporations and financial services regulatory architecture and indicates the standard’s status as an AUASB standard for Australian legislative purposes (Authority Statement).
No penalties stated in the standard
The text of ASA 102 (paras 1-A6) contains no express sanctions, fines, or penalties or explicit enforcement procedures. It imposes a duty to comply with ethical requirements and to have regard to APES 110; it does not itself prescribe disciplinary mechanisms.
Enforcement through other instruments referenced
ASA 102 requires compliance with APES 110 and notes that, for audits and reviews under the Corporations Act, Division 3 Part 2M.4 of the Act may also apply (Application and explanatory material, para 1). APES 110 is issued by the Accounting Professional & Ethical Standards Board Limited (APESB); enforcement of APES 110 typically occurs through professional regulation, membership conditions, or disciplinary arrangements of relevant professional bodies (ASA 102 refers to APES 110 as a source). The Corporations Act provisions, where applicable, carry their own statutory enforcement mechanisms (not stated in ASA 102). Because ASA 102 was made under the ASIC Act and Corporations Act, contraventions of the Corporations Act provisions that ASA 102 points to can give rise to statutory enforcement action by ASIC or other enforcement avenues under the Corporations Act.
Regulatory actors who may enforce or use the standard
ASIC and other regulators operating under the Corporations Act are the likely statutory enforcement actors, given the AUASB’s statutory grounding (Auditing Standard ASA 102 section). Professional bodies and APESB are the relevant actors for enforcement of APES 110 obligations, because APES 110 is a professional code (Application and explanatory material para A1). ASA 102 itself does not specify how AUASB will use compliance or non-compliance in enforcement proceedings.
Practical enforcement mechanics and evidentiary role
In practice, ASA 102 creates a normative standard auditors are expected to follow. Evidence that an auditor did not comply with ASA 102 could be adduced by reference to failure to apply APES 110 or ASQM 1, or failure to consider Corporations Act independence provisions where relevant. The standard’s explanatory material points auditors and firms toward APES 110 and ASQM 1, which specify processes and safeguards; regulators or disciplinary bodies can evaluate whether those procedures were followed. ASA 102’s statement that compliance “enables compliance with the ISAs and ISQMs” is framed as conformity guidance (Conformity table), not as a legal enforcement mechanism.
Limits of ASA 102’s enforcement authorisation
ASA 102 does not itself extend regulatory powers or penalties to the AUASB. Its statutory backing means it is an authoritative AUASB standard for practitioners, but sanctions for non-compliance will flow through the Corporations Act or professional disciplinary processes rather than from ASA 102’s text.
In summary, ASA 102 imposes a binding duty to comply with identified ethical rules but does not set out penalties. Enforcement and sanctions will be matters for the Corporations Act framework, ASIC and professional disciplinary bodies, and for the APES 110 framework to the extent it is enforced by professional regulation. ASA 102 connects practitioners to those enforceable regimes by reference and by statutory provenance but does not itself specify penalty mechanisms.
How it interacts with other laws
ASA 102 operates as an AUASB standard that expressly cross-references, depends on and defers to several other instruments. Its practical effect is to integrate APES 110 and ASQM 1 into the AUASB suite for covered engagements, and to anchor obligations within the Corporations Act context where relevant.
Interaction with APES 110 (Application and explanatory material, paras A1-A6; Definitions para 5(d))
ASA 102 identifies APES 110 as a core source of the “relevant ethical requirements” for Australia (paragraph 5(d)). The standard directs auditors and firms to have regard to APES 110 in determining whether the ethical requirements have been met and to apply APES 110’s conceptual framework for threats to the fundamental principles (A1-A6). Where definitions differ between APES 110 and AUASB standards, ASA 102 directs the use of APES 110 definitions “in so far as is necessary to interpret the ethical requirements of AUASB Standards” (A6). That gives APES 110 interpretive primacy for ethical questions under ASA 102.
Interaction with ASQM 1 (Application para 1(e) and Compilation Details)
ASA 102 applies to firms required to comply with ASQM 1. By cross-referencing quality management obligations, ASA 102 embeds the ethical compliance task within a firm-level quality management system. ASQM 1 prescribes firm-level policies and procedures; ASA 102 therefore expects ethical compliance to be operationalised via quality management systems where required.
Interaction with ASA 200 and ASA 101 (Authority Statement)
ASA 102 is to be read with ASA 101 (Preamble) and ASA 200 (Overall Objectives). ASA 200 contains overall auditor objectives and requirements for the conduct of an audit. ASA 102’s ethical duties must be integrated with the auditor objectives and responsibilities set out in these other ASA standards, so conflict or overlap must be resolved through combined application.
Interaction with Corporations Act provisions (Application and explanatory material; Auditing Standard ASA 102 section)
ASA 102 was made under s 227B of the ASIC Act and s 336 of the Corporations Act. The explanatory material also notes that Division 3 Part 2M.4 of the Corporations Act “may also apply” for audits and reviews under the Act. ASA 102 therefore functions within the legal architecture of the Corporations Act, which contains statutory auditor independence requirements and other obligations. ASA 102 does not replace statutory obligations but requires practitioners to consider them in addition to APES 110.
Interaction with International Standards (Conformity with International Standards)
ASA 102 expressly states that its requirement and explanatory material have been drawn from ISQM 1, ISQM 2, ISA 200 and ISA 220 and maps its paragraphs to specific international paragraphs. It also asserts that compliance with ASA 102 together with other Australian Auditing Standards will enable compliance with ISAs and ISQMs. This is an interaction of alignment and translation: ASA 102 uses international materials as its source logic but establishes compliance obligations under Australian instruments (APES 110, ASQM 1, ASA 200, Corporations Act).
Practical interactions and precedence
Where instruments differ, ASA 102 gives procedural precedence in interpreting ethical requirements to APES 110 definitions “in so far as is necessary” (A6). ASA 102 itself is not a vehicle to alter statutory obligations under the Corporations Act; rather, it requires practitioners to have regard to those statutory obligations where relevant. The compilation also notes that operative dates and transitional provisions of APES 110 apply where those specify a later effective date (Operative Date para 2).
Gaps and cross-jurisdictional considerations
ASA 102 is focused on Australian legislative purposes and explicitly acknowledges there is no equivalent ISA for ASA 102. It thus functions as the Australian mechanism for imposing ethical duties for the covered engagements, aligned with,but distinct from,IAASB instruments. This approach requires practitioners who operate across jurisdictions to apply the Australian set of instruments for Australian engagements and to be alert to differences between APES 110 and international codes where cross-border work is involved.
In short, ASA 102 is an integrating standard: it does not reinvent ethical rules but imports APES 110, ASQM 1 and relevant Corporations Act provisions into the AUASB suite for covered assurance engagements. Compliance therefore requires operators to navigate these instruments concurrently, applying APES 110 definitions and conceptual tools as the primary interpretive source for ethical obligations arising under AUASB standards.
Amendment history
The compilation provides a clear, short amendment record up to 9 July 2025. The document differentiates the original ASA 102 from subsequent amending AUASB standards and lists specific paragraphs affected by amendments.
Compilation and preparation (Compilation Details)
This compiled version was prepared on 18 July 2025 by the AUASB and takes into account amendments made up to and including 9 July 2025. The compilation emphasises it is not a separate Auditing Standard but a representation of ASA 102 (Compilation Details).
Table of Standards (Compilation Details)
Original ASA 102 was made 16 December 2024 and operative for financial reporting periods commencing on or after 1 January 2025.
Amending standards AUASB 2025-5 and AUASB 2025-7 were both made 9 July 2025 and are indicated to be operative for financial reporting periods commencing on or after 1 January 2025, with a caveat that any later effective dates and transitional provisions in APES 110 apply (Table of Standards).
Legislation History (Compilation Details)
The compilation contains a Legislation History table with registration numbers and dates:
ASA 102: Registration Number F2024L01719, Registration Date 20 December 2024, Commencement Date 21 December 2024.
AUASB 2025-5: Registration Number F2025L00852, Registration Date 17 July 2025, Commencement Date 18 July 2025.
AUASB 2025-7: Registration Number F2025L00853, Registration Date 17 July 2025, Commencement Date 18 July 2025.
Table of Amendments (Compilation Details)
The compilation includes a Table of Amendments that specifies paragraph-level amendments:
Paragraph 2: amended by AUASB 2025-5 [6].
Paragraph 5(d): amended by AUASB 2025-5 [7] and AUASB 2025-7 [14].
Nature of amendments
The compilation does not reproduce the text of each amending standard in full, but it records affected paragraphs and the amending instruments. The changes appear limited in scope: operative date (paragraph 2) and definition content (paragraph 5(d)), as indicated in the Table of Amendments. The compilation also notes that operative dates and transitional provisions in APES 110 can affect the operative application of certain paragraphs.
Effective dates and transitional provisions
The compilation consistently reiterates that the standard’s operative date is for reporting periods commencing on or after 1 January 2025, but preserves, by explicit reference, any later effective dates and transitional provisions in APES 110. That means certain paragraphs or requirements may be subject to phased implementation to match APES 110 transitional arrangements.
Status and currency
The compiled version is current to 9 July 2025 and was prepared on 18 July 2025. Users should consult the AUASB website for the most recently compiled versions and for any further amendments beyond the compilation date (Compilation Details: Obtaining a copy).
Interpretive implication for practitioners and counsel
The amendment history is narrow and focused on alignment with APES 110 dates and definitions. Practitioners should track the amending standards AUASB 2025-5 and AUASB 2025-7 for the precise textual amendments, particularly where paragraph 5(d) definition content is modified, because that paragraph defines the key phrase “relevant ethical requirements” (Definitions para 5(d)). The compilation’s table points to which amending instrument and paragraph altered the standard, allowing counsel to retrieve the amending standards for detailed review.
In sum, ASA 102’s amendment record through 9 July 2025 is limited and transparent: the standard was created in December 2024 and amended in July 2025 to adjust operative timing and the definition of relevant ethical requirements, with the compilation consolidating those updates.
Litigation history
The compiled text of ASA 102 contains no litigation history. No cases are cited, and the compilation does not summarise judicial or tribunal decisions applying ASA 102 or its predecessors. The document’s “Conformity with International Standards” table cites international standard paragraphs as source material but does not reference any case law.
What the compilation provides instead
The compilation documents the standard’s statutory provenance (made under s 227B of the ASIC Act and s 336 of the Corporations Act) and its amendment record through AUASB amending standards (Compilation Details, Legislation History, Table of Amendments).
It provides authoritative cross-references to APES 110, ASQM 1, ASA 200 and ISA/ISQM materials as drafting sources and interpretive aids (Conformity table and Application and explanatory material).
Implications of the absence of litigation history
The lack of litigation material in the standard is not surprising: AUASB standards are regulatory and professional instruments; litigation applying or interpreting such standards typically occurs in the context of broader litigation under the Corporations Act, professional negligence, disciplinary proceedings, or regulatory enforcement actions. ASA 102 does not itself report such outcomes.
Practitioners and advisors seeking litigation guidance will need to search judicial and tribunal databases, regulatory enforcement records (ASIC decisions), and professional disciplinary outcomes for disputes concerning application of APES 110, ASQM 1 or AUASB standards generally. ASA 102’s text signals which other instruments to check: APES 110 for professional ethics decisions and the Corporations Act for statutory enforcement actions.
How to use ASA 102 in litigation or regulatory contexts
ASA 102 may be used as part of an evidentiary package to show what ethical duties an auditor was expected to apply in a given reporting period (the operative date is relevant). Because ASA 102 directs practitioners to APES 110, a regulatory or court inquiry into an auditor’s conduct will typically examine whether APES 110’s conceptual framework and independence standards were applied and whether the firm’s quality management arrangements under ASQM 1 integrated those ethical obligations.
Where statutory Corporations Act provisions apply (Division 3 Part 2M.4 is cited), litigation or enforcement might rely more directly on those statutory rules; ASA 102 would be an auxiliary standard showing the AUASB expectation of compliance with corresponding ethical requirements.
Conclusion on litigation history
There is no litigation history recorded in the provided compilation. Users interested in precedential or enforcement outcomes must look beyond ASA 102 itself to regulatory/disciplinary records and civil judgments that apply APES 110, ASQM 1, ASA 200 and Corporations Act provisions in circumstances involving auditor conduct.
Gotchas
ASA 102 is concise, but several practical pitfalls and friction points arise from its cross-referential design and narrow textual approach. These are the concrete issues to watch for when advising firms or designing compliance processes.
Operative date versus transitional provisions
ASA 102 is operative for financial reporting periods commencing on or after 1 January 2025 (Operative Date para 2). However, it expressly preserves any later effective dates and transitional provisions in APES 110 (Operative Date para 2; Compilation Details note). That means certain obligations may not apply uniformly to all firms or engagements depending on APES 110’s transitional rules. Failure to map APES 110’s transitional dates to ASA 102’s operative date can cause compliance timing errors.
“Relevant ethical requirements” defined by reference
The standard defines “relevant ethical requirements” by reference to APES 110, the Corporations Act and other law (Definitions para 5(d)). If an auditor simply cites ASA 102 without applying APES 110’s detail, they have not complied: ASA 102 depends on APES 110 for the substantive content. Practitioners who treat ASA 102 as a standalone checklist risk non-compliance because the granular rules and the threat-and-safeguard framework are in APES 110.
APES 110 definitions may differ from AUASB definitions
ASA 102 instructs that where APES 110 definitions differ from AUASB standards, the APES 110 definitions apply “in so far as is necessary to interpret the ethical requirements of AUASB Standards” (Application and explanatory material para 4). That can create interpretive complexity: a term used in AUASB standards might have slightly different content in APES 110, and practitioners must follow APES 110 for ethical interpretation. Failure to reconcile definitions may generate inconsistent application of independence rules.
Exclusion of sustainability assurance engagements
ASA 102 explicitly excludes sustainability assurance engagements from its scope (Application para 1(d)). Firms that perform both financial and sustainability assurance must not assume ASA 102’s requirements automatically apply to sustainability engagements; they must check the relevant AUASB standard for sustainability assurance.
Minimal procedural detail in ASA 102 itself
ASA 102 contains a single operative requirement and relies on APES 110 and ASQM 1 for procedural detail. That design can be a gotcha for clients who expect ASA 102 to spell out required documentation, specific safeguards or the precise threshold for significance of threats. Instead, practitioners must go to APES 110 and ASQM 1 to determine the procedural steps and documentation standards.
Overlap with statutory provisions
For audits and reviews under the Corporations Act, Division 3 Part 2M.4 “may also apply” (Application and explanatory material para 1). Those statutory provisions may impose additional or different requirements. If a firm applies only APES 110 without checking the Corporations Act provisions, it may miss statutory duties. ASA 102 does not catalogue those statutory rules; due diligence is required.
Who bears decision-making risk internally
The standard places the obligation on the auditor, assurance practitioner, engagement quality reviewer and firm. That requires firms to allocate decision-making responsibility and possibly to set escalation procedures for independence threats. Firms without clear internal governance for ethical judgements risk inconsistent application and exposure if challenged.
Assumed conformity with international standards is a claim, not a safe harbour
ASA 102 states that compliance with it together with other AUASB standards “enables compliance” with ISAs and ISQMs (Conformity table). That is a drafting statement, not a legal equivalence guarantee. Firms operating cross-border must confirm that compliance with Australian instruments fully addresses any additional or different international expectations in specific jurisdictions.
Amendments targeted at definitions and operative dates
The Table of Amendments shows changes to paragraph 2 and to paragraph 5(d). Because paragraph 5(d) defines “relevant ethical requirements”, small wording changes there can have outsized interpretive consequences. Advisors must review the amending standards AUASB 2025-5 and AUASB 2025-7 to see the exact modifications.
Professional disciplinary enforcement resides outside ASA 102
APES 110 is a professional code issued by APESB; enforcement is typically through professional or membership disciplinary processes. ASA 102’s reliance on APES 110 means practitioners must navigate a potentially different enforcement regime than statutory enforcement. Firms should not assume statutory procedures apply to breaches of the APES 110 provisions referenced by ASA 102.
Documentation expectations are not spelled out here
ASA 102 directs application of APES 110 and ASQM 1, both of which have expectations about documentation and processes. ASA 102 itself, however, does not list required documentation. Firms must ensure that their documentation practice aligns with APES 110 and ASQM 1 rather than with ASA 102 alone.
In short, the principal gotchas are timing and transitional traps, the necessity of applying external instruments (APES 110, ASQM 1, Corporations Act) rather than treating ASA 102 as comprehensive, and the interpretive complexity that comes from cross-referencing definitions and multiple standards. Practical compliance requires careful mapping of ASA 102 to APES 110, ASQM 1 and any applicable statutory provisions for each engagement.
How to comply
ASA 102 sets a compact obligation but points to external, substantive instruments for operational detail. The compliance steps below are drawn from ASA 102’s operative requirement (paragraph 6) and its explanatory cross-references (A1-A6), together with the standard’s application and operative date provisions. This is a practical checklist-style synthesis grounded in the standard.
Confirm applicability and operative timing
Determine whether the engagement is captured by ASA 102: audits of financial reports under the Corporations Act, audits/reviews for other purposes, audits/reviews of other financial information, or other assurance engagements excluding sustainability assurance engagements (Application, paras 1(a)-(d)). Confirm whether the firm is required to comply with ASQM 1 (Application para 1(e)).
Confirm the operative period: ASA 102 applies for financial reporting periods commencing on or after 1 January 2025, except where APES 110 specifies a later effective date or transitional arrangements (Operative Date para 2). Map APES 110 transitional provisions to each engagement’s reporting period.
Adopt APES 110 as the primary ethical interpretive source
Apply APES 110’s five fundamental principles (integrity, objectivity, professional competence and due care, confidentiality, professional behaviour) when performing the engagement (Application and explanatory material para A2).
Use APES 110’s conceptual framework to identify, evaluate and address threats to compliance with the fundamental principles (A4-A5). For each identified threat, document its nature, significance and the safeguards applied.
Operationalise independence (both mind and appearance)
Treat independence as comprising independence of mind and independence in appearance, per APES 110 (A3). For each audit or review engagement, conduct an independence assessment considering relationships, financial interests, non-assurance services, family or employment relationships, or threats arising from client business arrangements.
Document decisions where independence safeguards are applied or where reliance on safeguards is rejected and another course is taken.
Integrate ethical compliance into the firm’s quality management system (ASQM 1)
For firms required to comply with ASQM 1, implement policies and procedures that embed APES 110’s ethics and independence obligations into the firm’s ASQM 1 processes. ASA 102 applies to firms required to comply with ASQM 1 (Application para 1(e)), so ethical compliance should be operationalised through firm-level quality management policies, the assignment of responsibilities, and monitoring.
Ensure personnel training, escalation routes, and oversight for ethical judgements are documented in the quality management system.
For Corporations Act audits, check statutory independence rules (Division 3 Part 2M.4)
When performing audits or reviews under the Corporations Act, verify whether Division 3 Part 2M.4 or other statutory provisions impose additional independence obligations (Application and explanatory material para 1). Apply and document compliance with any statutory requirements in addition to APES 110.
Reconcile definitions and apply APES 110 definitions where necessary
Where APES 110 and AUASB definitions differ, use APES 110 definitions “in so far as is necessary” to interpret ethical requirements (Application and explanatory material para 4). Keep a short cross-reference register noting where a term’s APES 110 definition was adopted for a specific decision.
Document the threat assessment and decision process
ASA 102’s substantive direction is brief, but APES 110 requires a threat-and-safeguards approach. For each engagement, produce a documented record that identifies threats, evaluates significance, records safeguards applied or rejected, and the rationale for concluding whether the ethical requirements have been met. Tie this documentation to the engagement file and to firm-level quality management records.
Monitor amendments and operative dates
Because ASA 102’s operative effect can be affected by APES 110 transitional provisions and because the compilation records amending standards AUASB 2025-5 and AUASB 2025-7, maintain an update process to capture new AUASB and APESB amendments. Use AUASB’s website for the most recent compilations (Compilation Details: Obtaining a copy).
Apply professional scepticism and escalation
ASA 102 cross-references ASA 200 and ASA 101 (Authority Statement). Ensure ethical judgements are made in the context of ASA 200’s requirements for professional scepticism and auditor responsibilities. Escalate significant independence threats to engagement quality reviewers or firm governance bodies as required by ASQM 1.
Training and resourcing
Allocate resources for training staff in APES 110’s conceptual framework, in the firm’s ASQM 1 procedures for ethical compliance, and in any statutory independence particulars relevant to Corporations Act engagements. Maintain records of training and competency in the firm’s quality management documentation.
Consider third-party and non-assurance services
Although ASA 102 does not list prohibited non-assurance services, application of APES 110’s independence framework will require evaluation of business relationships and provision of other services. Before entering or continuing such relationships or services, perform the APES 110 threat assessment and document the results.
Prepare for inspection and regulatory review
Because ASA 102 is made under statutory powers and points to APES 110 and ASQM 1, maintain records that can demonstrate compliance during regulatory or professional inspections. This includes engagement-specific independence assessments and firm-level quality management evidence.
In practical terms, compliance with ASA 102 means: identify whether ASA 102 applies; apply APES 110 for ethics and independence judgments; embed those judgments in ASQM 1 quality management for covered firms; check and apply relevant Corporations Act provisions; and document the threat analysis and decisions. ASA 102’s brief operative text makes APES 110 and ASQM 1 the substantive playbook; the firm’s compliance programme should therefore centre on bringing those instruments into day-to-day engagement practice and documentation.
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
Contact Details
Auditing and Assurance Standards BoardPhone: (03) 8080 7400E-mail: enquiries@auasb.gov.auPostal Address:PO Box 204Collins Street WestMelbourne Victoria 8007AUSTRALIA
Requests and enquiries concerning reproduction and rights for commercial purposes should be addressed to the Director-National, 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.
ISSN 1833-4393
CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Application and Other Explanatory Material...................................A1-A6
COMPILATION DETAILS
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (as Amended)
This compilation takes into account amendments made up to and including 9 July 2025 and was prepared on 18 July 2025 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 102 (December 2024) as amended by another Auditing Standard which is listed in the Table below.
Table of Standards
Standard
Date made
Operative Date
ASA 102
16 December 2024
financial reporting periods commencing on or after 1 January 2025
AUASB 2025-5
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
AUASB 2025-7
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
Legislation History
Standard
Registration Number
Registration Date
Commencement Date
ASA 102
F2024L01719
20 December 2024
21 December 2024
AUASB 2025-5
F2025L00852
17 July 2025
18 July 2025
AUASB 2025-7
F2025L00853
17 July 2025
18 July 2025
Table of Amendments
Paragraph affected
How affected
By … [paragraph]
2
Amended
AUASB 2025-5 [6]
5(d)
Amended
AUASB 2025-5 [7]
5(d)
Amended
AUASB 2025-7 [14]
AUTHORITY STATEMENT
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024) (as amended to 9 July 2025) is set out in paragraphs 1 to A6.
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.
Conformity with International Standards on Auditing
This Auditing Standard has been made for Australian legislative purposes and accordingly there is no equivalent International Standard on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
However, the requirement and application and other explanatory material in this Auditing Standard have been drawn from ISQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ISQM 2 Engagement Quality Reviews, ISA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing and ISA 220 Quality Management for an Audit of Financial Statements, issued by the IAASB, as listed in the following table:
Compliance with this Auditing Standard, together with other Australian Auditing Standards, enables compliance with the ISAs and ISQMs.
Auditing Standard ASA 102 Compliance wit Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (as Amended)
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (as Amended)
This compilation takes into account amendments made up to and including 9 July 2025 and was prepared on 18 July 2025 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 102 (December 2024) as amended by another Auditing Standard which is listed in the Table below.
Table of Standards Table of Standards
Table of Standards
Standard
Date made
Operative Date
ASA 102
16 December 2024
financial reporting periods commencing on or after 1 January 2025
AUASB 2025-5
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
AUASB 2025-7
9 July 2025
financial reporting periods commencing on or after 1 January 2025, except that any later effective dates and any transitional provisions in APES 110 (as defined in paragraph 5(d) of this Standard) apply
Legislation History Legislation History
Legislation History
Standard
Registration Number
Registration Date
Commencement Date
ASA 102
F2024L01719
20 December 2024
21 December 2024
AUASB 2025-5
F2025L00852
17 July 2025
18 July 2025
AUASB 2025-7
F2025L00853
17 July 2025
18 July 2025
Table of Amendments Table of Amendments
Table of Amendments
Paragraph affected
How affected
By … [paragraph]
2
Amended
AUASB 2025-5 [6]
5(d)
Amended
AUASB 2025-5 [7]
5(d)
Amended
AUASB 2025-7 [14]
AUTHORITY STATEMENT
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024) (as amended to 9 July 2025) is set out in paragraphs 1 to A6.
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.
Conformity with International Standards on Auditing
This Auditing Standard has been made for Australian legislative purposes and accordingly there is no equivalent International Standard on Auditing (ISA) issued by the International Auditing and Assurance Standards Board (IAASB), an independent standard‑setting board of the International Federation of Accountants (IFAC).
However, the requirement and application and other explanatory material in this Auditing Standard have been drawn from ISQM 1 Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements, ISQM 2 Engagement Quality Reviews, ISA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with International Standards on Auditing and ISA 220 Quality Management for an Audit of Financial Statements, issued by the IAASB, as listed in the following table:
Compliance with this Auditing Standard, together with other Australian Auditing Standards, enables compliance with the ISAs and ISQMs.
AUTHORITY STATEMENT AUTHORITY STATEMENT
AUTHORITY STATEMENT
Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (December 2024) (as amended to 9 July 2025) is set out in paragraphs 1 to A6.
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.
Conformity with International Standards Conformity with International Standards on Auditing
Conformity with International Standards on Auditing
This Auditing Standard has been made for Australian legislative purposes and
This is an opening excerpt, not the complete document.