Auditing, Review and Other Standards (formerly known as AAS)

Standards on Quality Control (SQCs)

• SQC 1, “Quality Control for Firms that Perform Audit and Reviews of Historical Financial Information, and other Assurance and Related Services Engagements”
• Announcement on Amendment to SQC 1 - Retention Period for Engagement Documentation (Working Papers)

Audits and Reviews of Historical Financial Information

New/Revised Standards (Auditing, Review and Others) issued under the Clarity Project

• 100-199 Introductory Matters
• 200-299 General Principles and Responsibilities
  • SA 200 (Revised) issued under the Clarity Project, “Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing”
  • SA 210 (Revised) under the Clarity Project, “Agreeing the Terms of Audit Engagements”
  • SA 220 (Revised)issued under the Clarity Project , “Quality Control for an Audit of Financial Statements”
  • SA 230 (Revised) under the Clarity Project, “Audit Documentation”
  • SA 240 (Revised) under the Clarity Project, “The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements”
  • SA 250 (Revised) under the Clarity Project, “Consideration of Laws and Regulations in an Audit of Financial Statements”
  • SA 260 (Revised) under the Clarity Project, “Communication with Those Charged with Governance”
  • SA 265 issued under the Clarity Project, “Communicating Deficiencies in Internal Control to Those Charged With Governance and Management”
  • SA 299 (AAS 12), “Responsibility of Joint Auditors”
• 300-499 Risk Assessment and Response to Assessed Risks
  • SA 300 (Revised) under the Clarity Project, “Planning an Audit of Financial Statements” •
  • SA 315 under the Clarity Project, “Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment”
  • SA 320 (Revised) issued under the Clarity Project, “Materiality in Planning and Performing an Audit”
  • SA 330 under the Clarity Project, “The Auditor’s Responses to Assessed Risks”
  • SA 402 (Revised) issued under the Clarity Project, “Audit Considerations Relating to an Entity Using a Service Organisation”
  • SA 450 issued under the Clarity Project, “Evaluation of Misstatements Identified During the Audit”
• 500-599 Audit Evidence
  • SA 500 (Revised) under the Clarity Project, “Audit Evidence”
  • SA 501 (Revised)issued under the Clarity Project, “Audit Evidence—Specific Considerations for Selected Items”
  • SA 505 (Revised) issued under the Clarity Project, “External Confirmations”
  • SA 510 (Revised) under the Clarity Project, “Initial Audit Engagements – Opening Balances”
  • SA 520 (Revised) issued under the Clarity Project, “Analytical Procedures”
  • SA 530 (Revised) under the Clarity Project, “Audit Sampling”
  • SA 540 (Revised) under the Clarity Project, “Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures”
  • SA 550 (Revised) under the Clarity Project, “Related Parties”
  • SA 560 (Revised) under the Clarity Project, “Subsequent Events”
  • SA 570 (Revised) under the Clarity Project, “Going Concern”
  • SA 580 (Revised) under the Clarity Project, ”Written Representations”
• 600-699 Using Work of Others
  • SA 600 (AAS 10), “Using the Work of Another Auditor”
  • SA 610 (Revised) issued under the Clarity Project, “Using The Work of Internal Auditors”
  • SA 620 (Revised) issued under the Clarity Project, “Using the Work of an Auditor’s Expert”
• 700-799 Audit Conclusions and Reporting
  • SA 700 (Revised) issued under the Clarity Project, “Forming an Opinion and Reporting on Financial Statements
  • SA 705 issued under the Clarity Project, “Modifications to the Opinion in the Independent Auditor’s Report"
  • SA 706 issued under the Clarity Project, “Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report"
  • SA 710 (Revised) issued under the Clarity Project, “Comparative Information—Corresponding Figures and Comparative Financial Statements”
  • SA 720 under the Clarity Project, “The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements”
• 800-899 Specialized Areas
  • SA 800 issued under the Clarity Project, “Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks”
  • SA 805 issued under the Clarity Project, “Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement”
  • SA 810 issued under the Clarity Project, “Engagements to Report on Summary Financial Statements”
• 2000-2699 Standards on Review Engagements (SREs)
  • SRE 2400 (Revised), “Engagements to Review Financial Statements
  • SRE 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”

Assurance Engagements Other Than Audits or Reviews of Historical Financial Information

• 3000-3699 Standards on Assurance Engagements (SAEs)
• 3000-3399 Applicable to All Assurance Engagements
• 3400-3699 Subject Specific Standards
  • SAE 3400 (AAS 35), “The Examination of Prospective Financial Information”

Related Services

• 4000-4699 Standards on Related Services (SRSs)
  • SRS 4400 (AAS 32), “Engagements to Perform Agreed-upon Procedures Regarding Financial Information”
  • SRS 4410 (AAS 31), “Engagements to Compile Financial Information”

General Clarifications issued

• General Clarification (GC)-AASB/2/2004 on SA 210
• General Clarification (GC)-AASB/1/2002 on SA 620