Comply with Australian Auditing Standards (ASA)
Auditors must conduct audits per ASA — Aus equivalent of ISA, with Aus additions.
Who must comply
Registered Company Auditors conducting audits.
What triggers it
Conducting a Corporations Act audit.
When due
Per audit engagement.
Evidence required
Audit working papers; engagement letter; independence assessment; quality control evidence.
Max penalty
RCA registration consequences; civil + criminal under s 1289
Summary
AUASB Australian Auditing Standards (ASA) apply to audits of Australian financial reports. Aligned to International Standards on Auditing (ISA) with Australian additions. Failure to comply attracts ASIC compliance action against RCAs.
Enforced by
Source legislation
Industries
Topics
Related obligations
Frequently asked questions
- Who must comply with Australian Auditing Standards (ASA)?
- Registered Company Auditors conducting audits.
- What triggers Australian Auditing Standards (ASA)?
- Conducting a Corporations Act audit.
- When is Australian Auditing Standards (ASA) due?
- Per audit engagement.
- What is the maximum penalty for Australian Auditing Standards (ASA)?
- RCA registration consequences; civil + criminal under s 1289
- What evidence is required for Australian Auditing Standards (ASA)?
- Audit working papers; engagement letter; independence assessment; quality control evidence.
Source: https://auasb.gov.au. Rules Mate is not a law firm. Always verify against the live regulator source before acting.