Australian Auditing Standards_留学生作业_ukassignment,英国作业|留学生作业网

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Schedule of Professional pronouncements of

Australian Audit standards 2008

Summary relates to the applicable rules as at 01/01/2008
This summary is a road map or aid memoir. It will help students to locate the relevant standards but since the summary is 29 pages long and the standards are 1652 pages reading the summary is obviously not a substitute for actually reading the appropriate standards once identified.
At your discretion you may prefer to simply refer to the summary on screen rather than printing it out
All standards are important, however for the purposes of this course read those indicated in bold type at least twice and , where the title is also underlined, study it.

Standards typically start with “Main features of the standard” and/or an "Introduction". these sections show the purpose or objective of the standard, the subsequent paragraphs expand the details.
Some standards include appendices showing relevant tables and examples which are very useful at a practical level.

Numbers of standards are followed by a secondary explanatory section. These generally show the links between the existing standard and previous standards and to sections of legislation, they commonly point out that a standard now uses the word “Shall” rather than “Should” thus making the substance of that standard mandatory rather than discretionary in nature. Explanatories are, by and large, similar in this respect so I have omitted descriptions of them from this summary.

In effect Audit and Accounting standards now have the force of law because S227B of the Australian Securities and Investments Commission Act 2001 and S336 of the Corporations Act 2001 “Adopt” the standards in force from time to time.
Section 307A of the Corporations Act 2001 requires Auditors to conduct audits undertaken pursuant to Part 2M.3 of the Act in Accordance with current standards. Similarly S334 of the Corporations Act 2001 says that Accounts must comply with the Accounting Standards. Further Auditing standards are now legislative instruments under The Legislstive Instruments Act 2003

The result is that when Audit or Accounting standards are updated they are automatically “adopted” into and become part of corporate law. So when the accounting hierarchy updates the standards an unelected body is changing the law without parliamentary debate. An interesting example of practical need overriding a theoretical democratic process. The neglect of public debate about the majority of changes does not worry me since most of them are about as practically significant as medieval debates as to how many angels can dance on the head of a pin. Some changes however have significant potential and should in my view receive full public scrutiny, whether that would be any actual value is a moot point though since only .0000001% of the population would understand or care.

CurrentThe Essay is provided by UK Assignment http://www.ukassignment.org
Reference

Old Reference Title Comment
<Related Australian References>
( ISA equivalent)
[USA near equivalent]

Institutional Framework – Auditing

Understanding Financial Statement Audits – A guide for Financial Statement Users
One of the most useful individual statement in the book – its only eighteen pages long, read it twice.

POL 1

POL 1 The AuASB Consultative Process When Setting and amending standards the Auditing and Assurance Standards Board consults widely throughout the business community .Note that the AUASB is established under s 225 &227A of the Australian Securities and Investments commission Act 2001, the standards themselves become legislative instruments under the Legislative Instruments Act2003 and are further supported by s336 of the Corporations Act2001.CPA Australia and ACAA are just two of the twenty seven business organisations whose input is invited.

Auditing and Assurance Standards (ASA’s and AUS’s) and Explanatory Statements

Introductory Matters
Foreword to AuASB Pronouncements
Explains the nature of the pronouncements and the due process by which they are developed. The Audit Standards and Guidance statements are authoritative and binding upon professional Accountants.
‘Alerts’ and ‘Discussion papers’ do not carry the same weight as Standards but are released as early warning of impending change and to ensure that proposed changes are thoroughly discussed prior to being decided.
AUS 102 Appendices 1 & 2 illustrate the process.

AUASB Glossary

AUS 104 AUASB Glossary
Definitions section . Students should note that some “ordinary” English words are given special purpose meanings in this context and therefore care is needed in interpreting the standards.
(ISA 110)

ASA 100
Preamble to AUASB Standards
Explains the authoritative nature of the audit standards referring to S227B of the Australian Securities and Investments Commission Act 2001 and S336 of the Corporations Act 2001. Section 307A of the Act requires Auditors to conduct audits undertaken pursuant to Part 2M.3 of the Act in Accordance with the AUASB standards. So these standards have the force of law.
The standards as printed include some material in Bold Type which is mandatory in nature.

ASA 100
AUS 106
Explanatory Statement
Gives technical detail as to how the preamble “fits in” to the overall context of corporate reporting regulation.
Refers to the process by which Audit standards are endorsed via S1455 and regulation 10.5.01 of the Corporations Act and so gain authority under S’s 366 and 307A of that Act The Essay is provided by UK Assignment http://www.ukassignment.org

AUS 108

AUS 108 Framework for Assurance engagements Describes the elements and objectives of assurance engagements, provides Standards for Assurance engagements and acts as a framework for the development of new standards for [specific situations
.It reviews the
o Ethical basis of audit services
o Defines Assurance service objectives
o the scope of differing engagements
then deals with the matter of accepting work and the relationships between the various parties/ stakeholders.
The sections on Criteria, Evidence and reporting are valuable “scene setting” reading for students, as is appendix 1which distinguishes between levels of assurance provided in “Reasonable assurance engagements “ and “Limited assurance engagements”

AUS 110

AUS 110 Assurance engagements other than audits of Historical Financial Information This standard makes the point that full audit procedural rigour as to ethical standards, quality control , materiality and evidentiary standards etc apply equally to non financial audits as to finance audits. It encapsulates the principles and practices to be followed in all audit situations Read it

General Principles and Responsibilities

ASA 200

AUS 202 Objective and General principles Governing an Audit of a financial report
The Corporate Law Economic Reform Program (Audit Reform and Corporate Disclosure) Act 2004 Established the AUASB as an independent statutory body with the right to make Auditing standards for the purposes of the corporations legislation. The Auditing standards are legislative instruments under the “Legislative Instruments Act 2003”
Objective: To enable the auditor to express an opinion as to whether the financial report is prepared in all material respects in accordance with an identified financial reporting framework.
Principles: Independence, integrity, objectivity, competence, confidentiality, technical standards, maintain a professional scepticism ie assess all evidence carefully and don’t be naïve.The tandard ha been broadened somewhat by the latest revision and is now more closely linked to ASA 220300,315 5oo etc than formerly

(ISA 200) [AU 110]

ASA 210

AUS 204 Terms of Audit engagements
Standards for agreeing and documenting the terms of agreement with a client, The terms of the engagement must be fully documented in an engagement letter signed by both parties and if any changes occur these must be similarly documented Misunderstanding is the source of the majority of disputes.
The Appendix is a sample engagement letter

<APS2> (ISA 210) [AU 310]

ASA 210 Explanatory
Links ASA 210 with CLERP 9 , S225 of the ASIC Act
Changes directives from ‘Should’ to ‘Shall’ thus making the standard mandatory rather than discretionary in nature

ASA 220

AUS 206 Quality Control for Audits of Historical Financial Information
Standards for audit firms policies and procedures and delegation of work to staff. The statement deals with such matters as maintenance of Independent status, Briefing and Allocation of suitably skilled staff to each job and Quality control. Supervisory systems must ensure that the audit partner /manager is promptly informed of any unusual developments or discoveries. . Ethical standards are to be maintained at all times Differences of opinion are ,at bottom, to be resolved by the engagement partner who carries the final responsibility

<APS 4> <APS 5> (ISA 220) (ISQC) [AU 200] [QC]The Essay is provided by UK Assignment http://www.ukassignment.org

ASA 230

AUS 208 Audit Documentation
Standards for the documentation of audit planning, work performed and evidence obtained. This is a very important topic. Para .11 lists those things normally included in WPs. Remember that when things go wrong good clear logical work papers are the only valid defence that an Auditor has in court. If, for some reason the auditor cannot complete some mandatory task full details and reasons must be included in the work papers together with details of the alternative procedures undertaken to overcome the problem.

(ISA 230) [AU 339]

ASA 230
Explanatory
This edition of the standard expands the on the form ,content and extent of work papers and emphasises timely completion of them and requires all work papers to be retained for the statutory period.
Changes directives from ‘Should’ to ‘Shall’ thus making the standard mandatory rather than discretionary in nature

ASA 240
& Explanatory

AUS 210 The Auditors responsibility to consider Fraud in an Audit of a Financial Report.
Standards for the planning and conduct of Audits to detect misstatements and irregularities. Procedures to be followed when suspicions are aroused and reporting such problems to appropriate parties.
The standard distinguishes Fraud from error ie contrasts intentional and unintentional misstatements.
The standard reiterates the fact that the primary responsibility for fraud awareness and prevention lies with management but should fraud be exposed it is possible that there could be extra legal complexities relating to libel etc.
Paras 111 to 115 consider the problems which may arise where the auditor is unable to continue due to the existence of Fraud.
Naturally any such event must be most thoroughly and accurately documented since it will end up in court.
The standard lists the characteristics of Fraud, the Inherent limitations of an Audit viz a viz fraud and the proper responses auditors should take in the context of possible fraud at various levels and circumstances. Appendices 1,2 & 3 list Fraud risk factors and some possible audit responses

<ASA 250> <ASA 315> (ISA 240) [AU 316] [AU 317]

ASA 250
& Explanatory

AUS 218 Consideration of Law & Regs. In an Audit of a financial report Management is responsible for compliance with the regulatory regime but auditors must understand the regulations in order to be aware of any non compliance. Guide lines on understanding regulatory framework and the responsibilities of and the Auditor
Auditor procedures in the case of non-compliance or suspected non compliance
Reporting to various stakeholders in the event of non-compliance

<Corporations Act 2001> (ISA250)

ASA 260
& Explanatory

AUS 710 Communication of Audit Matters with those Charged with Governance
And explanatory Where matters of concern arise the auditor must assess the seriousness of these matters and shall promptly inform management The standard includes recommendations as to what levels of management the auditor should communicate his or her concerns. - On occasion it may be appropriate to bypass day to day management and address the Proprietors, Directors or Audit Committee. The auditor shall communicate all matters which might result in accounting misstatements which might be material whether or not they are considered material by day to day management. Basically communication of any such issues is better done in writing, where however it is done verbally it must be recorded in the work papers.

<AAA11> (ISA 400 – relevant but not a direct equivalent) [AU 380]

Risk Assessment and Response to Assessed Risk
ASA 300
& Explanatory

AUS 302 Planning an Audit of a Financial Report
The Auditor must have or obtain sufficient knowledge of the clients business to identify and understand any unusual or significant event which may impact the business.
He/she must produce an audit plan based on this detailed knowledge of the clients affairs and internal control structure. The plan must consider inherent and control risks and materiality, and must detail the nature ,timing and extent of the intended work together with its supervision. The plan must be sufficiently detailed so that if followed properly the overall Audit risk is at an acceptably low level. Planning must take cognisance of the nature and scope of the engagement and must incorporate adequate supervision, documentation procedures and review   Plans must be revised where circumstances change or when unexpected results are encountered.
Appendix 1 contains a list of matters to be considered at the planning stage.

(ISA 300) [AU 311]The Essay is provided by UK Assignment http://www.ukassignment.org

ASA 315
& Explanatory

AUS 402 Understanding the Entity and its Environment and Assessing the risks of Material Misstatements

The standard requires the Auditor to develop a profound understanding of the nature of the clients business and their its place within the industry then, using that knowledge consider audit risk, inherent risk, control risk and detection risk. Particular emphasis is placed on the clients Internal control structure (para 66 to 75) and the Limitations on Internal Control. Where control systems appear weak the Auditor must document the matter and communicate details to management.
Read Appendices 1,2 & 3 in particular
Some clients use service entities (ie outsource some functions ) this may alter their risk profile see - ASA 402

(ISA 400) [AU 319]

ASA 320
& Explanatory

AUS 306 Materiality and Audit Adjustments
Auditors must consider both Quantitative and Qualitative matters when established appropriate Materiality criteria in audit planning for each client and must review / re-asses these matters as the audit progresses. The auditor shall bring all identified misstatements to the attention of management “other than those that are clearly trivial “, this increases the auditors reporting responsibility since previously more discretion was allowed and only “material” matters had to be reported. Note that there is an inverse relationship between materiality and Audit risk which must be considered when appraising the nature timing and extent of audit procedure.
The Auditor must consider the aggregate effect and pervasiveness of misstatements as well as their individual impacts.
Where errors are immaterial the Auditor must nevertheless bring them to managements attention and document the fact that this has been done.

<AASB 1031 / AAS5> <AASB 1001/AAS6> <SAC3> (ISA 320) [AU 312]

ASA 330
& Explanatory

AUS 406 The Auditors Procedures in Response to Assessed Risk The Auditor asses risk at the outset of the engagement to determine the nature, extent and timing of audit procedures. These tasks must be modified as details of altered circumstances and fuller understanding of risks emerge.
Tests of controls are used to determine the extent to which controls may be relied upon. Irrespective of control risk the Auditor must perform substantive testing on material items. On occasion controls cannot be relied upon so the Auditor will conduct extensive substantive procedures to compensate for the absence of decent controls.
After conducting field work the Auditor must evaluate adequacy of the evidence obtained and therefore the risk of misstatement, where the remaining risk is significant he/she must increase testing levels until sufficient evidence has been obtained to support a sound opinion. The auditor must fully document this whole process.

(ISA 330) <ASA 230>

ASA 402
& Explanatory

AUS 404 Audit Implications Relating to Entities Using service Organisations
A clients risk profile is altered when administrative functions are outsourced. Typical situations arise where payroll or accounting functions are provided by bureau services. Since S’s 307 (c) & (d) of the Corporations Act require the auditor to form an opinion about maintenance of proper financial records there is a need to review such outsourced services. Such bureaus may be audited by other firms and so the auditor must also consider the implications of ASA 600. The auditor must consider any Report on the design and implementation and operating effectiveness of the service suppliers Internal Control and in so doing must consider the scope and effectiveness of services supplied by the other auditor. ( Qui custodes custodat ?)

(ISA 402)
Audit Evidence
The mantra pervading this section is that the Auditor must obtain sufficient appropriate Audit evidence upon which to base a professional opinion

ASA 500
& Explanatory

AUS 502 Audit Evidence
The standard gives guidance as to what audit evidence is and requires the Auditor to obtain sufficient appropriate evidence upon which to base his opinion considering the clients control environment. This standard must really be known properly so I will not attempt to summarise it. Students must read and study it thouroughly

(ISA 500) [AU 326]

ASA 501
& Explanatory

AUS 506 Existence and Valuation of InventoryThe Essay is provided by UK Assignment http://www.ukassignment.org

Guidance on obtaining sufficient appropriate evidence as to the existence and valuation of inventory. This is obviously critical since stock is frequently a material element in Balance sheets and frequently critical in profit determination. Bear in mind that stock is one of the most easily manipulated items in a set of accounts. Take particular care with cut off and goods in transit. The auditor wants to know three things about stock. Existence and completeness (what it is and where is it), Ownership ( is it on consignment etc) and Value ( what is its real worth).
The auditor should attend the physical stock take and undertake test counts etc. Where inventory is with third parties the auditor should inspect that inventory or arrange for another auditor to do so. Full documentation must be reviewed /obtained to be sure who owns it and costing records and methods must be checked.
.
(ISA 501) [AU 331]

ASA 505
& Explanatory

AUS 504 External Confirmations
Provides guidance as to what external evidence may be appropriate to support client balances etc. The principal is that third parties (arms length parties) are more likely to provide objective information than in house personnel. Confirmations are appropriate for Goods held at external warehouses & Bond stores , Accounts receivable balances, Loans, Title deeds etc
The nature of the entity influences the appropriateness of the kinds of confirmation sought. The standard considers the use of both positive and negative confirmations at para 24

(ISA 501) [AU 330]

ASA 508
& Explanatory

AUS 508 Inquiry Regarding Litigation and Claims
The objective is to ensure that all material legal issues are identified and adequately disclosed. - includes Advice as to procedures followed and limitations which might be encountered when seeking evidence in respect of legal matters and on assessing that evidence to determine its sufficiency and appropriateness for quantifying any accounting impacts it may have. Remember a client may have more than one legal advisor so you may need multiple are presentation letter requests
Appendix 1 gives an example of an appropriate letter to be sent to a lawyer seeking such information.

(ISA 501) [AU 337]

ASA 510

AUP 29 Initial Engagements - Opening Balances
Concerns determination of accurate opening balances when taking on a client and ensuring appropriate consistent accounting policies are applied. If there has been any change in accounting policy it may be appropriate to amend/restate some of the balances brought forward to avoid prejudicing the current year’s results. If satisfaction cannot be attained a disclaimer or qualified opinion may be necessary

ASA710 ( ISA 510) [AU 315]

ASA 520
& Explanatory
AUS 512 Analytical Procedures
The use of Analytical techniques in comparing data between current and prior periods. Comparisons between budgeted and actual results and the client to the industry as a whole. The procedures may be used in risk assessment in Planning the audit and as substantive procedures Analytical procedures may include statistical methods as well as ratio analysis. The comparative information used must of course be relevant and accurate for comparisons to make sense. Tests may disclose unexpected or unusual relationships outside industry or company norms and such departures will trigger further investigations to obtain additional evidence to prove or disprove the accounting assertions concerned.

(ISA520) [AU 329]

AUS 522
(No ASA replacement)The Essay is provided by UK Assignment http://www.ukassignment.org
Audit Evidence Implications of Externally Managed Assets of Superannuation, Provident or Similar Funds
Advice as to seeking assurances from the managers of externally managed funds and on the need to obtain access to the records of such funds. Assessment of the related audit risks and appropriate responses to it

ASA 530
& Explanatory

AUS 514 Audit Sampling and other Means of Testing
Sampling comprises the accumulation of audit evidence by testing small numbers of transactions considered to be representative of the whole population and assessing outcomes of sampling through statistical methods. The standard notes however that with the use of computer assisted audit techniques (CAATS) it may be economically feasible to test 100% of some aspects of some populations. Sampling may be statistical or non-statistical para 32-34 and the standard discusses sample design, stratification etc and the evaluation of results.

<ASA 500, ASA 315, ASA 330>, (ISA 530) [AU 350]

ASA 540
& Explanatory

AUS 516 Audit of Accounting Estimates
Appraisal of the reasonableness of the value of accounting assertions made in respect of provisions, forecasts, depreciation, accruals, amounts anticipated to flow from litigation etc. This is one of the areas where the auditor must think “outside the square” and make use of a wide range of “non-accounting” evidence. It entails the exercise of judgement under conditions of uncertainty and therefore the risk of error is constant.
The auditor will inter alia compare prior period estimates (budgets with actual outcomes to help assess the astuteness of those persons making estimates.( Of course when personnel have changed this particular approach may be useless.)

<AUS526> (ISA 540) [AU 342]

ASA 545
& Explanatory

AUS 526 Fair -value, measurement and Disclosure Fair value is the price at which willing but not anxious buyers and sellers would do business in the absence of unusual circumstances in a ‘normal’ market The standard addresses audit considerations regarding measurement, presentation and disclosure of material assets, liabilities and components of equity at fair value and stresses the auditor's obtaining sufficient appropriate evidence to support the fair value. Guidance on understanding, evaluating and testing evidence and disclosure.
Subsequent (post balance dare) events casting additional light on valuations shall be disclosed and the auditor must asses the adequacy of fair value disclosures in the context of the applicable financial reporting framework. Note para 35 which considers the use of experts and appendix 1 para 7 which points out the growing ubiquity of fair Value measurement.

<AASB1033> <ASA 540> < UIG Abstract 41> (ISA545)

ASA 550
& ExplanatoryThe Essay is provided by UK Assignment http://www.ukassignment.org

AUS 518 Related Parties
Guidance on Auditors responsibilities regarding "Related Parties" and Transactions with such parties. The purpose of the standard is to ensure that the audited accounts adequately disclose situations / dealings where there may be a potential conflict of interest. It can be difficult to identify such matters because of the complexity of both corporate and personal relationship structures . The auditor must be particularly vigilant concerning non routine transactions and must look not merely to the form but to the underlying substance of relationships and transactions.

<AASB1017> <AAS22> (ISA550) [AU 334]

ASA 560
& Explanatory

AUS 706 Subsequent Events
. This pronouncement is concerned with the so called “Type 1” and “Type 2” events
Events may occur or information might become known between Balance date and the issuance of the report. Where such matters are material and would affect the reliability of the accounts the matters must be disclosed. – The timing of post material post balance date events and the timing of their discovery is critical in determining the Auditors responsibility and course of action. Basically the auditors responsibility for seeing that such events sre reported ceases when the financial report is issued (para21)

<AASB110> <AAS8> (ISA 560) [AU 560]

ASA 570

AUS 708 Going Concern
Accounts are normally prepared on the assumption that the business is a continuing one.ie that it should reasonably be expected to survive for the next 12months The standard identifies matters indicative of problems – Financial issues, Operating or management issues an Other issueswhich must be considered in an appraisal of the firms survivability. It discusses assessment and reporting considerations where such problems are discovered. Appendix 1 shows links between going concern considerations and kinds of audit opinion.
In an extreme case the auditor may be obliged to report that accounts should have been prepared on a liquidation basis.
Appendices 1, 2 and are important and3 should be read.

< AASB1001> <AAS6> (ISA 570) [AU 341]

ASA 580
& Explanatory

AUS520 Management Representations
Management is responsible for the accounts and for internal controls The auditor is inter alia to obtain managements written acknowledgment of these realities Where appropriate audit evidence is unavailable the Auditor may require written representations from management in support of values incorporated in the accounts.
Read appendix 1 which is a sample Management representation letter covering the matters in respect of which auditors typically seek management assurance – the objective is as much as anything to bring home to management that they, more than the auditors, are responsible for the content and presentation of the accounts. Such letters are valuable in the legal context that management then finds it more difficult to try to offload their responsibilities to the auditor

(ISA 580) [AU 333]

Using the Work of Others
ASA 600
& Explanatory

AUS502 Using the work of another Auditor
Where more than one auditor is concerned with a clients affairs one of them will be the "Principal" auditor. For the purposes of the standard the other Auditor(s) will be viewed as subsidiary to the principal auditor who accepts responsibility for their findings and must be satisfied with the standard of the underlying work. A typical example would be where parent company auditors rely on another audit firm to perform assurance services on an interstate subsidiary.
The parent company (principal) auditors overall responsibility for reporting on the group is not diminished by such arrangements. Where the ‘other auditor discovers problems the principal auditor shall take these into account when arriving at the audit opinion

(ISA 600) [AU 543]

ASA 610
& Explanatory

AUS 604 Considering the work of Internal AuditThe Essay is provided by UK Assignment http://www.ukassignment.org
Internal auditors work is performed at the behest of management and forms part of the Internal control structure of the client. The External auditor must assess their work in this light appraising its effect, if any, on the clients control risk. The presence of Internal Audit in no way diminishes the responsibility of the independent external auditor. Appendix 1 canvases matters to be considered ie the internal auditors organisational status, the scope of the internal audit the internal auditor technical competence and the degree of a professional care exhibited through a quality audit program and good working papers

(ISA 610) [AU322]

ASA 620
& Explanatory

AUS 606 Using the Work of an Expert
Auditors use the work of specialists whose skills and knowledge in non accounting fields (eg Art, Engineering, Real Estate, Actuarial matters etc) may be required as part of the evidence needed to arrive at an informed opinion. The auditor must be satisfied that the expert used is independent, has adequate access to appropriate evidence on which to base an opinion and truly has the relevant “ the auditor retains full responsibility for the audit opinion “ .
(ISA 620) [AU336]

Audit Conclusions and Reporting
ASA 700& Explanatory

AUS 702 Establishes mandatory requirements as to the form and content of reports Para22 and describes the various kinds of opinion which may be conveyed by them. In recognition of the increasingly international nature of business Auditors are to specify the country of origin of the standards applied. Take special notice of para .46 which requires the Auditor to state standards under which the report is prepared (eg Australian. And summarises circumstances in which modified reports are appropriate). Para 62 says that where Australian standards are observed then international standards are deemed to be observed
. Consider paras21 to36 which canvas matters affecting and modifying audit opinions
Appendix 2 summarises Audit reporting requirements under the Corporations act 2001
(ISA 700) [AU 508]

ASA 701
& Explanatory

AUS 702
Modifications to the Auditors report This standard is concerned with circumstances where a qualified or non-standard report would be appropriate, Appendices 1 to 5 are significant and give examples of various kinds of report Take particular notice of Appendix 1 which gives a very useful summary in table form and Appendix 2 which provides examples of modified reports.

ASA 710

AUS 704 Comparatives
Auditors must be satisfied that comparative figures from prior periods are accurately stated. Where prior period figures are unaudited this fact must be disclosed. - Remember that where there have been changes in accounting principles or business circumstances Comparatives may need to be revised to reflect the changes. Similarly in the case of a client having overseas operations the different accounting regimes may mean that comparative data is not readily available. Note that where a prior period audit report was qualified some comment may be required in the current report. If for some reason comparatives cannot be verified then this is regarded as a scope limitation and the audit report is to be qualified accordingly

(ISA 710)

ASA 720
& Explanatory

AUS 212 Other Information in Documents Containing Audited Financial Reports
The auditor must read the whole of any document in which his report may be included (eg annual reports) and must respond to any assertion inconsistent with the accounts upon which he is reporting. In other words the Auditor must be very much alert to any ‘spindoctoring’ in the directors report and may be professionally obliged to extend the scope of his enquiries to be able to validly comment on such non accounting assertions. It is of course possible that an apparent Material misstatement within the directors report might alert the auditor to events which should have been reflected in the accounts but were omitted and so the accounts might have to be revised. (This would put great strain on the relationship between Auditors and Directors The directors might b e seen as committing suicide or the Auditors might be convicted of justifiable homicide)

(ISA 720 &ASA800) [AU 550]The Essay is provided by UK Assignment http://www.ukassignment.org

Specialised Areas
ASA 800
& Explanatory

AUS802 The Audit report on Financial Information Other than a General Purpose Financial Report
Applicable to both reporting and non-reporting entities. The auditor must have documented with the client the terms of reference of the engagement. Remember that the engagement might relate to reports prepared under alternative sets of rules or might be in respect of part of a business only (eg for a branch operating division or a specific product or event) this will require careful attention to ensure that only the relevant components of revenue or expense are included in the report. The report itself must clearly state the purpose for which the it was prepared and for whom it was prepared as well as any restrictions on the reports distribution etc.
This is a complex pronouncement and should be read very carefully
Students will benefit from reading Appendices 1-3

(ISA 800) [AU 508]

ISRE 2410 Review of an Interim financial report Performed by the Independent auditor of the Entity A very long pronouncement. Usual ethical standards apply, requires separate engagement letter Paras 34 to 40list matters requiring particular attention Overall the standard gives a good summary of things to be noted in any audit
ASAE3000 Assurance engagements nonfinancials Standard of work to be similar to that expected for Historical accounts ie high but not absolute. Equivalent standards of clarity in terms of engagement, ethical rulings, thoroughness, control & supervision, work paper standards etc to apply
AUS110
AUS106 Explanatory on standards for AUDIT AND audit related services Defines terminology Look at appendix1to slot in relevant meaning an applicability Appendix 2 defines internal audit
Appendix3 concerns the public
AUS522 Evidence re externally managed super funds Sector Provides guidance on acceptable evidence and its implications Consider the Appendix which gives a road map re relevant evidence
AUS804 Prospective Information Advises caution both in accepting and doing the work since prospective means forecasts ie crystal ball stuff ensure that you acquire a good knowledge of the business and its history before you even think about it. Be meticulous in disclosing assumptions in your report etc

AUS 806
(No ASA replacement)

AUP 33 Performance Auditing
Concerns reviews of parts or the whole of an enterprise as to effectiveness / efficiency of operations. The standard includes material on Terms of engagement , Planning, Evidence, Documentation etc

[AUS 808]

AUS 808
(No ASA replacement)

AUS 808 Planning Performance Audits
Very clear objectives must be stated and the plan /scope tailored to those objectives. Performance audits are to be as professionally managed as any other (financial) audit.
Take particular note of Scope 808.10-15, Materiality and Risk 808.16 & 808.17 and the audit ability of the material 808.18
Supplementary toAUS806

AUS 810
(No ASA replacement)

AUS 810 Special Purpose Reports on the Effectiveness of Control Procedures
The Auditor must consider a clients control system from a multi dimensional perspective. Look at the diagram in para10. The Audit may be conducted as an assurance audit or as an Agreed upon procedures engagement.
To appreciate the potential breadth of these engagements read Appendix 2, such engagements require the allocation of experienced senior staff capable of appreciating the subtleties involved – obviously anyone with less than six or seven years hands on audit field experience will be of no use whatever.
If you have American clients Consider the potential interplay of this pronouncement with the requirements of the Sarbanes Oxley act

[AT 400] < ASA 620><AUS804> [AAA13]

The Essay is provided by UK Assignment http://www.ukassignment.org

Auditing Standards on Review Engagements
ASRE 2410
& Explanatory Review of an interim Financial report performed by the Independent auditor of the entity A very long pronouncement. Usual ethical standards apply, requires separate engagement letter Paras 34 to 40list matters requiring particular attention Overall the standard gives a good summary of things to be noted in any audit
AUS 902
(No ASA replacement)

AUS 902 Review of Financial Reports
A critical review of accounts conducted for the clients benefit without a formal audit being conducted. The reviewer should have audit training in order to possess the appropriate critical skills though he/she will not collect the extensive evidence required for an audit per se. The level of assurance offered as to accounts being free of material misstatement is moderate only. The report given is NOT an audit report but is to be headed “Independent Review Report” and the opinion provided is one of “Negative Assurance” saying in effect “I have had a good (but not comprehensive) look at things and there doesn’t seem to be anything obviously wrong” The standard includes an extensive list of required procedures. Look at Appendix 2 in particular.

(ISA 910)

AUS 904
(No ASA replacement)

AUS 904 Engagements to Perform Agreed-upon Procedures
Provides guidance on documenting terms of engagement for specific , frequently limited, investigations resulting in a report of the facts discovered. Such engagements are not formal audits and no formal assurance statement can be issued even though the same standards re terms of engagement, planning, use of experts, documentation, staff supervision etc etc apply .
Read appendices 1 & 2.

(ISA 920) [AT 600] [AU 622]

Auditing and Assurance Guidance Statements
AGS 1002 Bank Confirmation Requests
Standard terminology and procedure for requesting independent confirmation of for audit purposes as to account balances , securities held documents and related information held by banks in respect of client customers.
The request formats are given in Appendices 1, 2 & 3
(Don’t bother asking a bank for information in any other format – they won’t respond !)

AGS 1004 Transitional arrangements on Changes in Audit Appointment under the Corporations Act 2001
Procedures to be followed by outgoing and incoming auditors when changes in appointment occur.
AGS 1006

AUG 2 Expression of an opinion on Internal Control
A routine Audit is an insufficient basis to provide such an opinion because it is limited to a level sufficient to enable an opinion to be given on the financial accounts. If internal controls are weak then the system is less likely to be reliable and yield trustworthy results/ accounts than would otherwise be the case.
To give a proper opinion in this area normally requires additional assurance work extending into non financial areas to be undertaken
Consider the implications of thi stsndard hen servicing American clients subect to the Sarbanes Oxley Act

<ASA 315> <AUS402> <AAA2> [AAA13]The Essay is provided by UK Assignment http://www.ukassignment.org

AGS 1008 Audit Implications of Prudential Reporting Requirements for Authorised Deposit-taking Institutions (ADI’s)
An extensive guidance statement (35 pages) incorporating explanatory material for the guidance of practitioners engaged in the audits of institutions under the Australian Prudential Regulation Authority (APRA was founded in 1998) . This authority has taken over the reserve Banks former role as supervisor of Building societies, Credit unions and Friendly societies etc.

AGS 1014
AUG 9 Privity Letter Requests
The Caparo case of 1990 set a precedent whereby third parties may be able to sue auditors where they relied on audited accounts subsequently shown to be wrong. Third parties sometimes request from auditors an acknowledgment that they (the third parties) will rely on the accounts for investment decisions etc. If the auditor acknowledges the call his reply will evidence his knowledge of that third parties intention and his liability for error may well extend to that third party no matter what disclaimers his reply includes. The auditor must be very careful in replying to such requests. Study Appendix 1 to 3.

AGS 1016
AUG 12 Audit and Review reports of Half-Yearly Financial Reports of Disclosing Entities under the Corporations Act 2001
Section 302 of the Act requires a disclosing entity to prepare half yearly financial reports. Disclosing entities include companies listed on the stock exchange etc. S307 & 309 of the Act require the auditor to review such accounts. The Standard details the matters which must be attended to by the auditor and provides examples of relevant reports.

<ASA 700> <AUS902> [AU 722]

AGS 1024 Life Insurance Act 1995 - Audit Obligations
S84 &85 of the corporations limit appointmentto audit life insurance companies to registered company auditors approved by APRA. The standard includes specific advice on using the work of Actuaries

AGS 1026 Superannuation Funds Auditor Reports on Externally Managed Assets
Superannuation trustees commonly choose to have assets managed by external investment managers .Under these conditions complex relationships can arise regarding audit responsibilities with complex reporting rules. Tables A and B help in sorting out the various considerations. The standard describes such situations and recommends appropriate actions. Frankly it gets far to complicated for an exam question in Accg340

AGS 1030 Auditing Derivative Financial Instruments
The derivatives market is complex and sophisticated
The accounting treatment of this kind of financial instrument is considered in AASB 1012, AASB1033 and AAS33 . The guidance statement provides a lengthy discussion of the associated audit problems It istechnically interesting and will probably provide several PhD topics but frankly gets far to complex for an exam question in Accg340

AGS 1032 The Audit implications of Accounting for Investment in Associates
“Associates” are defined in AAS14 /AASB1016 . It is a rebuttable assumption that where an investor holds a 20%+ stake in an associate significant influence will exist. Under these conditions equity accounting will apply and the auditor will be obliged to consider the audit status of investees in this context.

AGS 1036 The Consideration of Environmental Matters
Environmental issues entail a wide range of matters . Environmental Laws and Regulations, emissions, waste disposal, contamination , hazardous substances, vicarious liability for the actions of previous owners of land etc. At present there is no specific applicable accounting standard The standard stresses the need for auditors to consider the inherent risk and control risk <AUS402.21-.56.>associated with such matters. Additionally the auditor might very well have to make use of expert advisors and therefore need to consider the terms of ASA620. As yet there is very little case law on the topic so it is difficult to give concise advice as to what the standard really means.

<ASA 240> <ASA 610> <AGS1044> (IAPS 1010)The Essay is provided by UK Assignment http://www.ukassignment.org

AGS 1038 Access to Audit Working Papers
Guidelines re permitting third parties access to workpapers. AGS 1038 para 5 identifies common circumstances in which such access may be sought and para’s 22 to 42 are concerned with the details of granting any such access. The appendices give examples of various letters of request and consent in this context. The basic message is that Work papers are confidential and you don’t divulge them lightly.

AGS 1040 Franchising Code of Conduct - Auditors Reports
In franchising agreements exist where financial information is provided to the principal and the standard deals with the matter of auditors reporting to these third parties. Primarily concerned with solvency and Going Concern See S 295(4) of the corporations law(Items 20.1 and 20.3 of the annexure to the Code)

AGS 1042 Reporting on Control Procedures at Outsourcing Entities
Special consideration s when auditing outsourcing entities eg computer bureaus, Payroll services etc. Heavy emphasis on control procedures required to in effect provide bureau customers with a level of assurance.

AGS 1046 Responding to Questions at Annual General meetings
Auditor is not required to answer questions outside the scope of the audit of the financial reports. He/she should make it clear that his report is 'global’ rather than specific to individual items. You should expect questions if a qualified report was issued. Read paras 7 to 13 on planning for AGM then para 15 on the actual responses.
Do not answer questions on specific transaction, internal control or detailed audit procedures
AGS 1048
Withdrawn April 2008 Special Considerations in the Audit of Small Entities
Lists characteristics of small business. (Single proprietor, unsophisticated record keeping etc)

It is still recommend that Auditing Students read this guidance statement as it summarises the principal concepts of the key pronouncements.

AGS 1050 Audit Issues Relating to the Electronic Presentation of Financial Reports
Guidance to an Auditor who is involved in the publication of financial information on line. EG on the Internet. Provides simple definitions of terms (HTML etc) and points out the need to assure the security / integrity of the information provided in this manner. Recommends the use of page numbering etc to identify authentic copies of reports in electronic format.
The principles reflected in ASA, 701 & 800 & in AUS 902 do not change.

AGS 1052 Special Considerations in the Audit of Compliance Plans of Managed Investment Schemes
The managed Investment Act 1998 Provisions are incorporated into Chapter 5c of Corporations law which in turn requires assurance as to compliance. S601HG(1) provides for Audit.

[AU 332] <AUS 810>

AGS 1054 Auditing Revenue of Charitable Entities
Charities have particular audit issues because of the irregular patterns of voluntary income and the fact that they rely on volunteer amateur labour. The standard suggests particular types of control appropriate to their circumstances. Appendix 1 provides a useful checklist.

AGS 1056 Electronic Commerce; Effects on the Audit of a Financial report
The standard lists significant factors in this rapidly changing area. Notes that expertise is not always adequate and offers advice on Experts, outsourcing, Risk, Security infrastructure etc.
My experience has been that the great majority of Auditors and Accountants know far less in this area than they need to know or that they imagine they know. Most of us need expert advice.

AGS 1058 Auditing Mortgage Investment Schemes
ASIC statement PS144 refers to S601ED schemes. Chapter 2M of the corporations act specifies the compliance auditors duties. Auditors of such schemes must be particularly mindful of these regulations when designing their audit programs.

AGS 1062 Reporting in connection with Proposed fundraising
Provides guidance re engagements related to fundraising (share/debenture issues etc) regulated by ASIC under The Corporations Act 2001 and The Financial Services Reform Act 2001. Note that ASIC has issued a Policy Statement (No 170) which must also be considered. Not also that The Australian Stock exchange has requirements which have in effect the force of law.
Prospectuses contain 'projections', if a projection can be shown to lack 'reasonable' grounds it will be "misleading" under S728(2) of the Corporations law, Auditors must be extremely careful. The statement is long(30 pages) and complex. Appendix 1 is the key to its implementation.

<AUS516> <AUS526> <AUS802> <AUS902>The Essay is provided by UK Assignment http://www.ukassignment.org

AGS 1064 Audit implications of Prudential Reporting requirements for General Insurers
This standard has been prepared in conjunction with Australian Prudential Regulation Authority to provide Auditors with specialised guidance on the institutional background and complex requirements surrounding Insurance companies reporting under the Prudential Standards.

<AUS304>

AGS 1066 Report by Auditors on Compliance with International Financial reporting Standards
Guidance where Accounts are prepared under International Financial Reporting Standards

[IAPS1014],

Accounting Professional & Ethical Statements

AES 110

Parts 100.1 to 280.4 Code of Ethics for Professional Accountants

APES 110 is a very long, complex section which must be known by practitioners.

The summary provided here attempts to give the student an overview of the general ideas, it is in no way an adequate substitute for a full reading of the text. General
o Compliance with the code is mandatory and one must follow not only the terms of the code but also the spirit of it.
o Where ethical doubts exist seek advice

Fundamental Principles
o Members must safeguard the public interest
o Must behave with Integrity, Ethically Independently, Objectivity etc
o Must maintain Technical competence
o Must maintain confidentiality of clients/employers affairs
o Members must comply with Accounting and Audit standards and must –simply put - behave in an honourable gentlemanly manner
o When overseas you must follow the higher of Australia or Host countries ethical standards
o May not prepare legal documents

Members in Public Practice
o Must avoid conflicts of interest
o Cannot be a shareholder or director of a client
o Cannot have an indirect financial interest in a client
o Cannot carry out the appointment if close family receives favours or is client executive etc
o Minimum time limits exist for changing roles from Auditor to company executive and vice versa.
o In the event of litigation developing with a client full disclosure must be made to the clients audit committee/directors
o Should never accept work without appropriate client knowledge, expertise and/or resources
o Don’t hesitate to seek expert help when needed.
o Courtesy letters to be exchanged on alterations in appointment
o Members accepting referred work are to protect the referring accountants interest
o Fees must reflect the value of the work
o May not accept fees in excess of 15% of practice income from any one client
o Contingency fees forbidden
o No secret commissions
o Members must not accept substantial gifts / favours nor special loans from clients
o Advertising to be truthful and dignified
o Must account properly for any trust funds and for any other client assets.
o Must not engage in incompatible business
o Separate letterhead
o Must answer correspondence promptly

APES 110
Parts 290.1 to 290-Appendix Independence - Assurance Engagements
Expands in considerable detail with specific reference to Auditors the general rules given in APES110 /100.1 to 280.4 above
Part 290.153 deals with the potential problem of over familiarity with a client leading to a loss of objectivity and recommends rotation of audit staff etc
Parts 290.158 to 290.165 consider problems of independence which could arise where a firm also provides non-audit services which including.
Part 290.174 Valuation Services
Part 290.181 Internal Audit Services
Part 290.187 IT Systems services
Part 290.192 Temporary staff assignments
Part 290.193 Litigation Support
Part 290.203 Recruiting Senior Management
Part 290.204 Corporate Finance
Engaging in any or all of these matters could lead to threats to the independence of Auditors because it may mean that the Auditor might, in the assurance role, be reviewing outcomes of his or her own activities.

APES 110
Parts 300.1 to 350.8 Members in Business The essence of this part is to say that the rules also apply to those directly employed in the corporate world. Accordingly the section provides advice and interpretation /illustrations of the general principles in that context.

APES 320 Quality Control for Firms An Accounting practice is required to establish quality control systems to ensure that the firm and its staff maintain a high standard of professional competence and efficiency. The standard refers to
o Leadership as to quality issues ie maintenance of a culture of excellence
o Ethical standards – Integrity, Objectivity, Care and competence
o Confidentiality
o Professional behaviour - IndependenceThe Essay is provided by UK Assignment http://www.ukassignment.org

A firm must consider whether to accept or continue client relationships, where a client is of poor repute non acceptance or withdrawal may be appropriate.

A firm must make every effort to hire competent people of integrity and to ensure their ongoing education to maintain and improve standards.
The engagement team for each client must comprise appropriately trained and experienced staff and must ensure that work is carried out properly Where difficulties are encountered expert assistance may be appropriate and must be fully documented.
Regular monitoring of work standards must be undertaken.

Additional requirements for practices conducting Assurance (Audit) work are given in parts 19 to 27 as to maintenance of independence, staff rotation etc.
Parts 57 to 73 contain extensive requirements as to quality control reviews.

All firms must have in place policies for dealing with any complaints which may arise

APES 410 Conformity with Auditing and Assurance Standards In a nutshell – you MUST (as a minimum) – observe/adhere to the Auditing and Assurance Standards –AAS’s .
Guidance statements AGS’s have lower thresholds, frankly you would be foolish not to comply but some discretion is permitted in their interpretation.

Miscellaneous Professional Statements
APS 1 Conformity with Accounting Standards and UIG Consensus views
Where the client is a "reporting entity" you will comply,
(and where its not a reporting entity you would be seriously stupid not to).
APS 2 Terms of Engagement
It is essential to establish clear understanding as to what work is to be done at the beginning of any appointment. This standard advises what matters should be covered in documenting agreements, and provides specimen engagement letter. You will recall that terms of engagement are referred to in numerous places throughout the standards.

APS 6 Statement of Taxation Standards
Equivalent standards of skill, care and competence, confidentiality objectivity etc apply to tax as to audit and accounts.

APS 7 Statement of Insolvency Standards
Mandatory Rules. Appointment cannot be accepted where conflicts of interest exist. Overlap of function as auditor and liquidator is forbidden. Complex rules as to capacities to accept appointment based on potential conflicts of interest – see Part II
No personal transaction may occur with the client. Remuneration may only be as prescribed by law or CPC F6.

APS 8 Statement of Management Consulting Services Standards
Mandatory rules concerning consultancy assignments. These include: Avoidance of conflicts of Interest, Independence, Skill and competence, Reasonable care, Confidentiality and Performance standards.
Fees must be determined in accordance with CPC:F6

APS 9 Statement on Compilation of Financial Reports
Mandatory rules. Where an Accountant prepares accounts as distinct from auditing them all accounting standards must be observed but no audit opinion or assurance may be expressed., and specific disclaimers must be given.

(ISA 930)

APS 10 Trust Accounts
Mandatory rules. Where a member receives monies on behalf of a client those monies are to be handled in accordance with the clients written instructions. Members may only deposit monies into an account operated by the member where that account is a trust account. In principal rules as to the operation of the trust account .The account must be audited annually.
<Detailed requirements are contained in GN 3>

APS 11 Statement of Forensic Accounting Standards Defines forensic Accounting in part 3 as;
“ ..the provision of professional services (but not legal services)in
(a) assisting or advising clients in any aspect of accounting relating to the financial investigation of
1. the quantum of economic loss
2. valuation of shares or other assets
3. breaches of professional standards or relevant corporations or security law
4. fraud; and
5. such other investigative work; and
(b) presenting the results of that analysis for the purpose of dispute resolution or litigation in a Court or Tribunal or other forum, and the giving of evidence

Thus it is about getting evidence to go to court with.

The standard reiterates the general standards of care etc ie
o Independence
o Skill and competence
o Reasonable care
o Confidentiality
o Comply with Professional code
o Changes in opinion due to errors discovered etc
o Quality controlThe Essay is provided by UK Assignment http://www.ukassignment.org
o Estimates used to be well supported

<GN 2>

APS 12 Statement of Financial Advisory Service Standards Members are engaged in the provision of financial advice from time to time and may in that context hold AFS licensing. The usual mantra concerning protection of the public interest, Integrity, Terms of engagement, Objectivity , Independence, Confidentiality, Maintenance of technical standards, Care and Competence etc apply. The basis of the determination of fees is of particular concern see part 18 as is the disclosure of fees Appendix 1.

RMS 1 Risk Management Statement Advice to practitioners as to identifying and evaluating risks associated with the running of their practices. Risks arise from the services performed, the terms of engagement and client acceptance as well as in respect of the performance standards achieved. PI insurance is essential and in some cases extensions on the policy are appropriate. Schedule B discusses the Liability of Accountants to clients and third parties.
Vital reading for actual practitioners.

Joint Guidance Notes
GN 1 Members in Business Guidance statement Statement comprises guidelines for the Resolution of Ethical Conflicts and a section on the fundamental principles of professional Conduct for Members in Business

which reiterates the Public interest, Integrity, Objectivity, Independence, Confidentiality, Technical standards, Skill and care and Ethical Behaviour issues.
The most useful sections are Examples 1 and 2

GN 2 Forensic Accounting Relies on the definition in APS 11 and suggests guidelines as to procedures where a dispute exists requiring facts to be determined and presented to a court or tribunal for resolution of the dispute. Distinguishes an Independent Accounting expert whose duty is to assist the court, from a Consulting accounting expert whose duty is to his client.

Includes an appendix recommending procedures to be followed for conferences of experts designed to streamline/resolve advices to be submitted to the court, recommending, inter alia, a standard Agenda format.

GN 3 Operation of trust Accounts Gives specific rulings as to which monies are or are not subject to trust rules the details and information to be shown in the records and detailed procedures which should be followed. Includes specific instructions concerning identification of receipts, payments by Cheque and EFT as well as requiring weekly backups and monthly reconciliations.
<APS10>

N2 Money laundering Guidelines Issues: Money laundering is naughty and can get you 20 years state supported board and lodgings and guidelines have been developed to help accountants recognise and therefore step round the risks
N3 Risk management
N5 Commencing public Practice Advice to the beginner
N6 Reporting Fraud and other offences Basically an accountant must maintain client confidentiality but may be obliged by law to disclose information to authorities under Corporations and Tax legislation. In grey areas you may risk being sued for defamation and. Failure to report certain offences is an offence of itself. (No one said that this was a risk free profession), Legal advice may well be required.
R series Regulations for C A’s Various rules about membership etc irrelevant until wellafter finishing your degree

Index

Topic Reference
Access to Work papers AGS1038
Actuaries GS005
ADI’s Audit implications AGS1008
Agreed upon Procedures AUS904
Analytical Procedures ASA520
Audit Reports ASA700
Internal Audit ASA610
Bank Confirmations AGS1002
Changes in appointment AGS1004
Charities AGS1054
Code of Ethics APES110
Communication with directors etc ASA260
Comparatives ASA710
Comparatives ASA710
Compatibility Aust & International Acc standards APS3
Compilation of financials APS9
Compliance Managed investment schemes AGS1052
Compliance with International Acc Standards AGS1066
Concise financials GS001
Conformity with ACC Standards and UIG APS1
Conformity with accounting standards APES205
Conformity with audit standards APES410
Consultative process POL1
Controls at outsourcing entities AGS1042
Derivatives AGS1030The Essay is provided by UK Assignment http://www.ukassignment.org
Documentation Asa230
E’Commerce AGS1054
Electronic publishing of Audit report GS006
Engagements other than for Historical Financials Asa110
Environmental matters AGS1036
Estimates ASA540
Evidence ASA500
Evidence re externally managed assets super funds AUS522
Evidence re Externally managed assets super funds AUS522
Experts ASA620
Experts ASA620
Explanatory for Audit Standards AUS106
Explanatory on Audit related services AUS106
External Confirmations ASA505
Fair value ASA545
Financial advising APS12
Financial Services Licences GS003
Forensic Acc APS11
Framework for Assurance engagements ASA108
Franchising AGS1040
Fraud ASA240
Fundraising AGS062
General Insurers GS004
Glossary p51
Going Concern ASA570
Implications of service entity ASA402
Implications of externally managed assets of Super funds AUS522
Initial Engagements ASA510
Inquiry re litigation ASA508
Insolvency APS7
Internal Audit ASA610
Inventory ASA501
Investments in Associates AGS1032
Law & Regs in an Audit ASAA250
Life Insurance AGS1024
Management Consultancy APS8
Management representations ASA580
Materiality ASA320
Modified Audit Reports AASA701
Modified Reports ASA701
Mortgage Investment schemes AGS1058
Objectives Reaudit of financials ASA200
Opinion on Internal control AGS1006
Other Information in reports ASA720
Other information in Reports ASA720
Other types of Engagement ASAE3000
Performance Audits AUS806
Performance Audits AUS806
Planning an Audit Asa300
Planning Performance Audits AUS808
Planning performance audits AUS808
Preamble to standards ASA100
Privity letters AGS1014
Prospective Information AUS804
Prospective information AUS804
Prospectuses etc F2
Quality Control for firms APES320
Quality control of Audits ASA220
Questions at AGM AGS1046
Related parties ASA550
Remuneration Disclosure GN
Report on Control Procedures AUS810
Reporting ASA700
Reports on Controls AUS810
Reports on Special Purpose Engagements ASA800
Response to risk ASA330
Review Financials AUS902
Review Interim Financials ASRE2410
Review Interim reports ISRE2410
Review of Financials AUS902
Review of half year financials AGS14016
Review of interim Financials ASRE2410
Risk management re Super GS002
Sampling ASA530
Small entities AGS1048
Subsequent events ASA560
Super funds AGS1026
Taxation APES220
Taxation Standards APS6
Terms of Engagement ASA210
Terms of engagement APES305
Terms of Engagement APS2
Transitional arrangements AGS1004
Trust accounts Aps10The Essay is provided by UK Assignment http://www.ukassignment.org
Understanding Financial statement Audits In the Front of the book
Understanding the Client ASA315
Using another auditor ASA600