logo

Study on Auditing and Assurance Standards Board

5 Pages1013 Words396 Views
   

Added on  2019-10-09

Study on Auditing and Assurance Standards Board

   Added on 2019-10-09

ShareRelated Documents
Running Head: AuditingAUDITING
Study on Auditing and Assurance Standards Board_1
Auditing2Australian regulators and regulations that impact on the work of auditors in relation to auditing the financial statements and the environment in which they operate and are held accountableIn this study, the official site of Auditing and Assurance Standards Board is selected. Thetwo selected topics from the official site of Auditing and Assurance Standards Board by considering which this study is conducted are Auditing Standards and Audit Quality (auasb.gov.au, 2018).The Australian regulators responsible for influencing auditors and their work in relation to auditing financial statements are Auditing and Assurance Standard Board (AUASB), CPA Australia, ICAA (Institute of Chartered Accountants Australia) and Accounting Professional and Ethical Standards Board. Some of the auditing regulations or standards that impact on auditors’ work on the companies’ financial statements and the environment in which they use to operate and held accountable for are as follows –Auditing StandardASA200 - Objectives of an Independent Auditor and the Conduct of an Auditaccording to Australian Auditing StandardsAuditing StandardASA315 - Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its EnvironmentAuditing StandardASA705 - Modifications to the Opinion in the Independent Auditor’s ReportAuditing StandardASA700 and ASA 800Auditing StandardASA230 - Audit DocumentationAuditing StandardASA260 - Communication with Those Charged with GovernanceASA 701 - Communicating Key Audit Matters in the Independent Auditor’s Report (legislation.gov.au, 2018).Impact of the regulator on application or monitoring of auditing standards or ethical obligations for auditorsIn Australia, the regulators of auditors and their auditing work assist the auditors to work in an appropriate manner without providing any kind of harm to any of the people associated
Study on Auditing and Assurance Standards Board_2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Auditing, Assurance & Services Assignment
|13
|3207
|49

Auditing and Assurance: Evaluating Financial Reports of Woolworths Limited
|10
|3615
|215

Auditing, Assurance & Services : Report
|13
|3390
|129

Auditing and Assurance Services
|8
|1435
|234

Important Elements of Auditing Standards in Australia
|12
|2506
|368

ACC707 Auditing & Assurance of Coca - Cola : Report
|11
|3924
|105