ASA_701_Actual_auditing_standard_2015_81927991.pdf - ASA...

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ASA 701(December 2015)Auditing Standard ASA 701Communicating Key Audit Matters in theIndependent Auditor’s ReportIssued by theAuditing and Assurance Standards Board
ASA 701- 2 -AUDITING STANDARDObtaining a Copy of this Auditing StandardThis Auditing Standard is available on the Auditing and Assurance Standards Board (AUASB)website: Contact DetailsAuditing and Assurance Standards BoardPodium LevelLevel 14, 530 Collins StreetMelbourneVictoriaAUSTRALIA3000Phone: (03) 8080 7400E-mail: [email protected]Postal Address:PO Box 204, Collins Street WestMelbourneVictoriaAUSTRALIA8007COPYRIGHT© 2015 Commonwealth of Australia.The text, graphics and layout of this Auditing Standard are protected by Australiancopyright law and the comparable law of other countries.Reproduction within Australia in unaltered form (retaining thisnotice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source asbeing the Australian Auditing and Assurance Standards Board (AUASB).Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed tothe Executive Director, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne,Victoria 8007 or sent to[email protected].Otherwise, no part of this Auditing Standard may be reproduced, stored ortransmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.This Auditing Standard reproduces substantial parts of the corresponding International Standard on Auditing issued by theInternational Auditing and Assurance Standards Board (IAASB) and published by the International Federation ofAccountants (IFAC), in the manner described in the statement on Conformity with International Standards on Auditing.TheAUASB acknowledges that IFAC is the owner of copyright in the International Standard on Auditing incorporated in thisAuditing Standard throughout the world.All existing rights in this material are reserved outside Australia.Reproduction outside Australia in unaltered form (retainingthis notice) is permitted for personal and non-commercial use only.Further information and requests for authorisation to reproduce this Auditing Standard for commercial purposes outsideAustralia should be addressed to the Executive Director, Auditing and Assurance Standards Board, PO Box 204, CollinsStreet West, Melbourne, Victoria 8007 or sent to[email protected].Any decision to approve a request may alsorequire the agreement of IFAC.ISSN 1833-4393
Auditing Standard ASA 701Communicating Key Audit Matters in the Independent Auditor’s ReportASA 701- 3 -AUDITING STANDARDCONTENTSPREFACEAUTHORITY STATEMENTCONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITINGParagraphsApplication.....................................................................................................................Aus 0.1-Aus 0.2Operative Date.............................................................................................................................Aus 0.3IntroductionScope of this Auditing Standard...........................................................................................................1-5Effective Date...........................................................................................................................................6Objectives................................................................................................................................................7Definition.................................................................................................................................................8RequirementsDetermining Key Audit Matters.........................................................................................................9-10Communicating Key Audit Matters.................................................................................................11-16

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