AUASB Repeal of Superseded Auditing Standards 2020 I, Professor Roger Simnett AO, Chair of the Auditing and Assurance Standards Boards, make the following legislative instrument. Dated 11 November 2020 Professor Roger Simnett AO Chair – AUASB Contents Part 1—Preliminary 1 Name 2 Commencement 3 Authority 4 Repeal of redundant instruments Schedule 1—Repeal of redundant instruments Part 1—Preliminary 1 Name This instrument is the AUASB Repeal of Superseded Auditing Standards 2020. 2 Commencement This instrument commences on the day after it is registered. 3 Authority This instrument is made pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001. 4 Repeal of superseded instruments (1) Each instrument that is specified in Column 1 of the table in Schedule 1 is repealed. (2) Despite the repeal, each instrument in Column 1 continues to apply in relation to any period ending before the period in relation to which the corresponding instrument in Column 2 started to apply under subsection 336(3) of the Corporations Act 2001, as if the repeal had not occurred. Schedule 1—Repeal of redundant instruments Item Column 1 Note Column 2 Note Instrument name and series number (if any) FRL Identifier Instrument name and series number (if any) FRL Identifier 1. ASA 100 - Preamble to AUASB Standards - April 2006 F2006L01321 ASA 101 - Preamble to Australian Auditing Standards - October 2009 F2009L04062 2. ASA 102 - Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements - October 2009 F2009L04059 Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (reissued March 2018) F2018L00434 3. Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (reissued March 2018) F2018L00434 Auditing Standard ASA 102 Compliance with Ethical Requirements when Performing Audits, Reviews and Other Assurance Engagements (reissued December 2019) F2019L01673 4. ASA 200 - Objective and General Principles Governing an Audit of a Financial Report - April 2006 F2006L01360 ASA 200 - F2009L04064 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Australian Auditing Standards - October 2009 5. ASA 210 - Terms of Audit Engagements - April 2006 F2006L01364 ASA 210 - Agreeing the Terms of Audit Engagements - October 2009 F2009L04078 6. ASA 220 - Quality Control for Audits of Historical Financial Information - April 2006 F2006L01365 ASA 220 - Quality Control for an Audit of a Financial Report and Other Historical Financial Information - October 2009 F2009L04066 7. ASA 230 - Audit Documentation - April 2006 F2006L01366 ASA 230 - Audit Documentation - October 2009 F2009L04074 8. ASA 240 - The Auditor's Responsibility to Consider Fraud in an Audit of a Financial Report - April 2006 F2006L01368 ASA 240 - The Auditor's Responsibilities Relating to Fraud in an Audit of a Financial Report - October 2009 F2009L04075 9. ASA 250 - Consideration of Laws and Regulations in an Audit of a Financial Report - April 2006 F2006L01369 ASA 250 - Consideration of Laws and Regulations in an Audit of a Financial Report - October 2009 F2009L04105 10. ASA 250 - Consideration of Laws and Regulations in an Audit of a Financial Report - October 2009 F2009L04105 Auditing Standard ASA 250 Consideration of Laws and Regulations in an Audit of a Financial Report F2017L01172 11. ASA 260 - Communication of Audit Matters with Those Charged With Governance - April 2006 F2006L01370 ASA 260 - Communication with Those Charged with Governance - October 2009 F2009L04067 12. ASA 260 - Communication with Those Charged with Governance - October 2009 F2009L04067 ASA 260 - F2015L02036 Communication With Those Charged With Governance - December 2015 13. ASA 300 - Planning an Audit of a Financial Report - April 2006 F2006L01371 ASA 300 - F2009L04077 Planning an Audit of a Financial Report - October 2009 14. ASA 315 - Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement - April 2006 F2006L01372 ASA 315 - F2009L04079 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment - October 2009 15. ASA 320 - Materiality and Audit Adjustments - April 2006 F2006L01375 ASA 320 - Materiality in Planning and Performing an Audit - October 2009 F2009L04080 16. ASA 330 - The Auditor's Procedures in Response to Assessed Risks - April 2006 F2006L01378 ASA 330 - The Auditor's Responses to Assessed Risks - October 2009 F2009L04081 17. ASA 402 - Audit Considerations Relating to Entities Using Service Organisations - April 2006 F2006L01379 ASA 402 - F2009L04082 Audit Considerations Relating to an Entity Using a Service Organisation - October 2009 18. ASA 500 - Audit Evidence - April 2006 F2006L01380 ASA 500 - F2009L04084 Audit Evidence - October 2009 19. ASA 501 - Existence and Valuation of Inventory - April 2006 F2006L01381 ASA 501 - Audit Evidence - Specific Considerations for Inventory and Segment Information - October 2009 F2009L04085 20. ASA 505 - External Confirmations - April 2006 F2006L01382 ASA 505 - External Confirmations - October 2009 F2009L04088 21. ASA 508 - Enquiry Regarding Litigation and Claims - April 2006 F2006L01384 ASA 502 - Audit Evidence - Specific Considerations for Litigation and Claims - October 2009 F2009L04086 22. ASA 510 - Initial Engagements - Opening Balances - April 2006 F2006L01385 ASA 510 - Initial Audit Engagements - Opening Balances - October 2009 F2009L04089 23. ASA 520 - Analytical Procedures - April 2006 F2006L01387 ASA 520 - Analytical Procedures - October 2009 F2009L04090 24. ASA 530 - Audit Sampling and Other Means of Testing - April 2006 F2006L01389 ASA 530 - Audit Sampling - October 2009 F2009L04091 25. ASA 540 - Audit of Accounting Estimates - April 2006 F2006L01390 ASA 540 - F2009L04092 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures - October 2009 26. ASA 540 - F2009L04092 Auditing Standard ASA 540 Auditing Accounting Estimates and Related Disclosures F2019L00014 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures - October 2009 27. ASA 545 - Auditing Fair Value Measurements and Disclosures - April 2006 F2006L01395 ASA 540 - F2009L04092 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures - October 2009 28. ASA 550 - Related Parties - October 2006 F2006L03392 ASA 550 - Related Parties - October 2009 F2009L04093 29. ASA 560 - Subsequent Events - April 2006 F2006L01396 ASA 560 - Subsequent Events - October 2009 F2009L04094 30. ASA 570 - Going Concern - April 2006 F2006L01397 ASA 570 - Going Concern - October 2009 F2009L04095 31. ASA 570 - Going Concern - October 2009 F2009L04095 ASA 570 - Going Concern - December 2015 F2015L02015 32. ASA 580 - Management Representations - April 2006 F2006L01398 ASA 580 - Written Representations - October 2009 F2009L04096 33. ASA 600 - Using the Work of Another Auditor - April 2006 F2006L01399 ASA 600 - Special Considerations – Audits of a Group Financial Report (Including the Work of Component Auditors) - October 2009 F2009L04097 34. ASA 610 - Considering the Work of Internal Audit - April 2006 F2006L01400 ASA 610 - Using the Work of Internal Auditors - October 2009 F2009L04098 35. ASA 610 - Using the Work of Internal Auditors - October 2009 F2009L04098 ASA 610 - Using the Work of Internal Auditors - November 2013 F2013L01938 36. ASA 620 – Using the Work of an Expert – April 2006 F2006L01401 ASA 620 – Using the Work of an Auditor's Expert - October 2009 F2009L04099 37. ASA 700 - The Auditor's Report on a General Purpose Financial Report - April 2006 F2006L01402 ASA 700 - Forming an Opinion and Reporting on a Financial Report - October 2009 F2009L04100 38. ASA 700 - Forming an Opinion and Reporting on a Financial Report - October 2009 F2009L04100 ASA 700 - Forming an Opinion and Reporting on a Financial Report - December 2015 F2015L02013 39. ASA 701 - Modifications to the Auditor's Report - April 2006 F2006L01403 ASA 705 - Modifications to the Opinion in the Independent Auditor's Report - October 2009 F2009L04101 40. ASA 705 - Modifications to the Opinion in the Independent Auditor's Report - October 2009 F2009L04101 ASA 705 - Modifications to the Opinion in the Independent Auditor's Report - December 2015 F2015L02017 41. ASA 706 - Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report - October 2009 F2009L04102 ASA 706 - Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor's Report - December 2015 F2015L02037 42. ASA 710 - Comparatives - April 2006 F2006L01404 ASA 710 - Comparative Information - Corresponding Figures and Comparative Financial Reports - October 2009 F2009L04103 43. ASA 720 - Other Information in Documents Containing Audited Financial Reports - April 2006 F2006L01405 ASA 720 - The Auditor's Responsibilities Relating to Other Information in Documents Containing an Audited Financial Report - October 2009 F2009L04104 44. ASA 720 - The Auditor's Responsibilities Relating to Other Information in Documents Containing an Audited Financial Report - October 2009 F2009L04104 ASA 720 - The Auditor's Responsibilities Relating to Other Information - December 2015 F2015L02027 45. ASA 800 - The Auditor's Report on Special Purpose Audit Engagements - April 2006 F2006L01406 ASA 800 - Special Considerations - Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks - October 2009 F2009L04106 46. ASA 800 - Special Considerations - Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks - October 2009 F2009L04106 ASA 800 - Special Considerations–Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks - July 2016 F2016L01268 47. ASRE 2410 - Review of an Interim Financial Report Performed by the Independent Auditor of the Entity - April 2006 F2006L01407 ASRE 2410 - Review of a Financial Report Performed by the Independent Auditor of the Entity - October 2009 F2009L04107 48. ASRE 2410 - Review of a Financial Report Performed by the Independent Auditor of the Entity - October 2009 F2009L04107 Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (July 2020) F2020L00909