Australian National Audit Office Auditing Standards 2024

I, Grant Hehir, Auditor-General, make the following instrument.

Dated 9 January 2024

Grant Hehir

Auditor-General

Name

1. This instrument is the Australian National Audit Office Auditing Standards 2024.

Commencement

2.       This instrument commences as follows:

Authority

3.       As required by section 24 of the Auditor-General Act 1997 (the Act), I hereby set auditing standards that are to be complied with by persons performing any of the following functions:

(a)                an audit or review referred to in Division 1 (Annual financial statement audits), Division 1A (Annual performance statement audits), Division 2 (Performance audits) or Division 2A (Assurance reviews) of Part 4 of the Act;

(b)                an audit under Division 2 of Part 7 of the Act (Audit of the Australian National Audit Office); and

(c)                an audit under section 49 of the Public Governance, Performance and Accountability Act 2013 (audit of the annual consolidated financial statements of the Australian Government).

Definitions

4.       In this instrument:

ethics means the performance principle relating to the extent to which the proposed use of public resources is consistent with the core beliefs and values of society. Where a person behaves in an ethical manner it could be expected that a person in a similar situation would undertake a similar course of action. For the approval of proposed commitments of relevant money, an ethical use of resources involves managing conflicts of interests, and approving the commitment based on the facts without being influenced by personal bias. Ethical considerations must be balanced with whether the use will also be efficient, effective and economical.

Auditing Standards 

5.       The Australian National Audit Office (ANAO) Auditing Standards comprise the standards referred to below, to the extent that they are not inconsistent with requirements of the Act or other relevant legislation, and to the extent that they apply to the relevant audit or review activity:

(a)                Standards made by the Australian Auditing and Assurance Standards Board (AUASB) pursuant to paragraph 227B(1)(a) of the Australian Securities and Investments Commission Act 2001 (ASIC Act) and section 336 of the Corporations Act 2001, that are current from time to time.

(b)                The standards listed in the following table that are issued by the AUASB pursuant to paragraph 227B(1)(b) of the ASIC Act.

6.       In respect of a performance audit under Division 2 of Part 4 of the Act or a performance audit of the Australian National Audit Office under Division 2 of Part 7 of the Act the ANAO Auditing Standards comprise the standards referred to below, to the extent that they are not inconsistent with requirements of the Act or other relevant legislation, and to the extent that they apply to the relevant audit or review activity:

(a)                Standard on Assurance Engagements ASAE 3500 Performance Engagements issued on 6 September 2022 by the AUASB pursuant to paragraph 227B(1)(b) of the ASIC Act, except that ‘economy, efficiency, effectiveness and/or ethics’ is substituted for all instances of ‘economy, efficiency and/or effectiveness’, and except for the following requirements paragraphs:

1. Paragraph 33 relating to obtaining an understanding of internal controls relevant to the evaluation of the activity’s performance against the identified criteria;

ii.                   Paragraph 34 relating to procedures relating to non-compliance with laws and regulations; and

iii.                 Paragraph 45 relating to the assurance report content.

(b)                The reporting requirements of the International Standard of Supreme Audit Institutions ISSAI 3000 Performance Audit Standard, endorsed 2019, by the International Organisation of Supreme Audit Institutions (INTOSAI) contained in paragraphs 116, 122, 124 and 126.

7.       Notwithstanding clause 6 of this instrument, in respect of a performance audit under Division 2 of Part 4 of the Act which the Auditor-General elects to wholly or in part conduct as a compliance engagement and a performance audit of the Australian National Audit Office under Division 2 of Part 7 of the Act which the Independent Auditor elects to wholly or in part conduct as a compliance engagement, the ANAO Auditing Standards also comprise the standards referred to below, to the extent that they are not inconsistent with requirements of the Act or other relevant legislation, and to the extent that they apply to the relevant audit or review activity:

(a)                Standard on Assurance Engagements ASAE 3100 Compliance Engagements issued on 6 September 2022 by the AUASB pursuant to paragraph 227B(1)(b) of the ASIC Act, except for the requirements in paragraph 56 relating to the assurance report content.

(b)                The reporting requirements of the International Standard of Supreme Audit Institutions ISSAI 4000 Compliance Audit Standard, endorsed 2019, by the International Organisation of Supreme Audit Institutions (INTOSAI) contained in paragraphs 202, 210 and 218.

8.       These ANAO Auditing Standards revoke all previous auditing standards set under section 24 of the Act.

9.       Notwithstanding clause 8 of this instrument, the auditing standards which apply in respect of an audit or review are:

(a)                In respect of an audit conducted under:

1. Division 1 or Division 1A of Part 4 of the Act;

ii.                   section 44 of the Act; or

iii.                 section 49 of the Public Governance, Performance and Accountability Act 2013 –

the ANAO Auditing Standards in force during the reporting period to which the subject matter of the audit relates; or

(b)                In respect of an audit or review conducted under:

1. Division 2 or Division 2A of Part 4 of the Act; or

ii.                   section 45 of the Act –

the ANAO Auditing Standards in force at the commencement of the audit or review.