Accounting and Assurance Standards
May-2024
Target Audience: All attest auditors
Effective date: 1 April 2024
Prepared by: AEA
Description of Subject: Quarterly update of the OAG List of new or amended accounting and assurance standards. This update supersedes the previous version.
Impact on Audit Teams: The list covers all new IFRS, PSAS and assurance standards that are mandatorily effective for 31 December or 31 March year‑end audits.
The list was created to help keep auditors current on recent developments in accounting and assurance that are relevant to the entities we audit.
An Excel-based tool was used in order to generate a customized report to meet specific information needs, and to assist auditors with a variety of requirements, such as (but not limited to):
- Preparing RAC documents,
- Auditing financial statement note disclosures (such as changes in accounting policies),
- Preparing for discussions with audit entities, or
- Keeping current on recent developments in accounting and assurance standards relevant to the entities we audit.
Questions: Contact AEA.