This page lists standards which have been approved and issued by the AUASB recently, some of which may not be effective yet. Unless otherwise stated, AUASB standards may be early adopted in conjunction with any conforming or consequential amendments.  

ASA 570 Going Concern

The AUASB approved the adoption of international standard ISA 570, Going Concern in Australia at the May 2025 AUASB meeting. ASA 570 applies for financial reporting periods commencing on or after 15 December 2026. The revised standard significantly enhances the auditor’s work in evaluating management’s assessment of an entity’s ability to continue as a going concern. The standard includes new requirements for the auditor to respond to identified risks of material misstatement related to going concern. The standard also strengthens the auditor’s reporting requirements. The revised ASA 570 is available in the AUASB Standards Portal.  

Australian Standards on Sustainability Assurance

The AUASB recently approved the adoption of international standard ISSA 5000 General Requirements for Sustainability Assurance Engagements in Australia. ISSA 5000 was formally launched by the International Auditing and Assurance Standards Board on 27 January 2025. As well as contributing to greater international alignment of assurance over climate and other sustainability information the new standard will support confidence in information disclosed in the annual reports of Australia’s largest companies from years commencing 1 January 2025. AUASB standard ASSA 5000 General Requirements for Sustainability Assurance Engagements will apply to sustainability assurance engagements for reporting periods beginning on or after 1 January 2025.

Phasing of assurance for mandatory climate reporting

For mandatory climate reporting under the Corporations Act 2001 (the Act), ASSA 5000 will be subject to the phasing in of limited and reasonable assurance under AUASB standard ASSA 5010 Timeline for Audits and Reviews of Information in Sustainability Reports under the Corporations Act 2001. 

ASSA 5000 and ASSA 5010 are available in the AUASB Standards Portal.