As a member of the joint accounting bodies CPA Australia has commented that the approach adopted in APES 210 Conformity with auditing and assurance standards, as currently applies, is preferred to that proposed in ED 03/08 in a submission lodged with the Accounting Professional & Ethical Standards Board (APESB) in July.
ED 03/08 is drafted to apply to members in public practice together with members in business who undertake assurance engagements and related work in an honorary capacity. Defining members in business to be members in public practice under certain circumstances is not helpful.
The joint accounting bodies are of the opinion that APES 210 has achieved its aim of ensuring members apply the standards to conduct engagements which those standards logically apply.
Further information
view the joint accounting bodiesÂ’ response to ED 03/08
view the exposure draft ED 03/08 on the APESB website
