Roles & Responsibilities
The roles and responsibilities of the Group are to:
- support interested and affected parties in the LCE audit ecosystem by responding to issues relating to the efficient and effective application of aspects of the CASs to LCE audits;
- work with the AASB to make new or revised CASs scalable and proportional to LCE audits (e.g., providing input on whether a CAS Exposure Draft sufficiently addresses scalability concerns); and
- inform the AASB on emerging issues and significant developments in the LCE audit ecosystem.
Meetings
The Group meets privately approximately four times a year. Results of the Group’s meetings are reported to the AASB’s Steering Committee.
Membership
The Group consists of up to 15 members with a range of backgrounds and experience, and includes:
- AASB members;
- practitioners;
- those who prepare implementation guidance, training, or methodology; and
- practice inspectors.
Members are generally appointed for a three-year term and are eligible for reappointment. Members are expected to have an in-depth understanding of auditing standards and of their application in practice.
Others may be invited to participate in meetings on an ad hoc basis to contribute to discussions on particular issues.