Revocation of Auditing Standard ASA 550 - Related Parties (F2006L01394)

Administered by Department of the Treasury

Legislation au F2006L03391 Not in force Legislative Instrument

Legislation content

 (October 2006)

 

 

 

 

Explanatory Statement

 

Revocation of Auditing Standard ASA 550
Related Parties (F2006LO1394)

 

 

Issued by the Auditing and Assurance Standards Board

 

Explanatory Statement

Reasons for Issuing Revocation of Auditing Standard ASA 550 Related Parties (F2006LO1394)

The Auditing and Assurance Standards Board (AUASB) makes Revocation of Auditing Standard ASA 550 Related Parties (F2006LO1394) to revoke Auditing Standard ASA 550 Related Parties (F2006LO1394) which includes paragraph (numbered 24) with no text due to a typographical error.

The AUASB makes this instrument pursuant to section 227B of the Australian Securities and Investments Commission Act 2001 and section 336 of the Corporations Act 2001.

Process of making Revocation of Auditing Standard ASA 550 Related Parties (F2006LO1394)

In view of the nature of the legal instrument, the process for making of Revocation of Auditing standard ASA 550 Related Parties (F2006L01394) was limited to Board review and approval.

Purpose of Revocation of Auditing Standard ASA 550 Related Parties (F2006LO1394)

The purpose of this legal instrument is to revoke Auditing Standard ASA 550 Related Parties (F2006LO1394) made on 28 April 2006.

Consultation prior to issuing this legal instrument

In view of the nature of this legal instrument – removal of a typographical error – there was no need for public consultation.

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