APES 315 Compilation of Financial Information
The Australian professional standard for compiling financial information without audit or review: ethics and competence, planning, terms of engagement, procedures on misstatements, working papers, client acknowledgement, compilation reports, communication with governance and subsequent discovery of facts.
APES 315 Compilation of Financial Information is a compliance framework from Australia with 5 domains and 15 controls. The largest domains are Reporting on a compilation engagement (section 10) – APES 315 Compilation of Financial Information (5 controls), Communication of significant matters and subsequent discovery of facts (sections 11 and 12) – APES 315 Compilation of Financial Information (3 controls), Fundamental responsibilities and planning (sections 3 to 5) – APES 315 Compilation of Financial Information (3 controls). Every control below carries what it requires and what an assessor expects to see.
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Framework Domains (5)
Communication of significant matters and subsequent discovery of facts (sections 11 and 12) – APES 315 Compilation of Financial Information
| Code | Title |
|---|---|
| apes-315-compilation-of-financial-information::11.1 | Communicate significant matters to those charged with governance |
| apes-315-compilation-of-financial-information::11.3 | Non-compliance with laws and regulations, fraud and illegal acts |
| apes-315-compilation-of-financial-information::12 | Subsequent discovery of facts |
Documentation, quality management and client responsibility (sections 8 and 9) – APES 315 Compilation of Financial Information
| Code | Title |
|---|---|
| apes-315-compilation-of-financial-information::8 | Working papers, reconciliation and review before the report is issued |
| apes-315-compilation-of-financial-information::9 | Obtain the client's written acknowledgement of responsibility |
Fundamental responsibilities and planning (sections 3 to 5) – APES 315 Compilation of Financial Information
| Code | Title |
|---|---|
| apes-315-compilation-of-financial-information::3 | Fundamental responsibilities: the Code, competence, independence statement and confidentiality |
| apes-315-compilation-of-financial-information::4 | Plan the compilation engagement |
| apes-315-compilation-of-financial-information::5 | Applicable financial reporting framework and significant judgements |
Reporting on a compilation engagement (section 10) – APES 315 Compilation of Financial Information
| Code | Title |
|---|---|
| apes-315-compilation-of-financial-information::10.10 | Required content of the compilation report and page markings |
| apes-315-compilation-of-financial-information::10.2 | When a compilation report must be issued |
| apes-315-compilation-of-financial-information::10.3 | Internal-use compilations: accountant's report disclaimer |
| apes-315-compilation-of-financial-information::10.4 | Where another practitioner audits or reviews the compiled information |
| apes-315-compilation-of-financial-information::10.7 | Financial statements prepared under a regulation or contract |
Terms of engagement and procedures (sections 6 and 7) – APES 315 Compilation of Financial Information
| Code | Title |
|---|---|
| apes-315-compilation-of-financial-information::6 | Document and communicate the terms of engagement |
| apes-315-compilation-of-financial-information::7 | Procedures: understand the client, assess the compiled information, respond to misstatements |
What is APES 315 Compilation of Financial Information and who does it apply to?
APES 315 Compilation of Financial Information is a compliance framework from Australia with 5 domains and 15 controls. The Australian professional standard for compiling financial information without audit or review: ethics and competence, planning, terms of engagement, procedures on misstatements, working papers, client acknowledgement, compilation reports, communication with governance and subsequent discovery of facts. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
What does APES 315 Compilation of Financial Information actually require?
APES 315 Compilation of Financial Information has 15 controls organised across 5 domains. The largest domains are Reporting on a compilation engagement (section 10) – APES 315 Compilation of Financial Information (5 controls), Communication of significant matters and subsequent discovery of facts (sections 11 and 12) – APES 315 Compilation of Financial Information (3 controls), Fundamental responsibilities and planning (sections 3 to 5) – APES 315 Compilation of Financial Information (3 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
If I already comply with another framework, how much of APES 315 Compilation of Financial Information do I already cover?
APES 315 Compilation of Financial Information does not currently have cross-framework mappings in our system. Check back as we continuously expand our mapping database.
How do I implement APES 315 Compilation of Financial Information?
Start your APES 315 Compilation of Financial Information compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about APES 315 Compilation of Financial Information requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 15 controls and track your progress.
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