AASB 107 Statement of Cash Flows for Auditors
What does AASB 107 Statement of Cash Flows require of a Auditor?
The Australian adoption of IAS 7: the duty to present a statement of cash flows, what counts as cash and cash equivalents, classification into operating, investing and financing activities, the direct and indirect methods, gross versus net reporting, foreign currency, interest, dividends and tax flows, business acquisitions and disposals, non-cash transactions, and the disclosures of financing liability movements, supplier finance arrangements, cash components and restricted balances, with the 2027 AASB 18 and 2028 AASB 2026-4 changes noted on the affected leaves. Under AASB 107 Statement of Cash Flows, which defines 22 controls, a Auditor's work is deciding which controls you own outright, which you share and which belong to another team, then holding the evidence for the first group.
Which AASB 107 Statement of Cash Flows controls land on the Auditor
Internal Auditors assess whether compliance controls are operating effectively. They plan and execute audit engagements, evaluate evidence, report findings, and track remediation of identified gaps and nonconformities.
AASB 107 Statement of Cash Flows defines 22 controls across 5 domains that directly affect the Auditor role. Understanding which controls fall within your ownership, which are shared, and which are owned by other teams is the foundation of effective compliance management.
What a Auditor is accountable for under AASB 107 Statement of Cash Flows
Planning and executing risk-based audit engagements against compliance frameworks
Evaluating control design and operating effectiveness through testing
Documenting findings, observations, and recommendations in audit reports
Tracking remediation actions and verifying closure of audit findings
Assessing organisational readiness for external audits and certifications
Where Auditors lose time on AASB 107 Statement of Cash Flows
These are the most common obstacles Auditors face when managing AASB 107 Statement of Cash Flows compliance, and how to address them:
Challenge 1
Efficiently testing controls across large, complex frameworks
Challenge 2
Accessing reliable evidence without disrupting business operations
Challenge 3
Mapping controls across multiple frameworks to avoid duplicate audit testing
Challenge 4
Keeping audit programmes current with regulatory and framework changes
Challenge 5
Communicating audit findings in a way that drives management action
A working order for a Auditor starting on AASB 107 Statement of Cash Flows
1. Readiness Assessment
Take a 5-minute readiness assessment to identify your organisation's current gap profile against AASB 107 Statement of Cash Flows. Get a prioritised action plan tailored to your specific situation.
2. Cross-Framework Mapping
Use our platform to map AASB 107 Statement of Cash Flows controls against other frameworks you already comply with. Identify overlapping controls to reduce duplicate effort.
3. Build Your Toolkit
Equip yourself with AASB 107 Statement of Cash Flows toolkits, self-assessments, and implementation guides from our store. Resources designed specifically for Auditors managing compliance programmes.
4. Continuous Monitoring
Establish ongoing compliance monitoring using our platform's gap analysis tools. Track your maturity over time and demonstrate progress to stakeholders.
AASB 107 Statement of Cash Flows in your sector
Who else owns part of AASB 107 Statement of Cash Flows
Questions Auditors ask about AASB 107 Statement of Cash Flows
What does a Auditor need to know about AASB 107 Statement of Cash Flows?
How does AASB 107 Statement of Cash Flows affect the Auditor role?
What are the biggest AASB 107 Statement of Cash Flows challenges for Auditors?
How should a Auditor prepare for a AASB 107 Statement of Cash Flows audit?
What tools help Auditors manage AASB 107 Statement of Cash Flows compliance?
Auditor: How ready is your organisation for AASB 107 Statement of Cash Flows?
Answer 25 questions and get a professional readiness report with gap analysis, maturity scores, and prioritised action items. Results in 5 minutes.