When obtaining an understanding of the entity and its environment, including the entity’s internal control, as required by ASA 315, [8]  the auditor shall obtain an understanding of the following matters related to the entity’s accounting estimates. The …

The auditor shall review the outcome of previous accounting estimates, or, where applicable, their subsequent re‑estimation to assist in identifying and assessing the risks of material misstatement in the current period. The auditor shall take into …

With respect to accounting estimates, the auditor shall determine whether the engagement team requires specialised skills or knowledge to perform the risk assessment procedures, to identify and assess the risks of material misstatement, to design and …

In identifying and assessing the risks of material misstatement relating to an accounting estimate and related disclosures at the assertion level, as required by ASA 315, [9]  the auditor shall separately assess inherent risk and control risk. The auditor …

The auditor shall determine whether any of the risks of material misstatement identified and assessed in accordance with paragraph 16 are, in the auditor’s judgement, a significant risk. [10]  If the auditor has determined that a significant risk exists, …

As required by ASA 330, [12] the auditor’s further audit procedures shall be responsive to the assessed risks of material misstatement at the assertion level, [13] considering the reasons for the assessment given to those risks. The auditor’s further …

As required by ASA 330, [15] the auditor shall design and perform tests to obtain sufficient appropriate audit evidence as to the operating effectiveness of relevant controls, if: The auditor’s assessment of risks of material misstatement at the assertion …

For a significant risk relating to an accounting estimate, the auditor’s further audit procedures shall include tests of controls in the current period if the auditor plans to rely on those controls. When the approach to a significant risk consists only …

Obtaining Audit Evidence from Events Occurring up to the Date of the Auditor’s Report …

When the auditor’s further audit procedures include obtaining audit evidence from events occurring up to the date of the auditor’s report, the auditor shall evaluate whether such audit evidence is sufficient and appropriate to address the risks of …