71 paragraphs found
See ASA 250 Consideration of Laws and Regulations in an Audit of a Financial Report , paragraph 9 . …
If information to be used as audit evidence has been prepared using the work of a management’s expert, the auditor shall, to the extent necessary, having regard to the significance of that expert’s work for the auditor’s purposes: (Ref: Para. A45‑A47) …
When designing tests of controls and tests of details, the auditor shall determine means of selecting items for testing that are effective in meeting the purpose of the audit procedure. …
Observation consists of looking at a process or procedure being performed by others, for example, the auditor’s observation of inventory counting by the entity’s personnel, or of the performance of controls. Observation provides audit evidence about the …
Aspects of the management’s expert’s field relevant to the auditor’s understanding may include: Whether that expert’s field has areas of specialty within it that are relevant to the audit. Whether any professional or other standards, and regulatory or …
Information regarding the competence, capabilities and objectivity of a management’s expert may come from a variety of sources, such as: Personal experience with previous work of that expert. Discussions with that expert. Discussions with others who …
The auditor may decide that it will be most appropriate to examine the entire population of items that make up a class of transactions or account balance (or a stratum within that population). 100% examination is unlikely in the case of tests of …
When using information produced by the entity, the auditor shall evaluate whether the information is sufficiently reliable for the auditor’s purposes, including as necessary in the circumstances: Obtaining audit evidence about the accuracy and …
External information source means an external individual or organisation that provides information that has been used by the entity in preparing the financial report, or that has been obtained by the auditor as audit evidence, when such information is …