50 paragraphs found
The user auditor is required to communicate in writing significant deficiencies identified during the audit to both management and those charged with governance on a timely basis. [12] The user auditor is also required to communicate to management at an …
The nature and extent of work to be performed by the user auditor regarding the services provided by a service organisation depend on the nature and significance of those services to the user entity and the relevance of those services to the …
… the user auditor’s responsibility under the Australian Auditing Standards to obtain sufficient appropriate audit …
Examples of service organisation services that are relevant to the audit include: Maintenance of the user entity’s accounting records. Management of assets. Initiating, recording or processing transactions as agent of the user …
The user auditor is required by ASA 330 [11] to design and perform tests of controls to obtain sufficient appropriate audit evidence as to the operating effectiveness of controls in certain circumstances. In the context of a service organisation, this …
If the service auditor’s testing period is completely outside the user entity’s financial reporting period, the user auditor will be unable to rely on such tests for the user auditor to conclude that the user entity’s controls are operating effectively …
Many entities outsource aspects of their business to organisations that provide services ranging from performing a specific task under the direction of an entity to replacing an entity’s entire business units or functions, such as the tax compliance …
Knowledge obtained through the user auditor’s experience with the service organisation, for example through experience with other audit engagements, may also be helpful in obtaining an understanding of the nature of the services provided by the service …
In determining the nature and extent of audit evidence to be obtained in relation to balances representing assets held or transactions undertaken by a service organisation on behalf of the user entity, the following procedures may be considered by the …
The user auditor shall not refer to the work of a service auditor in the user auditor’s report containing an unmodified opinion unless required by law or regulation to do so. If such reference is required by law or regulation, the user auditor’s report …