31386 paragraphs found
Audit risk is a function of the risk of material misstatement of the financial report and the risk that the auditor will not detect such misstatements. [2] In a group audit, this includes the risk that the component auditor may not detect a misstatement …
See ASA 220 Quality Control for an Audit of a Financial Report , paragraphs 14 and 15 . …
See ASA 200 Overall Objectives of the Independent Auditor, and the Conduct of an Audit in Accordance with Australian Auditing Standards , paragraph A32 …
It is the responsibility of management, with the oversight of those charged with governance, to ensure that the entity’s operations are conducted in accordance with laws and regulations. Laws and regulations may affect an entity’s financial report in …
Acts of non‑compliance with laws and regulations include transactions entered into by, or in the name of, the entity, or on its behalf, by those charged with governance, by management or by other individuals working for or under the direction of the …
The auditor’s documentation of findings regarding identified or suspected non‑compliance with laws and regulations may include, for example: Copies of records or documents. Minutes of discussions held with management, those charged with governance or …
The group engagement partner is responsible for the direction, supervision and performance of the group audit engagement in compliance with professional standards and applicable legal and regulatory requirements, and whether the auditor’s report that is …
In applying ASA 220, the group engagement partner shall determine whether sufficient appropriate audit evidence can reasonably be expected to be obtained in relation to the consolidation process and the financial information of the components on which to …
If the group engagement partner concludes that: it will not be possible for the group engagement team to obtain sufficient appropriate audit evidence due to restrictions imposed by group management; and the possible effect of this inability will result …