31386 paragraphs found
If attendance at physical inventory counting is impracticable, the auditor shall perform alternative audit procedures to obtain sufficient appropriate audit evidence regarding the existence and condition of inventory. If it is not possible to do so, the …
If inventory under the custody and control of a third party is material to the financial report, the auditor shall obtain sufficient appropriate audit evidence regarding the existence and condition of that inventory by performing one or both of the …
[Deleted by the AUASB. Refer ASA 502 Audit Evidence—Specific Considerations for Litigation and Claims ] …
The auditor shall obtain sufficient appropriate audit evidence regarding the presentation and disclosure of segment information in accordance with the applicable financial reporting framework by: (Ref: Para . A26 ) Obtaining an understanding of the …
See ASA 705 Modifications to the Opinion in the Independent Auditor’s Report . …
Management ordinarily establishes procedures under which inventory is physically counted at least once a year to serve as a basis for the preparation of the financial report and, if applicable, to ascertain the reliability of the entity’s perpetual …
Attendance at physical inventory counting involves: Inspecting the inventory to ascertain its existence and evaluate its condition, and performing test counts; Observing compliance with management’s instructions and the performance of procedures for …
Matters relevant in planning attendance at physical inventory counting (or in designing and performing audit procedures pursuant to paragraphs 4-8 of this Auditing Standard) include, for example: The risks of material misstatement related to inventory. …
Evaluate Management’s Instructions and Procedures (Ref: Para. 4(a)(i) ) …