31386 paragraphs found
A type 2 report may be intended to satisfy the needs of several different user auditors; therefore tests of controls and results described in the service auditor’s report may not be relevant to assertions that are significant in the user entity’s …
If a service organisation uses a subservice organisation, the service auditor’s report may either include or exclude the subservice organisation’s relevant control objectives and related controls in the service organisation’s description of its system and …
A service organisation may be required under the terms of the contract with user entities to disclose to affected user entities any fraud, non‑compliance with laws and regulations or uncorrected misstatements attributable to the service organisation’s …
When a user auditor is unable to obtain sufficient appropriate audit evidence regarding the services provided by the service organisation relevant to the audit of the user entity’s financial report, a limitation on the scope of the audit exists. This may …
Misstatements may result from: An inaccuracy in gathering or processing data from which the financial report is prepared; An omission of an amount or disclosure, including inadequate or incomplete disclosures, and those disclosures required to meet …
Paragraph 5 of this Auditing Standard requires the auditor to accumulate misstatements identified during the audit other than those that are clearly trivial. “Clearly trivial” is not another expression for “not material.” Misstatements that are clearly …
A misstatement may not be an isolated occurrence. Evidence that other misstatements may exist include, for example, where the auditor identifies that a misstatement arose from a breakdown in internal control or from inappropriate assumptions or valuation …
Timely communication of misstatements to the appropriate level of management is important as it enables management to evaluate whether the classes of transactions, account balances and disclosures are misstated, inform the auditor if it disagrees, and …