31386 paragraphs found
Financial reporting frameworks often contain requirements for the accounting for, and disclosure of, changes in accounting policies. Where the entity has changed its selection of significant accounting policies, a material misstatement of the financial …
In relation to the application of the selected accounting policies, material misstatements of the financial report may arise: When management has not applied the selected accounting policies consistently with the financial reporting framework, including …
Appropriateness or Adequacy of Disclosures in the Financial Report …
In relation to the appropriateness or adequacy of disclosures in the financial report, material misstatements of the financial report may arise when: The financial report does not include all of the disclosures required by the applicable financial …
Nature of an Inability to Obtain Sufficient Appropriate Audit Evidence (Ref: Para. 6(b)) …
The auditor’s inability to obtain sufficient appropriate audit evidence (also referred to as a limitation on the scope of the audit) may arise from: Circumstances beyond the control of the entity; Circumstances relating to the nature or timing of the …
An inability to perform a specific procedure does not constitute a limitation on the scope of the audit if the auditor is able to obtain sufficient appropriate audit evidence by performing alternative procedures. If this is not possible, the requirements …
Examples of circumstances beyond the control of the entity include when: The entity’s accounting records have been destroyed. The accounting records of a significant component have been seized indefinitely by governmental …
Examples of circumstances relating to the nature or timing of the auditor’s work include when: The entity is required to use the equity method of accounting for an associated entity, and the auditor is unable to obtain sufficient appropriate audit …