31386 paragraphs found
Management makes a number of judgements about the amounts and disclosures in the financial report. …
ASA 260 contains a discussion of the qualitative aspects of accounting practices. [20] In considering the qualitative aspects of the entity’s accounting practices, the auditor may become aware of possible bias in management’s judgements. The auditor may …
ASA 540 addresses possible management bias in making accounting estimates. [21] Indicators of possible management bias do not constitute misstatements for purposes of drawing conclusions on the reasonableness of individual accounting estimates. They …
In evaluating whether the financial report appropriately discloses the significant accounting policies selected and applied, the auditor’s consideration includes matters such as: Whether all disclosures related to the significant accounting policies that …
Evaluating the understandability of the financial report includes consideration of such matters as whether: The information in the financial report is presented in a clear and concise manner. The placement of significant disclosures gives appropriate …
If the disagreement is not resolved, the auditor would ordinarily prepare a memorandum of the discussion and seek written confirmation from management and the entity’s legal counsel that it is an accurate record of the discussion. In conjunction with …