31386 paragraphs found
The greater the judgement needed to be exercised in planning and performing the audit procedures and evaluating the audit evidence, the external auditor will need to perform more procedures directly in accordance with paragraph 18 of this Auditing …
Since the external auditor has sole responsibility for the audit opinion expressed, the external auditor needs to make the significant judgements in the audit engagement in accordance with paragraph 18 . Significant judgements include the following: …
For a particular account balance, class of transaction or disclosure, the higher an assessed risk of material misstatement at the assertion level, the more judgement is often involved in planning and performing the audit procedures and evaluating the …
As explained in ASA 315, [20] significant risks are risks assessed close to the upper end of the spectrum of inherent risk and therefore the external auditor’s ability to use the work of the internal audit function in relation to significant risks will …
Carrying out procedures in accordance with this Auditing Standard may cause the external auditor to re-evaluate the external auditor’s assessment of the risks of material misstatement. Consequently, this may affect the external auditor’s determination of …
In accordance with ASA 260, [21] the external auditor is required to communicate with those charged with governance an overview of the planned scope and timing of the audit. The planned use of the work of the internal audit function is an integral part …
Discussion and Co‑ordination with the Internal Audit Function (Ref: Para. 21) …