31386 paragraphs found
Assumptions relating to accounting estimates that are made or identified by a management’s expert become management’s assumptions when used by management in making an accounting estimate. Accordingly, the auditor applies the relevant requirements in this …
If the work of a management’s expert involves the use of methods or sources of data relating to accounting estimates, or developing or providing findings or conclusions relating to a point estimate or related disclosures for inclusion in the financial …
Management bias may be difficult to detect at an account level and may only be identified by the auditor when considering groups of accounting estimates, all accounting estimates in aggregate, or when observed over a number of accounting periods. For …
Examples of indicators of possible management bias with respect to accounting estimates include: Changes in an accounting estimate, or the method for making it, when management has made a subjective assessment that there has been a change in …
Indicators of possible management bias may affect the auditor’s conclusion as to whether the auditor’s risk assessment and related responses remain appropriate. The auditor may also need to consider the implications for other aspects of the audit, …
In addition, in applying ASA 240, the auditor is required to evaluate whether management’s judgements and decisions in making the accounting estimates included in the financial report indicate a possible bias that may represent a material misstatement due …
As the auditor performs planned audit procedures, the audit evidence obtained may cause the auditor to modify the nature, timing or extent of other planned audit procedures. [57] In relation to accounting estimates, information may come to the auditor’s …