31386 paragraphs found
In certain circumstances, audit evidence obtained from previous audits may provide audit evidence where the auditor performs audit procedures to establish its continuing relevance. For example, in performing a previous audit, the auditor may have …
Controls that have changed from previous audits (Ref: Para. 14(a)) …
Changes may affect the relevance of the audit evidence obtained in previous audits such that there may no longer be a basis for continued reliance. For example, changes in a system that enable an entity to receive a new report from the system probably do …
Controls that have not changed from previous audits (Ref: Para. 14(b)) …
The auditor’s decision on whether to rely on audit evidence obtained in previous audits for controls that: have not changed since they were last tested; and are not controls that mitigate a significant risk, is a matter of professional judgement. In …
In general, the higher the risk of material misstatement, or the greater the reliance on controls, the shorter the time period elapsed, if any, is likely to be. Factors that may decrease the period for retesting a control, or result in not relying on …
When there are a number of controls for which the auditor intends to rely on audit evidence obtained in previous audits, testing some of those controls in each audit provides corroborating information about the continuing effectiveness of the control …
Evaluating the Operating Effectiveness of Controls (Ref: Para. 16-17) …
A material misstatement detected by the auditor’s procedures is a strong indicator of the existence of a significant deficiency in internal …