31386 paragraphs found
Because the effect on a financial report of laws and regulations can vary considerably, written representations provide necessary audit evidence about management’s knowledge of identified or suspected non‑compliance with laws and regulations, whose …
Indications of Non‑Compliance with Laws and Regulations (Ref: Para. 19 ) …
The auditor may become aware of information concerning an instance of non‑compliance with laws and regulations other than as a result of performing the procedures in paragraphs 13–17 (e.g., when the auditor is alerted to non‑compliance by a whistle …
The following matters may be an indication of non‑compliance with laws and regulations: Investigations by regulatory organisations and government departments or payment of fines or penalties. Payments for unspecified services or loans to consultants, …
Matters relevant to the auditor’s evaluation of the possible effect on the financial report include: The potential financial consequences of identified or suspected non‑compliance with laws and regulations on the financial report including, for example, …
Audit Procedures and Communicating Identified or Suspected Non‑Compliance with Management and Those Charged with Governance (Ref: Para. 20 …
The auditor is required to discuss the suspected non‑compliance with the appropriate level of management and, where appropriate, those charged with governance, as they may be able to provide additional audit evidence. For example, the auditor may confirm …
Risks of material misstatement at the assertion level are assessed in order to determine the nature, timing, and extent of further audit procedures necessary to obtain sufficient appropriate audit evidence. This evidence enables the auditor to express an …
The risks of material misstatement at the assertion level consist of two components: inherent risk and control risk. Inherent risk and control risk are the entity’s risks; they exist independently of the audit of the financial …