31386 paragraphs found
If the auditor obtains new information which is inconsistent with the audit evidence on which the auditor originally based the identification or assessments of the risks of material misstatement, the auditor shall revise the identification or assessment. …
The auditor shall include in the audit documentation: [13] (Ref: Para. A237–A241) The discussion among the engagement team and the significant decisions reached; Key elements of the auditor’s understanding in accordance with paragraphs 19, 21, 22, 24 …
Categories of assertions are used by auditors to consider the different types of potential misstatements that may occur when identifying, assessing and responding to the risks of material misstatement. Examples of these categories of assertions are …
Controls are embedded within the components of the entity’s system of internal control. …
Policies are implemented through the actions of personnel within the entity, or through the restraint of personnel from taking actions that would conflict with such …
Procedures may be mandated, through formal documentation or other communication by management or those charged with governance, or may result from behaviours that are not mandated but are rather conditioned by the entity’s culture. Procedures may be …
Controls may be direct or indirect. Direct controls are controls that are precise enough to address risks of material misstatement at the assertion level. Indirect controls are controls that support direct …