31386 paragraphs found
This ASA deals with the auditor’s use of analytical procedures as risk assessment procedures. ASA 520 [24] deals with the auditor's use of analytical procedures as substantive procedures (“substantive analytical procedures”) and the auditor’s …
Analytical procedures can be performed using a number of tools or techniques, which may be automated. Applying automated analytical procedures to the data may be referred to as data analytics. Example: The auditor may use a spreadsheet to perform a …
Observation and Inspection (Ref: Para. 14(c)) Why Observation and Inspection Are Performed as Risk Assessment Procedures …
Observation and inspection may support, corroborate or contradict enquiries of management and others, and may also provide information about the entity and its …
Where policies or procedures are not documented, or the entity has less formalised controls, the auditor may still be able to obtain some audit evidence to support the identification and assessment of the risks of material misstatement through observation …
Risk assessment procedures may include observation or inspection of the following: The entity’s operations. Internal documents (such as business plans and strategies), records, and internal control manuals. Reports prepared by management (such as …