31386 paragraphs found
The procedures undertaken to understand the entity’s measures may vary depending on the size or complexity of the entity, as well as the involvement of owners or those charged with governance in the management of the entity. Examples: For some less …
External parties may also review and analyse the entity’s financial performance, in particular for entities where financial information is publicly available. The auditor may also consider publicly available information to help the auditor further …
The measurement and review of financial performance is not the same as the monitoring of the system of internal control (discussed as a component of the system of internal control in paragraphs A114–A122) , though their purposes may overlap: The …
In addition to considering relevant measures used by a public sector entity to assess the entity’s financial performance, auditors of public sector entities may also consider nonfinancial information such as achievement of public benefit outcomes (for …
The Applicable Financial Reporting Framework (Ref: Para. 19(b)) Understanding the Applicable Financial Reporting Framework and the Entity’s Accounting …
Matters that the auditor may consider when obtaining an understanding of the entity’s applicable financial reporting framework, and how it applies in the context of the nature and circumstances of the entity and its environment include: The entity’s …
Obtaining an understanding of the entity and its environment may assist the auditor in considering where changes in the entity’s financial reporting (e.g., from prior periods) may be expected. Example: If the entity has had a significant business …