31386 paragraphs found
Identifying and Assessing Risks of Material Misstatement at the Financial Report Level …
Risks of material misstatement at the financial report level refer to risks that relate pervasively to the financial report as a whole, and potentially affect many assertions. Risks of this nature are not necessarily risks identifiable with specific …
The auditor’s identification and assessment of risks of material misstatement at the financial report level is influenced by the auditor’s understanding of the entity’s system of internal control, in particular the auditor’s understanding of the control …
Risks of material misstatement due to fraud may be particularly relevant to the auditor’s consideration of the risks of material misstatement at the financial report level. Example: The auditor understands from enquiries of management that the entity’s …
The auditor’s understanding, including the related evaluations, of the control environment and other components of the system of internal control may raise doubts about the auditor’s ability to obtain audit evidence on which to base the audit opinion or …
ASA 705 [51] establishes requirements and provides guidance in determining whether there is a need for the auditor to express a qualified opinion or disclaim an opinion or, as may be required in some cases, to withdraw from the engagement where withdrawal …
For public sector entities, the identification of risks at the financial report level may include consideration of matters related to the political climate, public interest and program …
Risks of Material Misstatement at the Assertion Level (Ref: Para. 28(b)) Appendix 2 sets out examples, in the context of inherent risk factors, of events or conditions that may indicate susceptibility to misstatement that may be material. …
Risks of material misstatements that do not relate pervasively to the financial report are risks of material misstatement at the assertion …