31386 paragraphs found
Timeliness of Financial Reporting and the Balance between Benefit and Cost …
The matter of difficulty, time, or cost involved is not in itself a valid basis for the auditor to omit an audit procedure for which there is no alternative or to be satisfied with audit evidence that is less than persuasive. Appropriate planning assists …
Consequently, it is necessary for the auditor to: Plan the audit so that it will be performed in an effective manner; Direct audit effort to areas most expected to contain risks of material misstatement, whether due to fraud or error, with …
In light of the approaches described in paragraph A51, the Australian Auditing Standards contain requirements for the planning and performance of the audit and require the auditor, among other things, to: Have a basis for the identification and …
In the case of certain assertions or subject matters, the potential effects of the inherent limitations on the auditor’s ability to detect material misstatements are particularly significant. Such assertions or subject matters include: Fraud, …
Because of the inherent limitations of an audit, there is an unavoidable risk that some material misstatements of the financial report may not be detected, even though the audit is properly planned and performed in accordance with Australian Auditing …
The Australian Auditing Standards, taken together, provide the standards for the auditor’s work in fulfilling the overall objectives of the auditor. The Australian Auditing Standards deal with the general responsibilities of the auditor, as well as the …
The scope, effective date and any specific limitation of the applicability of a specific Auditing Standard is made clear in the Auditing Standard. Unless otherwise stated in the Auditing Standard, the auditor is permitted to apply an Auditing Standard …