55 paragraphs found
Under ASA 810, paragraph 8 , the auditor is required to perform specified procedures. Furthermore, the auditor is required to perform additional procedures that the auditor considers necessary as the basis for the auditor’s opinion (on the concise …
As the inclusion of discussion and analysis is not required in the financial report for the year of some entities reporting under the Act, the audit of a concise financial report will include procedures to enable the auditor to reach a conclusion on the …
These procedures may include, a recalculation of ratios and/or trend analyses which have been included in the discussion and analysis; and ensuring that these disclosures are consistent with the information in the financial report for the …
Whilst AASB 1039 requires that the financial statements and the specific disclosures in a concise financial report be consistent with the financial report for the year of the entity, it is recognised that because of the nature of discussion and analysis, …
In such circumstances, the auditor selects and applies appropriate procedures to be able to reach a conclusion on the discussion and analysis and evaluates the results of such procedures when forming an opinion on whether the discussion and analysis …
Where information of a subjective and/or prospective nature is included in the discussion and analysis, either to comment on, or to augment the entity’s financial statements forming part of the concise financial report (for example, a discussion of the …
Under ASA 200 , the auditor exercises professional judgement in assessing the inclusion of such information in the discussion and analysis. If the auditor considers that this information is overly subjective and/or prospective in nature, and/or that it is …
In view of the matters discussed above, it is generally important that the auditor ascertains from the directors (those charged with governance), at an early stage in the audit, the extent and nature of the discussion and analysis that they intend to …
In ascertaining the extent and nature of the discussion and analysis at an early stage the auditor seeks to avert any difficulties which might otherwise arise with regard to the inclusion of such information. The directors (those charged with governance) …
Given that the Act does not require a directors’ declaration to be included in the concise report, prior to issuing the auditor’s report, under ASA 580 Written Representations , the auditor obtains a written representation from the entity’s directors …