130 paragraphs found
ASA 315 [18] contains information that the auditor may find helpful when obtaining an understanding of the entity and its environment, including its internal controls, to provide a basis for the identification and assessment of the risks of material …
In gaining an understanding of the entity and its environment, the auditor can draw on knowledge gained as part of the annual financial statement audit, however this understanding needs to be updated and broadened to address the subject matters included …
In planning the reasonable assurance sections of the engagement, the auditor will usually conduct the following procedures in obtaining that increased understanding and assessing risk: enquiries, analytical procedures, observation, inspection and …
For the limited assurance sections of the engagement the auditor does not normally develop the depth of understanding of internal controls in relation to those areas, as is required in a reasonable assurance engagement, and gaining an understanding may be …
The auditor of the Licensee may consider: Key responsibilities and risks identified by the Licensee; Reliability and processes of reporting systems established by the Licensee to implement the licence conditions; and Adequacy of processes and systems …
In planning the assurance engagement and in assessing risk, the auditor considers matters including: The licence conditions. The nature and extent of any recent changes to the licence conditions and whether any detected breaches are deemed to be …
The auditor designs and performs further assurance procedures which are responsive to the assessed risks of material misstatement, material compliance breach or deficiency in controls. In obtaining reasonable assurance, the auditor chooses a combination …
ASAE 3000 clearly differentiates between the objectives of a limited versus a reasonable assurance engagement and provides detail around the sufficiency of audit evidence on which to base conclusions. The nature, timing and extent of evidence gathering …
Although procedures in a limited assurance engagement will be more limited in nature, timing and extent than for a reasonable assurance engagement, ASAE 3000 , ASAE 3100 and ASAE 3150 require additional procedures to be conducted if the auditor becomes …
In a reasonable assurance engagement, procedures may include tests of controls as well as substantive testing. When conducting a reasonable assurance engagement, if the auditor is able to obtain evidence that the controls they wish to rely on are …