218 paragraphs found
… Audit risks to be considered in relation to auditing revenue may include: revenue is recognised before …
Assisting an audit client in the preparation of accounting records or financial statements will create a self-review threat when those records and financial statements are subsequently audited by the same firm. Such services are prohibited unless they are …
If audit procedures do not result in sufficient appropriate audit evidence concerning opening balances, ASA 510 requires that the auditor’s report is modified. This would be a Part A qualification. Further guidance on modifications to the auditor’s report …
… Audit risks to be considered in relation to auditing liabilities may include, but are not limited to: …
The auditor obtains a sufficient understanding of the SMSF and its environment, including its internal control, to identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, and the risk of …
… into English. This facilitates more efficient and effective auditing and quality control. …
ASA 560 requires the auditor to apply audit procedures designed to obtain sufficient appropriate audit evidence that all events up to the date of the auditor’s report that may require adjustment of, or disclosure in, the financial report have been …
… The audit assertions for auditing a SMSF’s cash and cash equivalents are: Existence – …
It is not the role of the auditor to value the assets. The role of the auditor is to check that assets have been reported at market value, and assess and document whether the basis of establishing market value is reasonable and the valuation is reasonable …
In general, it is likely to be cost prohibitive for a SMSF auditor to undertake assurance procedures directly of an IDPS control environment. Where appropriate the SMSF auditor obtains the ASIC Class Order CO 13/763 auditor’s report and applying …