70 paragraphs found
This Guidance Statement provides guidance to auditors when establishing and agreeing the conditions under which third parties are voluntarily granted access to their audit working papers and related documentation. Such documentation is required to be …
The protocols in this Guidance Statement endeavour to promote cooperation when access to an auditor’s audit working papers is requested. Audit working papers are the auditor’s property, and they may, at their discretion, grant, decline or restrict access …
Regulators may also, pursuant to legislative requirements, request access to audit working papers. When access to audit working papers is required by a regulator, the auditor provides access in accordance with the requirements of the relevant …
For the purposes of this Guidance Statement, the following terms have the meanings attributed below: …
“Auditor” means an individual auditor, audit firm or audit company. [2] Unless specified, auditor refers to an external auditor conducting an audit or review of an entity’s financial report or other financial …
In undertaking an engagement, the auditor might access or incorporate within their audit file confidential communications made between, or confidential documents prepared by, the audit client and their legal counsel(s). When the dominant purpose of these …
Documents or information included in the audit file that are subject to legal professional privilege are owned by the client and not the auditor. When granting access to audit working papers is being contemplated, the auditor needs to consider obtaining …
The following are example communications, documents and information that may attract legal professional privilege: Correspondence between the client and their legal advisers for the dominant purpose of giving or receiving legal advice, or for use in …
If any of the documents or information listed in paragraph 30 above are contained in the audit working papers, or if the auditor is in any doubt about whether any client communications, documents or information are subject to legal professional privilege, …
The auditor of a controlling entity has a duty to form an opinion on various matters as may be required by laws or regulations, such as the Corporations Act 2001 (or other relevant statutory requirements) regarding the consolidated financial report of the …