70 paragraphs found
When the internal audit function of an entity is outsourced to an internal audit provider, or where personnel from the internal audit provider are seconded to an internal audit client, and the audit working papers belong to the internal audit provider, …
An auditor is required to produce, or give access to their audit working papers when: legally requested to do so pursuant to the issue of a subpoena, search warrant or court order or pursuant to discovery obligations during court proceedings; or required …
Regulators may seek to access an auditor’s audit working papers when, for example, they are undertaking: an investigation of an alleged or suspected contravention of the relevant legislation by the auditor’s client; or compliance-related surveillance …
If under the relevant legislation regulatory authorities seek access to audit working papers, the auditor’s statutory obligations under normal circumstances will override common law or professional responsibilities to respect the confidentiality of the …
When a regulator requests an auditor to provide access to their audit working papers, the request is normally made on a formal basis, by issuing a written notice under the legislation. The notice typically sets out for example, the nature of the matter to …
The base level financial requirements (refer paragraph 18 ) and other financial requirement conditions, as set out in ASIC Pro Forma 209 (PF 209), do not apply, but FS70 and FS71 are still required to be lodged with ASIC, if the Licensee is either: inform …
A recently appointed auditor (successor auditor) of an entity which requires an audit in accordance with the Act has a statutory responsibility to report on the financial report of the entity in the year of appointment pursuant to the provisions of the …
Where the predecessor auditor agrees to provide the successor auditor access to the auditor’s audit working papers, such access ordinarily involves an exchange of letters between the two auditors. Example Letter E in Appendix 1sets out the matters …
There is no equivalent International Auditing Practice Statement (IAPS) to this Guidance Statement. …
Auditing Standard ASA 230 Audit Documentation ( paragraph 11 ) requires an auditor to prepare audit documentation that will enable an experienced auditor, having no previous connection with the audit, to understand: (a) the nature, timing and extent of …