444 paragraphs found
Having regard to the requirements and guidance provided in AUASB standards ASA 610 Using the Work of Internal Auditors , ASAE 3000 and ASAE 3150 , as relevant, the appointed auditor obtains an understanding of the activities and main findings of the …
The use of internal auditors to provide direct assistance is prohibited in assurance engagements undertaken in accordance with AUASB Standards. Direct assistance is the performance of assurance procedures under the direction, supervision and review of the …
Where the appointed auditor plans to use the work of the internal audit function, the auditor evaluates the adequacy of this work for the auditor’s purposes in accordance with the relevant AUASB standards. The appointed auditor remains responsible for …
APS 310/3PS 310 requires the appointed auditor to provide two different levels of assurance over the reliability of a specific set of ADI Reporting Forms at the ADI’s financial year-end. The level of assurance required to be provided by the appointed …
“Accounting records”, is defined in paragraph 28(c) of this Guidance Statement and, ordinarily, includes all the data used by an ADI to prepare its accounting books and records, and to report the results of its operations and its financial position in its …
However, the initial books of entry may also comprise other data which is stored alongside accounting data. Such data may not be used for financial management and financial reporting, and may not be subject to rigorous controls, and therefore fall outside …
Data in ADI Reporting Forms may be sourced from systems that are not used to produce financial report information and are not readily reconcilable to financial report information. The initial entries to these systems may be the same as for the accounting …
The appointed auditor makes an assessment of whether or not a data item has been sourced from accounting records, by exercising professional judgement and referring to the definition of accounting records. The auditor carefully considers the source and …
For Advanced ADIs, where the ADI’s risk management systems provide internal estimates for some or all of the risk components in determining capital, the capital reporting forms will include data items sourced from non-accounting records. Examples include …
Certain data items may have been sourced from a combination of both accounting and non-accounting records, for example, data sourced from accounting records that involve additional examination, computation, re-classification or segmentation using …