71 paragraphs found
In principle, compliance with the requirements of this Auditing Standard will result in the audit documentation being sufficient and appropriate in the circumstances. Other Australian Auditing Standards contain specific documentation requirements that …
Audit documentation provides evidence that the audit complies with the Australian Auditing Standards. However, it is neither necessary nor practicable for the auditor to document every matter considered, or professional judgement made, in an audit. …
See ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment , paragraph 10 …
Judging the significance of a matter requires an objective analysis of the facts and circumstances. Examples of significant matters include: Matters that give rise to significant risks (as defined in ASA 315). [6] Results of audit procedures indicating …
The documentation requirement applies only to requirements that are relevant in the circumstances. A requirement is not relevant [10] only in the cases where: The entire Auditing Standard is not relevant (for example, if an entity does not have an …
Examples of exceptional circumstances include facts which become known to the auditor after the date of the auditor’s report but which existed at that date and which, if known at that date, might have caused the financial report to be amended or the …
ASQC 1 requires firms to establish policies and procedures for the timely completion of the assembly of audit files. [14] An appropriate time limit within which to complete the assembly of the final audit file is ordinarily not more than 60 days after …