49 paragraphs found
See ASA 701 Communicating Key Audit Matters in the Independent Auditor’s Report . …
See ASA 220 Quality Control for an Audit of a Financial Report and Other Historical Financial Information , paragraphs 15-17 . …
ASQC 1 requires firms to establish policies and procedures for the retention of engagement documentation. [16] The retention period for audit engagements ordinarily is no shorter than five years from the date of the auditor’s report, or, if later, the …
Where, in rare and exceptional circumstances, factors outside the auditor’s control prevent the auditor from complying with an essential procedure contained within a relevant requirement, the auditor shall document: (Ref: Para. A18‑A19) The circumstances …
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 …
See ASQC 1 Quality Control for Firms that Perform Audits and Reviews of Financial Reports and Other Financial Information, Other Assurance Engagements and Related Services Engagements , paragraphs 32-33 , 35-38 and 48 …
Recording the identifying characteristics serves a number of purposes. For example, it enables the engagement team to be accountable for its work and facilitates the investigation of exceptions or inconsistencies. Identifying characteristics will vary …