25 paragraphs found
To make the external confirmation process more efficient and effective, auditors and banks have been increasingly relying on new technologies to facilitate the bank confirmation process. ASA 505 does not preclude the use of an electronic confirmation …
ASA 220 Quality Management for an Audit of a Financial Report and Other Historical Financial Information addresses the engagement partner’s responsibility to use the resources provided by the firm, including technological resources. …
On its own, an oral response to a bank confirmation request does not meet the definition of an external confirmation because it is not a direct written response to the auditor in paper form or by electronic or other medium [20] . However, upon obtaining …
This Guidance Statement provides supplementary guidance for auditors in meeting their responsibilities in ASA 505 External Confirmations where the auditor has determined, in accordance with ASA 330 The Auditor’s Responses to Assessed Risks , that external …
ASA 330 requires the auditor to design and implement overall responses to address the risks of material misstatement identified and assessed by the auditor in accordance with ASA 315 Identifying and Assessing the Risks of Material Misstatement in an audit …