170 paragraphs found
This Guidance Statement is issued by the Auditing and Assurance Standards Board (AUASB) on 30 June 2015. …
Table 1 : Practical Application Issues Addressed in this Guidance Statement Part Issues Paragraphs A Clarifying engagement mandates that are unclear and/or defined in out‑dated terms. 32-41 B Addressing engagements where the required scope includes a …
Detailed guidance on these issues is provided at the paragraph references above and in the Appendices. …
Prescribed procedures may be considered by the relevant party to be necessary to meet a specified assurance objective. For example: In the audit guidance material [29] issued by the Department of Social Services, the Regulator sets out its expectations of …
When prescribed scopes and/or procedures are a prerequisite to a SSGA or MSE, the auditor: Preserves the auditor’s independence and professional judgement in determining the extent, timing and scope of audit procedures—a fundamental principle underpinning …
The auditor does not accept the engagement, unless required to by law or regulation, if the auditor is unable to meet the prescribed scopes and/or procedures. This situation may arise, for example, where the auditor’s independence will be compromised, the …
Prescribed procedures, on the other hand, may not be considered by the relevant party as necessary to meet a specified assurance objective. Consequently, prescribed procedures are treated as agreed-upon procedures with factual findings reported …
Where the auditor is required by law or regulation to accept an engagement that the auditor would otherwise not accept, the auditor considers the guiding principles described at paragraphs 47 and 69 …
When considering how to address the additional engagement, the auditor follows the requirements in the relevant AUASB Standards with respect to: Acceptance – including preconditions, agreeing terms, any additional fees and an engagement letter; Planning – …
Where any such engagements are identified at the acceptance stage of the financial report audit, the auditor considers the potential for concurrent work and plans …