117 paragraphs found
… procedures in addition to those required by the Australian Auditing Standards. …
The auditor is not expected to, and cannot, reduce audit risk to zero and cannot therefore obtain absolute assurance that the financial report is free from material misstatement due to fraud or error. This is because there are inherent limitations of an …
… oversight from those charged with governance. Australian Auditing Standards do not impose responsibilities on … However, an audit in accordance with Australian Auditing Standards is conducted on the premise that …
Audit risk means the risk that the auditor expresses an inappropriate audit opinion when the financial report is materially misstated. Audit risk is a function of the risks of material misstatement and detection …
Professional judgement needs to be exercised throughout the audit. It also needs to be appropriately documented. In this regard, the auditor is required to prepare audit documentation sufficient to enable an experienced auditor, having no previous …
Risks of material misstatement at the assertion level are assessed in order to determine the nature, timing, and extent of further audit procedures necessary to obtain sufficient appropriate audit evidence. This evidence enables the auditor to express an …
… An Auditing Standard may include, in a separate section under … attributed to certain terms for purposes of the Australian Auditing Standards. These are provided to assist in the … consistent application and interpretation of the Australian Auditing Standards, and are not intended to override …
… The auditor shall not represent compliance with Australian Auditing Standards in the auditor’s report unless the auditor has complied with the requirements of this Auditing Standard and all other Australian Auditing Standards relevant to the audit. (Ref: Para. Aus …
… This Auditing Standard applies to: an audit of a financial report …
Audit risk is a function of the risks of material misstatement and detection risk. The assessment of risks is based on audit procedures to obtain information necessary for that purpose and evidence obtained throughout the audit. The assessment of risks …