89 paragraphs found
Management maintains such internal control as it determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. Internal control, no matter how effective, can provide an …
An independent audit conducted in accordance with the Australian Auditing Standards does not act as a substitute for the maintenance of internal control necessary for the preparation of the financial report by management. Accordingly, the auditor is …
See ASA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment , paragraph A54 …
In the paragraphs that follow, any reference to an audit engagement letter is to be taken as a reference to an audit engagement letter or other suitable form of written …
See ASA 701 Communicating Key Audit Matters in the Independent Auditor’s Report . …
As defined in ASA 720 The Auditor’s Responsibilities Relating to Other Information . …
In order to establish whether the preconditions for an audit are present, the auditor shall: Determine whether the financial reporting framework to be applied in the preparation of the financial report is acceptable; and (Ref: Para. A2‑A10) Obtain the …