For the purposes of this Auditing Standard, the following terms have the meanings attributed below: …

Fraud means an intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to obtain an unjust or illegal …

Fraud risk factors means events or conditions that indicate an incentive or pressure to commit fraud or provide an opportunity to commit …

The auditor shall evaluate whether analytical procedures that are performed near the end of the audit, when forming an overall conclusion as to whether the financial report is consistent with the auditor’s understanding of the entity, indicate a …

Fraud, whether fraudulent financial reporting or misappropriation of assets, involves incentive or pressure to commit fraud, a perceived opportunity to do so and some rationalisation of the act.  For example: Incentive or pressure to commit fraudulent …

Maintaining professional scepticism requires an ongoing questioning of whether the information and audit evidence obtained suggests that a material misstatement due to fraud may exist.  It includes considering the reliability of the information to be used …

Discussing the susceptibility of the entity’s financial report to material misstatement due to fraud with the engagement team: Provides an opportunity for more experienced engagement team members to share their insights about how and where the financial …

ASA 330 requires the auditor, based on the audit procedures performed and the audit evidence obtained, to evaluate whether the assessments of the risks of material misstatement at the assertion level remain appropriate. [21]   This evaluation is primarily …

Examples of exceptional circumstances that may arise and that may bring into question the auditor’s ability to continue performing the audit include: The entity does not take the appropriate action regarding fraud that the auditor considers necessary in …

ASA 580 [25] establishes requirements and provides guidance on obtaining appropriate representations from management and, where appropriate, those charged with governance in the audit.  In addition to acknowledging that they have fulfilled their …