81 paragraphs found
When evaluating the operating effectiveness of relevant controls, the auditor shall evaluate whether misstatements that have been detected by substantive procedures indicate that controls are not operating effectively. The absence of misstatements …
In addition, the auditor may design a test of controls to be performed concurrently with a test of details on the same transaction. Although the purpose of a test of controls is different from the purpose of a test of details, both may be accomplished …
In addition, certain audit procedures can be performed only at or after the period end, for example: Agreeing or reconciling information in the financial report with the underlying accounting records, including whether such information is obtained from …
In some cases, as discussed in ASA 315, the auditor may find it impossible to design effective substantive procedures that by themselves provide sufficient appropriate audit evidence at the assertion level. [3] This may occur when an entity conducts its …
The auditor shall perform audit procedures to evaluate whether the overall presentation of the financial report, is in accordance with the applicable financial reporting framework. In making this evaluation, the auditor shall consider whether the …
If substantive procedures are performed at an interim date, the auditor shall cover the remaining period by performing: substantive procedures, combined with tests of controls for the intervening period; or if the auditor determines that it is …
The auditor’s substantive procedures shall include the following audit procedures related to the financial report closing process: Agreeing or reconciling information in the financial report with the underlying accounting records, including agreeing or …
Because of the inherent consistency of IT processing, it may not be necessary to increase the extent of testing of an automated control. An automated control can be expected to function consistently unless the program (including the tables, files, or …