71 paragraphs found
Misstatement means a difference between the reported amount, classification, presentation, or disclosure of a financial report item and the amount, classification, presentation, or disclosure that is required for the item to be in accordance with the …
Uncorrected misstatements means misstatements that the auditor has accumulated during the audit and that have not been corrected. …
This Auditing Standard deals with the auditor’s responsibility to evaluate the effect of identified misstatements on the audit and of uncorrected misstatements, if any, on the financial report. ASA 700 deals with the auditor’s responsibility, in forming …
See ASA 700 Forming an Opinion and Reporting on a Financial Report , paragraphs 10‑11 . …
The auditor shall accumulate misstatements identified during the audit, other than those that are clearly trivial. (Ref: Para. A2‑A6) …
The auditor shall determine whether the overall audit strategy and audit plan need to be revised if: The nature of identified misstatements and the circumstances of their occurrence indicate that other misstatements may exist that, when aggregated with …
If, at the auditor’s request, management has examined a class of transactions, account balances or disclosures and corrected misstatements that were detected, the auditor shall perform additional audit procedures to determine whether misstatements remain. …
The auditor shall communicate, unless prohibited by law or regulation, on a timely basis all misstatements accumulated during the audit with the appropriate level of management. [3] The auditor shall request management to correct those misstatements. …