71 paragraphs found
Paragraph 5 of this Auditing Standard requires the auditor to accumulate misstatements identified during the audit other than those that are clearly trivial. “Clearly trivial” is not another expression for “not material.” Misstatements that are clearly …
A misstatement may not be an isolated occurrence. Evidence that other misstatements may exist include, for example, where the auditor identifies that a misstatement arose from a breakdown in internal control or from inappropriate assumptions or valuation …
Timely communication of misstatements to the appropriate level of management is important as it enables management to evaluate whether the classes of transactions, account balances and disclosures are misstated, inform the auditor if it disagrees, and …
The auditor’s determination of materiality in accordance with ASA 320 is often based on estimates of the entity’s financial results, because the actual financial results may not yet be known. Therefore, prior to the auditor’s evaluation of the effect of …
Because the preparation of the financial report requires management and, where appropriate, those charged with governance to adjust the financial report to correct material misstatements, the auditor is required to request them to provide a written …
The auditor’s documentation of uncorrected misstatements may take into account: The consideration of the aggregate effect of uncorrected misstatements; The evaluation of whether the materiality level or levels for particular classes of transactions, …
The objective of the auditor is to evaluate: The effect of identified misstatements on the audit; and The effect of uncorrected misstatements, if any, on the financial …
For the purposes of this Auditing Standard, the following terms have the meanings attributed below: …
This Auditing Standard applies to: an audit of a financial report for a financial year, or an audit of a financial report for a half‑year, in accordance with the Corporations Act 2001 ; and an audit of a financial report, or a complete set of financial …
This Auditing Standard also applies, as appropriate, to an audit of other historical financial information. …