58 paragraphs found
The auditor shall perform audit procedures, appropriate to the purpose, on each item selected. …
If the audit procedure is not applicable to the selected item, the auditor shall perform the procedure on a replacement item. (Ref: Para. A14) …
If the auditor is unable to apply the designed audit procedures, or suitable alternative procedures, to a selected item, the auditor shall treat that item as a deviation from the prescribed control, in the case of tests of controls, or a misstatement, in …
The auditor shall investigate the nature and cause of any deviations or misstatements identified, and evaluate their possible effect on the purpose of the audit procedure and on other areas of the audit. …
In the extremely rare circumstances when the auditor considers a misstatement or deviation discovered in a sample to be an anomaly, the auditor shall obtain a high degree of certainty that such misstatement or deviation is not representative of the …
For tests of details, the auditor shall project misstatements found in the sample to the population. (Ref: Para. A18-A20) …
The auditor shall evaluate: The results of the sample; and (Ref: Para. A21-A22) Whether the use of audit sampling has provided a reasonable basis for conclusions about the population that has been tested. …
Examples of non-sampling risk include use of inappropriate audit procedures, or misinterpretation of audit evidence and failure to recognise a misstatement or …
The sampling units might be physical items (for example, cheques listed on deposit slips, credit entries on bank statements, sales invoices or debtors’ balances) or monetary …
When designing a sample, the auditor determines tolerable misstatement in order to address the risk that the aggregate of individually immaterial misstatements may cause the financial report to be materially misstated and provide a margin for possible …