32 paragraphs found
When designing an audit sample, the auditor shall consider the purpose of the audit procedure and the characteristics of the population from which the sample will be drawn. …
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 controls, an unexpectedly high sample deviation rate may lead to an increase in the assessed risk of material misstatement, unless further audit evidence substantiating the initial assessment is obtained. For tests of details, an …
… For the purposes of the Australian Auditing Standards, the following terms have the meanings …
The auditor shall perform audit procedures, appropriate to the purpose, on each item selected. …
If the auditor concludes that audit sampling has not provided a reasonable basis for conclusions about the population that has been tested, the auditor may: Request management to investigate misstatements that have been identified and the potential for …
An example of when the auditor is unable to apply the designed audit procedures to a selected item is when documentation relating to that item has been …
In the case of tests of details, the projected misstatement plus anomalous misstatement, if any, is the auditor’s best estimate of misstatement in the population. When the projected misstatement plus anomalous misstatement, if any, exceeds tolerable …