105 paragraphs found
A review of the outcome or re-estimation of previous accounting estimates (retrospective review) assists in identifying and assessing the risks of material misstatement when previous accounting estimates have an outcome through transfer or realisation of …
In applying ASA 330 to accounting estimates, [19] the auditor shall evaluate, based on the audit procedures performed and audit evidence obtained, whether: (Ref: Para A137–A138 ) The assessments of the risks of material misstatement at the assertion level …
In making the evaluation required by paragraph 33(c), the auditor shall take into account all relevant audit evidence obtained, whether corroborative or contradictory. [20] If the auditor is unable to obtain sufficient appropriate audit evidence, the …
… expert, the requirements in paragraphs 21–29 of this Auditing Standard may assist the auditor in evaluating the …
Circumstances when risks for which substantive procedures alone cannot provide sufficient appropriate audit evidence at the assertion level may exist include: When controls are necessary to mitigate risks relating to the initiation, recording, processing, …
When the auditor’s further audit procedures include testing how management made the accounting estimate or developing an auditor’s point estimate or range, the auditor is required to obtain sufficient appropriate audit evidence about disclosures that …
As required by ASA 330, [15] the auditor shall design and perform tests to obtain sufficient appropriate audit evidence as to the operating effectiveness of relevant controls, if: The auditor’s assessment of risks of material misstatement at the assertion …
… at the assertion level, in accordance with ASA 330, this Auditing Standard requires that the auditor take into …
The degree of subjectivity associated with an accounting estimate influences the susceptibility of the accounting estimate to misstatement due to management bias or fraud. For example, when an accounting estimate is subject to a high degree of …
The requirement in paragraph 29(a) for the auditor to determine that the range includes only amounts that are supported by sufficient appropriate audit evidence does not mean that the auditor is expected to obtain audit evidence to support each possible …