105 paragraphs found
Events occurring after the date of the financial report may provide additional information relevant to the auditor’s assessment of the risks of material misstatement at the assertion level. For example, the outcome of an accounting estimate may become …
Even if the auditor decides not to undertake this testing approach in respect of specific accounting estimates, the auditor is required to comply with ASA 560. ASA 560 requires the auditor to perform audit procedures designed to obtain sufficient …
The auditor’s judgement in identifying controls relevant to the audit, and therefore the need to evaluate the design of those controls and determine whether they have been implemented, relates to management’s process described in paragraph 13(h)(ii). The …
For entities with an internal audit function, its work may be particularly helpful to the auditor in obtaining an understanding of: The nature and extent of management’s use of accounting estimates; The design and implementation of control activities that …
A retrospective review may provide audit evidence that supports the identification and assessment of the risks of material misstatement in the current period. Such a retrospective review may be performed for accounting estimates made for the prior …
… for the auditor’s work performed in accordance with this Auditing Standard. For example, an accounting estimate may …
When using information produced by the entity, ASA 500 requires the auditor to evaluate whether the information is sufficiently reliable for the auditor’s purposes, including as necessary in the circumstances, to obtain audit evidence about the accuracy …
For some accounting estimates, events occurring up to the date of the auditor’s report are unlikely to provide sufficient appropriate audit evidence regarding the accounting estimate. For example, the conditions or events relating to some accounting …
When the auditor identifies indicators of possible management bias, the auditor may need a further discussion with management and may need to reconsider whether sufficient appropriate audit evidence has been obtained that the method, assumptions and data …
… and guidance in ASA 230. [67] In the context of auditing accounting estimates, the auditor is required to …