105 paragraphs found
Through the knowledge obtained in performing the audit, the auditor may become aware of or may have obtained an understanding of assumptions used in other areas of the entity’s business. Such matters may include, for example, business prospects, …
When, in the auditor’s judgement based on the audit evidence obtained, management has not taken appropriate steps to understand or address estimation uncertainty, the auditor shall: (Ref: Para. A115–A117 ) Request management to perform additional …
Matters that may affect the auditor’s determination of whether the engagement team requires specialised skills or knowledge, include, for example: [39] The nature of the accounting estimates for a particular business or industry (for example, mineral …
When information from an external information source is used as audit evidence, a relevant consideration for the auditor may be whether information can be obtained, or whether the information is sufficiently detailed, to understand the methods, …
For a significant risk relating to an accounting estimate, the auditor’s further audit procedures shall include tests of controls in the current period if the auditor plans to rely on those controls. When the approach to a significant risk consists only …
A difference between the outcome of an accounting estimate and the amount recognised in the previous period’s financial report does not necessarily represent a misstatement of the previous period’s financial report. However, such a difference may …
… and includes examples of specific paragraphs in this Auditing Standard for which documentation may provide …
The appropriateness of the significant assumptions in the context of the requirements of the applicable financial reporting framework may depend on management’s intent and ability to carry out certain courses of action. Management often documents plans …
In applying the requirements of paragraph 22, with respect to data, the auditor’s further audit procedures shall address: Whether the data is appropriate in the context of the applicable financial reporting framework, and, if applicable, changes from …
As part of obtaining an understanding of the control activities relevant to the audit, the auditor may consider: How management determines the appropriateness of the data used to develop the accounting estimates, including when management uses an external …