14 paragraphs found
… needed to be exercised in planning and performing the audit procedures and evaluating the audit evidence, the external auditor will need to perform more …
… This Auditing Standard deals with the external auditor’s responsibilities if using the work of internal auditors. This includes using the work of the internal audit function in obtaining audit evidence. …
… judgement is often involved in planning and performing the audit procedures and evaluating the results thereof. In such circumstances, the external auditor will need to perform more procedures directly in … audit function in obtaining sufficient appropriate audit evidence. Furthermore, as explained in ASA 200, [21] the …
… The external auditor’s evaluation of whether the internal audit function’s organisational status and relevant policies … adequately support the objectivity of the internal auditors, the level of competence of the internal audit … appropriate to use any of the work of the function as audit evidence. …
… risk of material misstatement, the less the internal audit function’s organisational status and relevant policies … adequately support the objectivity of the internal auditors, or the lower the level of competence of the … of the function in obtaining sufficient appropriate audit evidence on which to base the audit opinion. …
… Depending on whether the internal audit function’s organisational status and relevant policies … adequately support the objectivity of the internal auditors, the level of competency of the internal audit … work of the internal audit function as part of the audit evidence obtained. [4] Such use of that work modifies the …
… The external auditor has sole responsibility for the audit opinion expressed, and that responsibility is not … the necessary work effort to obtain sufficient appropriate evidence that the work of the internal audit function is …
… If the entity has an internal audit function, the requirements in this Auditing Standard relating to using the work of that … expect to use the work of the function in obtaining audit evidence. Nothing in this Auditing Standard requires the …
… The external auditor shall perform sufficient audit procedures on the body of work of the internal audit … supervised, reviewed and documented; Sufficient appropriate evidence had been obtained to enable the function to draw …
… procedures similar to those performed by an internal audit function. However, unless performed by an objective … would be considered internal controls and obtaining evidence regarding the effectiveness of such controls would be part of the auditor’s responses to assessed risks in accordance with …