71 paragraphs found
Since the external auditor has sole responsibility for the audit opinion expressed, the external auditor needs to make the significant judgements in the audit engagement in accordance with paragraph 18 . Significant judgements include the following: …
The application of a systematic and disciplined approach to planning, performing, supervising, reviewing and documenting its activities distinguishes the activities of the internal audit function from other monitoring control activities that may be …
The nature and extent of the external auditor’s audit procedures shall be responsive to the external auditor’s evaluation of: The amount of judgement involved; The assessed risk of material misstatement; The extent to which the internal audit function’s …
The extent to which the internal audit function’s organisational status and relevant policies and procedures support the objectivity of the internal auditors and the level of competence of the function are particularly important in determining whether to …
… For the purposes of this Auditing Standard, the following terms have the meanings …
Internal audit function means a function of an entity that performs assurance and consulting activities designed to evaluate and improve the effectiveness of the entity’s governance, risk management and internal control processes. …