55 paragraphs found
In addition to the audit procedures required by paragraph 7 , the auditor may consider it necessary and appropriate to: Read the entity’s latest available budgets, cash flow forecasts and other related management reports for periods after the date of the …
In enquiring of management and, where appropriate, those charged with governance, as to whether any subsequent events have occurred that might affect the financial report, the auditor may enquire as to the current status of items that were accounted for …
In the public sector, the auditor may read the official records of relevant proceedings of the legislature and enquire about matters addressed in proceedings for which official records are not yet available. …
As explained in ASA 210, the terms of the audit engagement include the agreement of management to inform the auditor of facts that may affect the financial report, of which management may become aware during the period from the date of the auditor’s …
When, in the circumstances described in paragraph 12(a) , the auditor amends the auditor’s report to include an additional date restricted to that amendment, the date of the auditor’s report on the financial report prior to their subsequent amendment by …
In some jurisdictions, management may not be required by law, regulation or the financial reporting framework to issue an amended financial report. This is often the case when issuance of the financial report for the following period is imminent, …
In the public sector, the actions taken in accordance with paragraph 13 when management does not amend the financial report may also include reporting separately to the legislature, or other relevant body in the reporting hierarchy, on the implications of …
The auditor may need to fulfil additional legal obligations even when the auditor has notified management not to issue the financial report and management has agreed to this request. …
Where management has issued the financial report despite the auditor’s notification not to issue the financial report to third parties, the auditor’s course of action to prevent reliance on the auditor’s report on the financial report depends upon the …
In some jurisdictions, entities in the public sector may be prohibited from issuing an amended financial report by law or regulation. In such circumstances, the appropriate course of action for the auditor may be to report to the appropriate statutory …