369 paragraphs found
In a direct engagement, the responsible party is not required to identify specific control objectives, or evaluate whether controls are suitably designed to achieve those objectives and, if applicable, the description is fairly presented, the controls …
The process necessary to identify the overall control objectives, specific control objectives and controls relevant to the achievement of those objectives, will vary depending on the size and complexity of the entity or component which is being assured. …
The assurance practitioner may decide to discuss elements of planning with management or other appropriate party when determining the scope of the engagement or to facilitate the conduct and management of the engagement (for example, to co-ordinate some …
The assurance practitioner applies the same considerations in both limited assurance and reasonable assurance engagements regarding what represents a material control, since such judgements are not affected by the level of assurance being …
The significance to users and the impact on the entity of the achievement of the control objectives provide a frame of reference for the assurance practitioner in considering materiality for the engagement. A materiality matrix may be used to plot the …
In a controls engagement, the decisions of users are influenced by whether and the extent to which the control objectives are achieved, therefore the materiality of a control is dependent on the significance of that control in mitigating the risks which …
The assurance practitioner considers the materiality of the controls at the planning stage, reassesses materiality during the engagement based on the findings, and considers the materiality of any identified deficiencies in the design, misstatements in …
Materiality of controls is primarily based on qualitative factors, such as: the significance of the control to achieving a control objective which is to be concluded upon; whether the control is pervasive in that it impacts on the achievement of multiple …
Materiality with respect to the operating effectiveness of controls, may also be based on quantitative factors, in particular where the controls relate to activities expressed in volumes or values, such as: the total value of transactions, volume of …
The assurance practitioner’s understanding of the system, ordinarily, has a lesser depth for a limited assurance engagement than for a reasonable assurance engagement. The assurance practitioner’s procedures to obtain this understanding may include: …