369 paragraphs found
An assurance engagement is an iterative process, and information may come to the assurance practitioner’s attention that differs significantly from that on which the determination of planned procedures was based. As the assurance practitioner performs …
The assurance practitioner may become aware of a matter(s) that causes the assurance practitioner to believe that the controls may not be suitably designed, the description may be materially misstated, the controls may not be implemented as designed or …
The level of assurance obtained in a limited assurance engagement is lower than in a reasonable assurance engagement, therefore the procedures the assurance practitioner performs in a limited assurance engagement are different in nature and timing from, …
In evaluating whether a control is suitably designed, either individually or in combination with other controls, to achieve the related control objectives, the assurance practitioner may use flowcharts, questionnaires or decision tables to facilitate …
Controls are directed at preventing, detecting or correcting a failure to achieve a control objective, whether due to fraud or error. Controls may consist of a number of activities directed at the achievement of a control objective. Consequently, if the …
The assurance practitioner’s evaluation of the design of the controls includes procedures to assess whether the controls as designed would, individually or in combination with other controls, mitigate the risks which threaten achievement of the identified …
When evaluating the suitability of the design of controls to prevent, detect or correct fraud, the assurance practitioner considers whether the following fraud risk factors are adequately mitigated by the designed controls: any incentives or pressures to …
Controls can mitigate but not eliminate the risk of fraud, which may threaten achievement of the identified control objectives. In evaluating the suitability of the design of controls, the assurance practitioner considers whether the controls mitigate …
Suitably designed controls may be undermined by deficiencies in other components of control or other competing factors within the entity which the assurance practitioner may need to consider. These risks may be addressed through indirect controls, if so …
When evaluating the suitability of the design of controls the assurance practitioner may identify controls which are either included in the design but omitted from the description or included in the description but are ineffective in achieving the control …