367 paragraphs found
Obtaining an understanding, and identifying and assessing risks of material misstatement, is an iterative process. Procedures to obtain an understanding of the entity and its environment and to identify and assess risks of material misstatement by …
The other assurance practitioner may not permit reliance on a previously issued audit or review report, due to the fact that the report was prepared and issued for a purpose other than the subject of the current engagement. In the absence of the assurance …
The concepts and discussions on placing reliance on the work of another auditor relevant to an audit engagement are contained in ASA 620 and ASA 600 which may be useful to assurance practitioners when determining the extent, if any, of such reliance in …
Matters that the assurance practitioner may consider in obtaining an understanding of how the entity makes significant accounting estimates included in the financial information, and the data on which they are based include, for example: (Ref: Para. 48(d) …
When designing and performing assurance procedures, the assurance practitioner considers the adequacy, relevance and reliability of the information obtained to be used as evidence. …
The concepts and discussions on obtaining evidence relevant to an audit engagement are contained in ASA 500 , which may be useful to assurance practitioners when determining the extent, if any, of evidence required in the conduct of an assurance …
Because the level of assurance obtained in a limited assurance engagement is lower than in a reasonable assurance engagement, the procedures the assurance practitioner will perform in a limited assurance engagement will vary in nature from, and are less …
Overall responses to address the assessed risks of material misstatement in the financial information level may include: emphasising to the assurance team the need to maintain professional scepticism; assigning more experienced staff or those with special …
The nature, timing, and extent of assurance procedures to be carried out are influenced by various factors, including, but not limited to: the assurance practitioner’s assessment of risk and its impact on the sufficiency and appropriateness of evidence; …
To obtain more persuasive evidence because of a higher assessment of risk of material misstatement, the assurance practitioner may increase the quantity of the evidence, or obtain evidence that is more relevant or reliable, for example, by obtaining …