94 paragraphs found
The auditor shall perform risk assessment procedures to provide a basis for the identification and assessment of risks of material misstatement at the financial report and assertion levels. Risk assessment procedures by themselves, however, do not provide …
… the engagement team where required by paragraph 10 of this Auditing Standard, and the significant decisions reached; … and its environment specified in paragraph 11 of this Auditing Standard and of each of the internal control components specified in paragraphs 14-24 of this Auditing Standard; the sources of information from which the …
It is not always necessary or practical for the discussion to include all members in a single discussion (as, for example, in a multi location audit), nor is it necessary for all of the members of the engagement team to be informed of all of the decisions …
… and the Conduct of an Audit in Accordance with Australian Auditing Standards , paragraph 15 . …
If the entity has an internal audit function, [1] the auditor shall obtain an understanding of the nature of the internal audit function’s responsibilities, its organisational status, and the activities performed, or to be performed. (Ref: Para. …
Information obtained by performing risk assessment procedures and related activities may be used by the auditor as audit evidence to support assessments of the risks of material misstatement. In addition, the auditor may obtain audit evidence about …
… For the purposes of this Auditing Standard, the following terms have the meanings …
As part of the discussion among the engagement team required by paragraph 10 , consideration of the disclosure requirements of the applicable financial reporting framework assists in identifying early in the audit where there may be risks of material …
Control activities that are relevant to the audit are: Those that are required to be treated as such, being control activities that relate to significant risks and those that relate to risks for which substantive procedures alone do not provide sufficient …
Control activities relevant to the audit of a smaller entity are likely to relate to the main transaction cycles such as revenues, purchases and employment …