94 paragraphs found
An entity’s system of internal control contains manual elements and often contains automated elements. The characteristics of manual or automated elements are relevant to the auditor’s risk assessment and further audit procedures based …
Much of the information obtained by the auditor’s enquiries is obtained from management and those responsible for financial reporting. Information may also be obtained by the auditor through enquiries with the internal audit function, if the entity has …
ASA 330 describes the consequences for further audit procedures of identifying a risk as significant. [20] …
The consequences for further audit procedures of identifying such risks are described in ASA 330. [23] …
External parties may also measure and review the entity’s financial performance. For example, external information such as analysts’ reports and credit rating agency reports may represent useful information for the auditor. Such reports can often be …
Risk assessment procedures means the audit procedures performed to obtain an understanding of the entity and its environment, including the entity’s internal control, to identify and assess the risks of material misstatement, whether due to fraud or …
The auditor’s judgement about whether a control activity is relevant to the audit is influenced by the risk that the auditor has identified that may give rise to a material misstatement and whether the auditor thinks it is likely to be appropriate to test …
… obtained is sufficient to meet the objective stated in this Auditing Standard. The depth of the overall understanding …
Analytical procedures may help identify the existence of unusual transactions or events, and amounts, ratios, and trends that might indicate matters that have audit implications. Unusual or unexpected relationships that are identified may assist the …
Auditors of public sector entities often have additional responsibilities with regard to internal control and compliance with applicable laws and regulations. Enquiries of appropriate individuals in the internal audit function can assist the auditors in …