94 paragraphs found
Observation and inspection may support enquiries of management and others, and may also provide information about the entity and its environment. Examples of such audit procedures include observation or inspection of the following: The entity’s …
An entity’s financial reporting process also includes the use of non standard journal entries to record non recurring, unusual transactions or adjustments. Examples of such entries include consolidating adjustments and entries for a business combination …
The information system and related business processes relevant to financial reporting in small entities, including relevant aspects of that system relating to information disclosed in the financial report that is obtained from within or outside of the …
Where such routine business transactions are subject to highly automated processing with little or no manual intervention, it may not be possible to perform only substantive procedures in relation to the risk. For example, the auditor may consider this to …
… to financial reporting required by paragraph 18 of this Auditing Standard (including the understanding of relevant …
Factors relevant to the auditor’s judgement about whether a control, individually or in combination with others, is relevant to the audit may include such matters as the following: Materiality. The significance of the related risk. The size of the entity. …
See ASA 300 Planning an Audit of a Financial Report , paragraphs 7 and 9 . …
The auditor shall identify and assess the risks of material misstatement at: the financial report level; and (Ref: Para. A122-A125) the assertion level for classes of transactions, account balances, and disclosures (Ref: Para. A126-A131) to provide a …
See ASA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of a Financial Report , paragraphs 12 - 24. …