55 paragraphs found
The auditor’s consideration of client continuance and relevant ethical requirements, including independence, [*] occurs throughout the audit engagement as conditions and changes in circumstances occur. Performing initial procedures on both client …
The process of establishing the overall audit strategy assists the auditor to determine, subject to the completion of the auditor’s risk assessment procedures, such matters as: The resources to deploy for specific audit areas, such as the use of …
Appendix 1 lists examples of considerations in establishing the overall audit strategy. …
Once the overall audit strategy has been established, an audit plan can be developed to address the various matters identified in the overall audit strategy, taking into account the need to achieve the audit objectives through the efficient use of the …
In audits of small entities, the entire audit may be conducted by a very small audit team. Many audits of small entities involve the engagement partner (who may be a sole practitioner) working with one engagement team member (or without any engagement …
The audit plan is more detailed than the overall audit strategy in that it includes the nature, timing and extent of audit procedures to be performed by engagement team members. Planning for these audit procedures takes place over the course of the audit …
Determining the nature, timing and extent of planned risk assessment procedures, and the further audit procedures, as they relate to disclosures is important in light of both the wide range of information and the level of detail that may be encompassed in …
Consideration of disclosures early in the audit assists the auditor in giving appropriate attention to, and planning adequate time for, addressing disclosures in the same way as classes of transactions, events and account balances. Early consideration …
As a result of unexpected events, changes in conditions, or the audit evidence obtained from the results of audit procedures, the auditor may need to modify the overall audit strategy and audit plan and thereby the resulting planned nature, timing and …
The nature, timing and extent of the direction and supervision of engagement team members and review of their work vary depending on many factors, including: The size and complexity of the entity. The area of the audit. The assessed risks of material …