46 paragraphs found
Planning is not a discrete phase of an audit, but rather a continual and iterative process that often begins shortly after (or in connection with) the completion of the previous audit and continues until the completion of the current audit engagement. …
Performing the preliminary engagement activities specified in paragraph 6 at the beginning of the current audit engagement assists the auditor in identifying and evaluating events or circumstances that may adversely affect the auditor’s ability to plan …
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 …
… out so that the engagement complies with the Australian Auditing Standards. (Ref: Para. A12‑A14) …
As discussed in paragraph A11 , a suitable, brief memorandum may serve as the documented strategy for the audit of a smaller entity. For the audit plan, standard audit programs or checklists (see paragraph A17 ) drawn up on the assumption of few controls …
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 …
… audit or review conducted in accordance with the Australian Auditing Standards. …
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 …
The nature and extent of planning activities will vary according to the size and complexity of the entity, the key engagement team members’ previous experience with the entity, and changes in circumstances that occur during the audit …
Appendix 1 lists examples of considerations in establishing the overall audit strategy. …