106 paragraphs found
The key members of the engagement team are required to discuss the susceptibility of an entity to material misstatement of the financial reports due to fraud or error, specifically emphasising the risks due to fraud. In a group audit, these discussions …
… entity’s financial performance. [16] Appendix 2 of this Auditing Standard contains guidance on matters specific to a …
If the group engagement partner concludes that: it will not be possible for the group engagement team to obtain sufficient appropriate audit evidence due to restrictions imposed by group management; and the possible effect of this inability will result …
If the group engagement team plans to request a component auditor to perform work on the financial information of a component, the group engagement team shall obtain an understanding of the following: (Ref: Para. A32‑A35) Whether the component auditor …
To reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements in the group financial report exceeds materiality for the group financial report as a whole, component materiality is set lower than …
The examples provided cover a broad range of conditions or events; however, not all conditions or events are relevant to every group audit engagement and the list of examples is not exhaustive. A complex group structure, especially where there are …
… by a component auditor, see paragraph 41(h) of this Auditing Standard, or information indicates that a fraud may …
See ASA 230 Audit Documentation , paragraphs 8-11 , and paragraph A6 . …
In the case of a continuing engagement, the group engagement team’s ability to obtain sufficient appropriate audit evidence may be affected by significant changes, for example: Changes in the group structure (for example, acquisitions, disposals, …
The examples provided cover a broad range of matters; however, not all matters are relevant to every group audit engagement and the list of examples is not exhaustive. Group-Wide Controls Group-wide controls may include a combination of the following: …