274 paragraphs found
Examples of data include: Prices agreed in market transactions; Operating times or quantities of output from a production machine; Historical prices or other terms included in contracts, such as a contracted interest rate, a payment schedule, and term …
Data can come from a wide range of sources. For example, data can be: Generated within the organisation or externally; Obtained from a system that is either within or outside the general or subsidiary ledgers; Observable in contracts; or Observable in …
Examples of paragraphs that include guidance on how the requirements of this Auditing Standard can be scaled include paragraphs A20–A22 , A63 , A67 , and A84 …
I nherent risk factors are characteristics of events or conditions that affect susceptibility to misstatement, whether due to fraud or error, of an assertion about a class of transactions, account balance or disclosures, before consideration of controls. …
When assessing the risks of material misstatement at the assertion level [33] , in addition to estimation uncertainty, complexity, and subjectivity, the auditor also takes into account the degree to which inherent risk factors included in ASA 315, (other …
In assessing control risk at the assertion level in accordance with ASA 315, the auditor takes into account whether the auditor plans to test the operating effectiveness of controls. When the auditor is considering whether to test the operating …
Paragraphs A60 , A95 , A96 , A137 and A139 are examples of paragraphs that describe ways in which the auditor can exercise professional scepticism. Paragraph A152 provides guidance on ways in which the auditor’s exercise of professional scepticism may be …
Other considerations that may be relevant to the auditor’s consideration of whether the accounting estimates and related disclosures are reasonable in the context of the applicable financial reporting framework include whether: The data and assumptions …
The term “applied appropriately” as used in paragraph 9 means in a manner that not only complies with the requirements of the applicable financial reporting framework but, in doing so, reflects judgements that are consistent with the objective of the …
Accounting estimates are monetary amounts that may be related to classes of transactions or account balances recognised or disclosed in the financial report. Accounting estimates also include monetary amounts included in disclosures or used to make …