176 paragraphs found
The opinion expressed by the auditor is on whether the financial report is prepared, in all material respects, in accordance with the applicable financial reporting framework. The form of the auditor’s opinion, however, will depend upon the applicable …
Where the financial reporting framework is a fair presentation framework, as is generally the case for a general purpose financial report, the opinion required by the Australian Auditing Standards is on whether the financial report is presented fairly, in …
The auditor is subject to relevant ethical requirements, including those pertaining to independence relating to audit engagements as defined in ASA 102. …
ASQC 1 [9] deals with the firm’s responsibilities to establish and maintain its system of quality control for audit engagements. [10] ASQC 1 sets out the responsibilities of the firm for establishing policies and procedures designed to provide it with …
Professional scepticism includes being alert to, for example: Audit evidence that contradicts other audit evidence obtained. Information that brings into question the reliability of documents and responses to enquiries to be used as audit evidence. …
Maintaining professional scepticism throughout the audit is necessary if the auditor is, for example, to reduce the risks of: Overlooking unusual circumstances. Over generalising when drawing conclusions from audit observations. Using inappropriate …
Professional scepticism is necessary to the critical assessment of audit evidence. This includes questioning contradictory audit evidence and the reliability of documents and responses to enquiries and other information obtained from management and those …
The auditor may accept records and documents as genuine unless the auditor has reason to believe the contrary. Nevertheless, the auditor is required to consider the reliability of information to be used as audit evidence. [13] In cases of doubt about the …
The auditor cannot be expected to disregard past experience of the honesty and integrity of the entity’s management and those charged with governance. Nevertheless, a belief that management and those charged with governance are honest and have integrity …