176 paragraphs found
For the purposes of the Australian Auditing Standards, a risk of material misstatement exists when there is a reasonable possibility of: A misstatement occurring (i.e., its likelihood); and Being material if it were to occur (i.e., its …
The "considerations specific to smaller entities" included in some Australian Auditing Standards have been developed primarily with unlisted entities in mind. Some of the considerations, however, may be helpful in audits of smaller listed …
For purposes of specifying additional considerations to audits of smaller entities, a “smaller entity” refers to an entity which typically possesses qualitative characteristics such as: Concentration of ownership and management in a small number of …
The considerations specific to “automated tools and techniques” included in some Auditing Standards (for example, ASA 315 ) have been developed to explain how the auditor may apply certain requirements when using automated tools and techniques in …
An applicable financial reporting framework that may be used in preparing a financial report is represented by the Australian Accounting Standards issued by the Australian Accounting Standards Board (AASB), and relevant law, such as the Corporations …