121 paragraphs found
The concept of materiality is applied by the auditor both in planning and performing the audit, and in evaluating the effect of identified misstatements on the audit and of uncorrected misstatements, if any, on the financial report. [1] In general, …
See ASA 320 Materiality in Planning and Performing an Audit , and ASA 450 Evaluation of Misstatements Identified during the Audit …
… If an objective in a relevant Auditing Standard cannot be achieved, the auditor shall … thereby requires the auditor, in accordance with Australian Auditing Standards, to modify the auditor’s opinion or …
ASA 300 [22] and ASA 330 establish requirements and provide guidance on planning an audit of a financial report and the auditor’s responses to assessed risks. Detection risk, however, can only be reduced, not eliminated, because of the inherent …
… documentation requirements of other relevant Australian Auditing Standards provides evidence of the auditor’s basis …
… use of an appendix are explained in the body of the related Auditing Standard or within the title and introduction of …
Professional scepticism means an attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud, and a critical assessment of audit …
The risks of material misstatement at the assertion level consist of two components: inherent risk and control risk. Inherent risk and control risk are the entity’s risks; they exist independently of the audit of the financial …