70 paragraphs found
The documentation requirement applies only to requirements that are relevant in the circumstances. A requirement is not relevant [10] only in the cases where: The entire Auditing Standard is not relevant (for example, if an entity does not have an …
Examples of exceptional circumstances include facts which become known to the auditor after the date of the auditor’s report but which existed at that date and which, if known at that date, might have caused the financial report to be amended or the …
ASQC 1 requires firms to establish policies and procedures for the timely completion of the assembly of audit files. [14] An appropriate time limit within which to complete the assembly of the final audit file is ordinarily not more than 60 days after …
The completion of the assembly of the final audit file after the date of the auditor’s report is an administrative process that does not involve the performance of new audit procedures or the drawing of new conclusions. Changes may, however, be made to …
ASQC 1 requires firms to establish policies and procedures for the retention of engagement documentation. [16] The retention period for audit engagements ordinarily is no shorter than five years from the date of the auditor’s report, or, if later, the …
Under section 307B of the Corporations Act 2001 , the auditor or member of an audit firm is required to retain all audit working papers prepared by or for, or considered or used by, the auditor in accordance with the requirements of the Australian …
Relevant legislation or regulation, other than the Corporations Act 2001 , may require the retention of audit working papers for specified …