70 paragraphs found
The form, content and extent of audit documentation depend on factors such as: The size and complexity of the entity. The nature of the audit procedures to be performed. The identified risks of material misstatement. The significance of the audit …
Audit documentation may be recorded on paper or on electronic or other media. Examples of audit documentation include: Audit programs. Analyses. Issues memoranda. Summaries of significant matters. Letters of confirmation and representation. …
The auditor need not include in audit documentation superseded drafts of working papers and financial reports, notes that reflect incomplete or preliminary thinking, previous copies of documents corrected for typographical or other errors, and duplicates …
Oral explanations by the auditor, on their own, do not represent adequate support for the work the auditor performed or conclusions the auditor reached, but may be used to explain or clarify information contained in the audit …
In principle, compliance with the requirements of this Auditing Standard will result in the audit documentation being sufficient and appropriate in the circumstances. Other Australian Auditing Standards contain specific documentation requirements that …
Audit documentation provides evidence that the audit complies with the Australian Auditing Standards. However, it is neither necessary nor practicable for the auditor to document every matter considered, or professional judgement made, in an audit. …
Judging the significance of a matter requires an objective analysis of the facts and circumstances. Examples of significant matters include: Matters that give rise to significant risks (as defined in ASA 315). [6] Results of audit procedures indicating …
An important factor in determining the form, content and extent of audit documentation of significant matters is the extent of professional judgement exercised in performing the work and evaluating the results. Documentation of the professional …
Some examples of circumstances in which, in accordance with paragraph 8, it is appropriate to prepare audit documentation relating to the use of professional judgement include, where the matters and judgements are significant: The rationale for the …
The auditor may consider it helpful to prepare and retain as part of the audit documentation a summary (sometimes known as a completion memorandum) that describes the significant matters identified during the audit and how they were addressed, or that …