93 paragraphs found
The nature and circumstances of the entity may impact whether relevant laws and regulations are within the categories of laws and regulations described in paragraphs 6(a) or 6(b) . Examples of laws and regulations that may be included in the categories …
In the public sector, there may be additional audit responsibilities with respect to the consideration of laws and regulations which may relate to the audit of the financial report or may extend to other aspects of the entity’s …
Law, regulation or relevant ethical requirements may require the auditor to perform additional procedures and take further action. For example, the APES 110 Code of Ethics for Professional Accountants (including Independence Standards) issued by the …
Acts of non‑compliance with laws and regulations include transactions entered into by, or in the name of, the entity, or on its behalf, by those charged with governance, by management or by other individuals working for or under the direction of the …
Non‑compliance also includes personal misconduct related to the business activities of the entity, for example, in circumstances where an individual in a key management position, in a personal capacity, has accepted a bribe from a supplier of the entity …
To obtain a general understanding of the legal and regulatory framework, and how the entity complies with that framework, the auditor may, for example: Use the auditor’s existing understanding of the entity’s industry, regulatory and other external …
Certain laws and regulations are well‑established, known to the entity and within the entity’s industry or sector, and relevant to the entity’s financial report (as described in paragraph 6(a) ). They could include those that relate to, for example: The …
Certain other laws and regulations may need particular attention by the auditor because they have a fundamental effect on the operations of the entity (as described in paragraph 6(b) ). Non‑compliance with laws and regulations that have a fundamental …
As the financial reporting consequences of other laws and regulations can vary depending on the entity’s operations, the audit procedures required by paragraph 15 are directed to bringing to the auditor’s attention instances of non‑compliance with laws …
Audit procedures applied to form an opinion on the financial report may bring instances of non‑compliance or suspected non‑compliance with laws and regulations to the auditor’s attention. For example, such audit procedures may include: Reading minutes; …