93 paragraphs found
Because the effect on a financial report of laws and regulations can vary considerably, written representations provide necessary audit evidence about management’s knowledge of identified or suspected non‑compliance with laws and regulations, whose …
The auditor may become aware of information concerning an instance of non‑compliance with laws and regulations other than as a result of performing the procedures in paragraphs 13–17 (e.g., when the auditor is alerted to non‑compliance by a whistle …
The following matters may be an indication of non‑compliance with laws and regulations: Investigations by regulatory organisations and government departments or payment of fines or penalties. Payments for unspecified services or loans to consultants, …
Matters relevant to the auditor’s evaluation of the possible effect on the financial report include: The potential financial consequences of identified or suspected non‑compliance with laws and regulations on the financial report including, for example, …
The auditor is required to discuss the suspected non‑compliance with the appropriate level of management and, where appropriate, those charged with governance, as they may be able to provide additional audit evidence. For example, the auditor may confirm …
In the case of an audit conducted under the Corporations Act 2001 , the auditor may need to consider the provisions relating to the protection for whistleblowers contained in Part 9.4AAA of the Corporations Act 2001 when communicating identified or …
However, in some jurisdictions, law or regulation may restrict the auditor’s communication of certain matters with management and those charged with governance. Law or regulation may specifically prohibit a communication, or other action, that might …
If management or, as appropriate, those charged with governance, do not provide sufficient information to the auditor that the entity is in fact in compliance with laws and regulations, the auditor may consider it appropriate to consult with the entity’s …
As required by paragraph 22 , the auditor evaluates the implications of identified or suspected non‑compliance in relation to other aspects of the audit, including the auditor’s risk assessment and the reliability of written representations. The …
Examples of circumstances that may cause the auditor to evaluate the implications of identified or suspected non‑compliance on the reliability of written representations received from management and, where applicable, those charged with governance include …