119 paragraphs found
In addition, audit evidence about elements of the control environment in less complex entities may not be available in documentary form, in particular where communication between management and other personnel is informal, but the evidence may still be …
In evaluating the effectiveness of the design of controls and whether they have been implemented (see paragraphs A175 to A181) the auditor’s understanding of each of the components of the entity’s system of internal control provides a preliminary …
The risk assessment procedures shall include the following: (Ref: Para. A19–A21) Enquiries of management and of other appropriate individuals within the entity, including individuals within the internal audit function (if the function exists). …
If the auditor has identified one or more control deficiencies, ASA 265 [47] requires the auditor to determine whether, individually or in combination, the deficiencies constitute a significant deficiency. The auditor uses professional judgement in …
Understanding the entity and its environment, and the applicable financial reporting framework, assists the auditor in identifying events or conditions, the characteristics of which may affect the susceptibility of assertions about classes of …
Assertions used by the auditor in considering the different types of potential misstatements that may occur may fall into the following categories: Assertions about classes of transactions and events, and related disclosures, for the period under audit: …
The auditor shall obtain an understanding of the control activities component, through performing risk assessment procedures, by: (Ref: Para. A147–A157) Identifying controls that address risks of material misstatement at the assertion level in the control …
The entity’s system of internal control may be reflected in policy and procedures manuals, systems and forms, and the information embedded therein, and is effected by people. The entity’s system of internal control is implemented by management, those …
This appendix provides further explanation about the inherent risk factors, as well as matters that the auditor may consider in understanding and applying the inherent risk factors in identifying and assessing the risks of material misstatement at the …