119 paragraphs found
See ASA 320 Materiality in Planning and Performing an Audit , paragraphs 10‒11 . …
See ASA 701 Communicating Key Audit Matters in the Independent Auditor’s Report , paragraph 9 . …
When making assertions about the financial report of public sector entities, in addition to those assertions set out in paragraph A190(a)‒(b) , management may often assert that transactions and events have been carried out in accordance with law, …
In order to develop appropriate strategies for responding to risks of material misstatement, the auditor may designate risks of material misstatement within categories along the spectrum of inherent risk, based on their assessment of inherent risk. These …
See ASA 220 Quality Control for an Audit of a Financial Report and Other Historical Financial Information , paragraph 12 . …
Where routine business transactions are subject to highly automated processing with little or no manual intervention, it may not be possible to perform only substantive procedures in relation to the risk. This may be the case in circumstances where a …
In performing the evaluations of each of the components of the entity’s system of internal control, [46] the auditor may determine that certain of the entity’s policies in a component are not appropriate to the nature and circumstances of the entity. Such …
Paragraph 26(a)(iii) also requires the identification of controls that address risks for which substantive procedures alone cannot provide sufficient appropriate audit evidence because the auditor is required, in accordance with ASA 330, [59] to design …
The application of professional scepticism by the auditor may include: Questioning contradictory information and the reliability of documents; Considering responses to enquiries and other information obtained from management and those charged with …
Identifying the IT applications that are subject to risks arising from the use of IT involves taking into account controls identified by the auditor because such controls may involve the use of IT or rely on IT. The auditor may focus on whether an IT …