54 paragraphs found
In those circumstances where, due to uncertainties, the entity’s legal counsel is unable to form a conclusion to corroborate management’s representation, the auditor needs to consider the effect on the auditor’s report arising from the extent of …
ASA 580 # deals with the auditor’s responsibility to obtain written representations from management and, where appropriate, those charged with governance, in an audit of a financial report. Appendix 2 of that Standard provides an illustrative example of …
As management is the primary source of information regarding litigation and claims, the auditor is required to request management to provide written representations about such matters. Written representations from management provide audit evidence …
In accordance with ASA 700, † the auditor is required to date the auditor’s report no earlier than the date on which the auditor has obtained sufficient appropriate audit evidence on which to base the auditor’s opinion on the financial report. Audit …
When new litigation or claims, which may have a material effect on the financial report, have been referred to the entity’s legal counsel subsequent to sending the letter of enquiry to the entity’s legal counsel and prior to signing the auditor’s report, …
When litigation and claims matters, which may have a material effect on the financial report, are discovered, which were not previously identified by management, the auditor would ordinarily inform management and request management to address further …
If information comes to the auditor’s attention that may indicate the existence of material liabilities resulting from litigation and claims on which management has not sought advice, the auditor ordinarily discusses the matter with those charged with …
See ASA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures. …
See ASA 500 for the applicable requirements and guidance on using the work of a management’s expert. …
See ASA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report …