20 paragraphs found
If the assurance practitioner’s evaluation of the internal audit function confirms that the work of the internal audit function can be used for purposes of the compliance engagement, then the assurance practitioner shall determine the planned effect of …
In obtaining an understanding of the compliance framework, including controls, the assurance practitioner determines whether the entity has an internal audit function and its effect on the controls within the compliance framework. The internal audit …
If the assurance practitioner uses specific work of the internal audit function, the assurance practitioner shall document the conclusions reached regarding the evaluation of the adequacy of the work of the internal audit function, and the procedures …
Refer to ASA 402 Audit Considerations Relating to an Entity Using a Service Organisation and GS013 Special Considerations in the Audit of Compliance Plans of Managed Investment Schemes paragraphs 36 and 37 for further …
The assurance practitioner shall consider based on the compliance engagement circumstances whether it is appropriate to use the work of the internal audit …
Internal audit function ―A function of an entity that performs assurance and consulting activities designed to evaluate and improve the effectiveness of the entity’s governance, risk management and internal control …
An effective internal audit function may enable the assurance practitioner to modify the nature and/or timing, and/or reduce the extent of assurance procedures performed, but cannot eliminate them …
The assurance practitioner shall determine whether the entity has an internal audit function and, if so, makes further enquiries to obtain an understanding of the activities and main findings of the internal audit function with respect to the compliance …
The assurance practitioner, in order to comply with relevant ethical requirements gives consideration to whether the assurance practitioner has provided internal audit or consulting services with respect to the compliance framework or implementation of …
Irrespective of the degree of autonomy and objectivity of the internal audit function, such a function is not independent of the entity as is required of the assurance practitioner when performing the compliance engagement. The assurance practitioner has …