33 paragraphs found
In obtaining an understanding of the system, including controls, the assurance practitioner determines whether the entity has an internal audit function and its effect on the controls within the system. The internal audit function ordinarily forms part …
See Guidance Statement GS 002 Audit Implications of Prudential Reporting Requirements for Registrable Superannuation Entities and Prudential Standard SPS 310 Audit and Related …
See Guidance Statement GS 004 Audit Implications of Prudential Reporting Requirements for General Insurers and Insurance Groups and Prudential Standard GPS 310 Audit and Related …
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 …
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 engagement, then the assurance practitioner shall determine the planned effect of the work of …
Internal auditors―Those individuals who perform the activities of the internal audit function. Internal auditors may belong to an internal audit department or equivalent function, out-sourcing entity or co-sourced from both internal and out-sourced …
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 …
See Guidance Statement GS 017 Prudential Reporting Requirements for Auditors of a Life Company and Prudential Standard LPS 310 Audit and Related Matters . …