33 paragraphs found
… While the concepts underlying controls in the control activities component in smaller entities are likely to be similar to those in larger entities, …
… Examples of matters that the auditor may consider in determining whether a deficiency or combination of deficiencies in internal control constitutes a significant deficiency include: The likelihood of … to the deficiency or deficiencies. The importance of the controls to the financial reporting process; for example: …
… is designed, implemented or operated in such a way that it is unable to prevent, or detect and correct, …
… Public sector auditors may have additional responsibilities to communicate deficiencies in … to be communicated by this Auditing Standard, for example, controls related to compliance with legislative authorities, …
… The auditor is required to obtain an understanding of the entity's system of internal control when identifying and … [4] In making those risk assessments, the auditor considers the entity's system of internal control in …
… Controls may be designed to operate individually or in … the account balance. A deficiency in internal control on its own may not be sufficiently important to constitute a significant deficiency. However, a combination of …
… In circumstances when the auditor has a responsibility to express an opinion on the effectiveness of internal control in conjunction with the audit of the financial report, the auditor shall …
… level of management is the one that has responsibility and authority to evaluate the deficiencies in internal control and to … are also required to be communicated to those charged with governance. For other deficiencies in internal control, …
… are not being appropriately scrutinised by those charged with governance. Identification of management fraud, whether or not material, that was not prevented by the entity’s internal control. Management’s failure to implement … to identified significant risks (for example, absence of controls over such a risk). Misstatements detected by the …
… of deficiencies in internal control that, in the auditor’s professional judgement, is of sufficient importance to merit the attention of those charged with governance. (Ref: Para. A5 ) …