The overall documentation requirements in SASE, how extensive are they compared to those in ISA 230 Audit documentation?
A quick overview, word by word.
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
The document provides learning objectives and substantive procedures for auditing various accounts including non-current assets, intangible non-current assets, inventory, trade receivables, bank, cash, trade payables, accruals, provisions, contingencies, non-current liabilities/long term borrowings, equity, directors' emoluments, revenue, purchases, payroll, interest expense and income, and other expenses. The learning objectives cover verification of additions and disposals for non-current assets, valuation of intangible assets, verification of inventory existence and valuation, and cutoff testing for trade receivables among other procedures.
The document discusses guidelines for audit working papers according to ISA 230. It states that working papers should provide evidence that an effective audit was performed according to standards and regulations. They should be organized to enable an experienced auditor with no previous knowledge of the audit to understand the nature, timing, and procedures of the audit. Working papers must also document the results and conclusions of audit procedures. Characteristics of good working papers are that they have a clear objective, fully document the period under audit, extent of testing, references to other papers, objective recording of test results, consistent conclusions, and appropriate sign-offs.
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
Rodel S. Navarro; Business and Management Consultant and Director; RODEL SY NAVARRO BUSINESS CONSULTANCY SERVICES (RSNBCS); Tel / Mobile: +63-0917-7333563; Email: rsnbcs@gmail.com http://www.slideshare.net/RSNBCS; (About Business Laws compilation): http://www.slideshare.net/BUSINESSLAWSPH Email: businesslawsph@gmail.com; https://www.slideshare.net/FREEPDFBOOKSPH; freepdfbooksph@gmail.com; www.slideshare.net/IFRS_IAS_COMPILED; ifrs.ias.compiled@gmail.com; https://www.slideshare.net/PH_STANDARDSONAUDITING_COMPILED; psauditing.compiled@gmail.com
The document provides learning objectives and substantive procedures for auditing various accounts including non-current assets, intangible non-current assets, inventory, trade receivables, bank, cash, trade payables, accruals, provisions, contingencies, non-current liabilities/long term borrowings, equity, directors' emoluments, revenue, purchases, payroll, interest expense and income, and other expenses. The learning objectives cover verification of additions and disposals for non-current assets, valuation of intangible assets, verification of inventory existence and valuation, and cutoff testing for trade receivables among other procedures.
The document discusses guidelines for audit working papers according to ISA 230. It states that working papers should provide evidence that an effective audit was performed according to standards and regulations. They should be organized to enable an experienced auditor with no previous knowledge of the audit to understand the nature, timing, and procedures of the audit. Working papers must also document the results and conclusions of audit procedures. Characteristics of good working papers are that they have a clear objective, fully document the period under audit, extent of testing, references to other papers, objective recording of test results, consistent conclusions, and appropriate sign-offs.
1. The document discusses audit documentation, which provides evidence of the auditor's basis for conclusions and that the audit was performed according to standards. It assists auditors in planning, performing, and reviewing the audit.
2. The purposes of audit documentation include assisting the audit team, demonstrating the work was properly performed, and providing records for future audits. It guides auditors in providing reasonable assurance that documentation supports the audit evidence and conclusions in the report.
3. The document outlines specific requirements for audit documentation content, organization, and formats. It provides examples of typical documentation like audit programs, files, schedules, and issues analyses. Documentation ownership and confidentiality are also addressed.
The document summarizes key aspects of an examinable supplement issued by ICAP related to auditing. It covers 5 learning objectives:
1. Elements of an auditor's report under ISA 700 (revised).
2. Differences between report formats under ISA 700 versus Form 35A.
3. Determining and communicating key audit matters to those charged with governance.
4. Communication of key audit matters in the auditor's report for listed entities.
5. Revised definition and examples of emphasis of matter.
Auditor evaluates several matters before forming an opinion on financial statements, including whether misstatements or scope limitations exist, and if so, whether their effects are material or pervasive. The auditor must conclude that the financial statements present a true and fair view, include adequate disclosures, and have reasonable accounting estimates and policies selected, applied and disclosed in accordance with accounting standards. If a change in accounting policy occurs, the auditor will note the exception to consistent application in the report and refer to the related disclosure in the financial statements, stating whether concurrence with the change exists. When a misstatement is identified, the auditor accumulates all misstatements, evaluates whether uncorrected misstatements are material, and determines the effect on the audit report.
This SOP describes the procedure for following up on site audit findings. The auditor will prepare a draft audit report within a specified number of working days and ensure corrective actions are prepared and implemented by the site within required timelines. All corrective action documentation will be filed in the audit file. Once all issues have been resolved, copies of the report will be recalled and filed securely along with an audit log listing audited studies and sites.
This document outlines requirements for audit documentation according to standards set by the PCAOB. It defines audit documentation as the written record of the audit work performed, evidence obtained, and conclusions reached. Audit documentation supports the auditor's conclusions and representations in their report. It must contain sufficient information for another auditor to understand the work performed and conclusions reached. The documentation must also include any significant issues identified and how they were addressed. Audit documentation must be retained for seven years after the report release date.
The document provides information about engagement letters in an auditing context. It discusses the purposes of engagement letters, the key information that should be included in engagement letters, factors to consider when accepting changes to engagement terms, and circumstances where engagement letters may need to be revised for recurring audits. Specifically:
1. Engagement letters confirm the appointment of the auditor, define the scope and objectives of the audit, and outline the responsibilities of the auditor and management.
2. Key information in an engagement letter includes the scope and objective of the audit, applicable financial reporting framework, responsibilities of the auditor and management, expected audit report, and statement that the report may differ from expectations.
3. Auditors should only accept
This document summarizes the key points of an International Standard on Auditing (UK) regarding audit documentation:
1) It establishes requirements for audit documentation relating to the timing of preparation, documentation of procedures performed and evidence obtained, and assembly of the final audit file.
2) Audit documentation provides evidence of the audit work performed and conclusions reached, and promotes quality and consistency in the audit.
3) The auditor must document significant matters, judgments made, and any departures from audit standards. Audit documentation must be sufficient to allow an experienced auditor to understand the nature, timing and extent of procedures performed.
The document discusses audit documentation and working papers. It defines audit documentation as evidence of the auditor's work, including the basis for conclusions and compliance with standards. It notes that audit documentation provides evidence of planning and performance. It also defines internal and external documentation. The document then discusses the purpose and contents of audit working papers, including planning, supervision, and supporting the auditor's opinion. It provides examples of common working paper components and formatting conventions.
The document provides highlights of Standards on Auditing (SA) issued by the Institute of Chartered Accountants of India (ICAI). It summarizes key aspects of various SA standards including SA 200 on basic principles of an audit, SA 210 on terms of audit engagement, SA 220 on quality control, SA 230 on audit documentation, SA 240 on auditor responsibilities relating to fraud, SA 250 on consideration of laws and regulations, SA 260 on communication with those charged with governance, SA 299 on responsibilities of joint auditors, SA 300 on planning an audit, and SA 310 on knowledge of the business. The standards provide requirements for auditors to plan and perform audits in accordance with relevant professional and regulatory standards.
The document outlines audit working paper purposes, contents, organization and types of audit evidence. It discusses how working papers support the audit opinion, substantiate competence, guide future audits and evaluate staff. Contents include entity information, risk assessments, audit programs, analyses, conclusions and representations. Organization includes permanent files on the client and current files indexing planning, compliance, balances and income/expenses. Evidence includes physical counts, confirmations, representations, documents, observation, accuracy checks and comparisons.
This document provides an overview of compliance with legal requirements for auditing in Pakistan. It covers the authority for appointing and removing statutory auditors, the procedures for appointment and removal, the powers and duties of statutory auditors, qualifications and disqualifications for the role, and requirements for auditing cost accounting records. The key points are:
- Appointment of first auditor is by directors, subsequent auditors are appointed by members at the AGM. SECP appoints if they fail to.
- Removal of auditors requires notice and they have rights to make representations.
- Statutory auditors have rights to access documents and require information from the company. Their duties include reporting on financial statements and
The document discusses audit planning. It states that audit planning involves developing knowledge of the client's business, assessing risks, preparing an overall audit plan and audit program, and considering factors like the client's industry and accounting systems. The planning process aims to make the audit more effective and efficient by establishing a general strategy and approach. Key aspects of planning addressed include evaluating internal controls, setting materiality, determining the nature, timing and extent of procedures, and documenting and adjusting the plan as needed.
This document announces amendments to two Philippine Standards on Review Engagements (PSREs):
1) PSRE 2400 is amended to clarify that it applies to reviews of any historical financial information, excluding reviews conducted by an entity's auditor.
2) PSRE 2410 is amended to clarify that it applies to reviews of interim financial information as well as other historical financial information, when conducted by an entity's auditor.
3) The amendments were approved by the Auditing and Assurance Standards Council to clarify the scope and appropriate application of the two PSREs.
The document provides an overview of key concepts in auditing based on a study notes chapter. It discusses:
1) The components of a complete set of financial statements including the balance sheet, income statement, cash flow statement, statement of changes in equity, and notes to the accounts.
2) The two main types of financial reporting frameworks - compliance frameworks and fair presentation frameworks - and the concept of a true and fair view.
3) The responsibilities of various parties in an audit including management, those charged with governance, auditors, and stakeholders. It also discusses the expectation gap faced by auditors.
4) The scope of an audit and essentials for proper audit conduct including professional judgement, professional
The document discusses audit documentation and reporting requirements. It defines audit documentation as the principal record of audit procedures applied, evidence obtained, and conclusions reached by the auditor. Audit documentation serves to demonstrate that the audit was performed in accordance with standards and to provide a record of evidence in case it is needed for legal or regulatory proceedings. The document outlines the purpose, ownership, and confidentiality of audit documentation, as well as requirements for its organization, storage, and retention. It also discusses reporting requirements for auditors under the Companies Act regarding matters such as the Companies (Auditor's Report) Order and management explanations for adverse comments.
The document discusses audit evidence, which is information used by an auditor to arrive at conclusions to support the audit opinion. It should be sufficient and appropriate. Sufficiency refers to quantity and appropriateness to quality and relevance. The auditor considers inherent risk, control risk, materiality, and other factors to judge sufficient and appropriate evidence. Evidence comes from tests of controls, substantive procedures, and inquiries. It is used to evaluate financial statement assertions like existence, completeness, and valuation of assets and liabilities.
Quotes from published comments on Nordic Audit Standard "SASE" (google search)Lasse Åkerblad
Yttranden över förslag
Submission on consulting paper
Kommentit standardista
Några valda direkta citat ur yttrandena. Some selected direct quotes from the submissions. Otteita julkaistuista kannanotoista.
SASE, The Nordic Audit Standard for Small Entitites (draft). Implementation ...Lasse Åkerblad
A possible implementation of the standard will happen in a broad context. It is not only a technical issue and the context comes first; in Finland the Finnish.
Förslag till Nordisk standard för revision i mindre företag (SASE) - Mina kri...Lasse Åkerblad
En riktgivande konsekvensbedömning - det är här absolut inte enbart en fråga om standardens tekniska innehåll. Rubrikerna säkert i rätt rikning men innehållet kan alltid diskuteras!
1. The document discusses audit documentation, which provides evidence of the auditor's basis for conclusions and that the audit was performed according to standards. It assists auditors in planning, performing, and reviewing the audit.
2. The purposes of audit documentation include assisting the audit team, demonstrating the work was properly performed, and providing records for future audits. It guides auditors in providing reasonable assurance that documentation supports the audit evidence and conclusions in the report.
3. The document outlines specific requirements for audit documentation content, organization, and formats. It provides examples of typical documentation like audit programs, files, schedules, and issues analyses. Documentation ownership and confidentiality are also addressed.
The document summarizes key aspects of an examinable supplement issued by ICAP related to auditing. It covers 5 learning objectives:
1. Elements of an auditor's report under ISA 700 (revised).
2. Differences between report formats under ISA 700 versus Form 35A.
3. Determining and communicating key audit matters to those charged with governance.
4. Communication of key audit matters in the auditor's report for listed entities.
5. Revised definition and examples of emphasis of matter.
Auditor evaluates several matters before forming an opinion on financial statements, including whether misstatements or scope limitations exist, and if so, whether their effects are material or pervasive. The auditor must conclude that the financial statements present a true and fair view, include adequate disclosures, and have reasonable accounting estimates and policies selected, applied and disclosed in accordance with accounting standards. If a change in accounting policy occurs, the auditor will note the exception to consistent application in the report and refer to the related disclosure in the financial statements, stating whether concurrence with the change exists. When a misstatement is identified, the auditor accumulates all misstatements, evaluates whether uncorrected misstatements are material, and determines the effect on the audit report.
This SOP describes the procedure for following up on site audit findings. The auditor will prepare a draft audit report within a specified number of working days and ensure corrective actions are prepared and implemented by the site within required timelines. All corrective action documentation will be filed in the audit file. Once all issues have been resolved, copies of the report will be recalled and filed securely along with an audit log listing audited studies and sites.
This document outlines requirements for audit documentation according to standards set by the PCAOB. It defines audit documentation as the written record of the audit work performed, evidence obtained, and conclusions reached. Audit documentation supports the auditor's conclusions and representations in their report. It must contain sufficient information for another auditor to understand the work performed and conclusions reached. The documentation must also include any significant issues identified and how they were addressed. Audit documentation must be retained for seven years after the report release date.
The document provides information about engagement letters in an auditing context. It discusses the purposes of engagement letters, the key information that should be included in engagement letters, factors to consider when accepting changes to engagement terms, and circumstances where engagement letters may need to be revised for recurring audits. Specifically:
1. Engagement letters confirm the appointment of the auditor, define the scope and objectives of the audit, and outline the responsibilities of the auditor and management.
2. Key information in an engagement letter includes the scope and objective of the audit, applicable financial reporting framework, responsibilities of the auditor and management, expected audit report, and statement that the report may differ from expectations.
3. Auditors should only accept
This document summarizes the key points of an International Standard on Auditing (UK) regarding audit documentation:
1) It establishes requirements for audit documentation relating to the timing of preparation, documentation of procedures performed and evidence obtained, and assembly of the final audit file.
2) Audit documentation provides evidence of the audit work performed and conclusions reached, and promotes quality and consistency in the audit.
3) The auditor must document significant matters, judgments made, and any departures from audit standards. Audit documentation must be sufficient to allow an experienced auditor to understand the nature, timing and extent of procedures performed.
The document discusses audit documentation and working papers. It defines audit documentation as evidence of the auditor's work, including the basis for conclusions and compliance with standards. It notes that audit documentation provides evidence of planning and performance. It also defines internal and external documentation. The document then discusses the purpose and contents of audit working papers, including planning, supervision, and supporting the auditor's opinion. It provides examples of common working paper components and formatting conventions.
The document provides highlights of Standards on Auditing (SA) issued by the Institute of Chartered Accountants of India (ICAI). It summarizes key aspects of various SA standards including SA 200 on basic principles of an audit, SA 210 on terms of audit engagement, SA 220 on quality control, SA 230 on audit documentation, SA 240 on auditor responsibilities relating to fraud, SA 250 on consideration of laws and regulations, SA 260 on communication with those charged with governance, SA 299 on responsibilities of joint auditors, SA 300 on planning an audit, and SA 310 on knowledge of the business. The standards provide requirements for auditors to plan and perform audits in accordance with relevant professional and regulatory standards.
The document outlines audit working paper purposes, contents, organization and types of audit evidence. It discusses how working papers support the audit opinion, substantiate competence, guide future audits and evaluate staff. Contents include entity information, risk assessments, audit programs, analyses, conclusions and representations. Organization includes permanent files on the client and current files indexing planning, compliance, balances and income/expenses. Evidence includes physical counts, confirmations, representations, documents, observation, accuracy checks and comparisons.
This document provides an overview of compliance with legal requirements for auditing in Pakistan. It covers the authority for appointing and removing statutory auditors, the procedures for appointment and removal, the powers and duties of statutory auditors, qualifications and disqualifications for the role, and requirements for auditing cost accounting records. The key points are:
- Appointment of first auditor is by directors, subsequent auditors are appointed by members at the AGM. SECP appoints if they fail to.
- Removal of auditors requires notice and they have rights to make representations.
- Statutory auditors have rights to access documents and require information from the company. Their duties include reporting on financial statements and
The document discusses audit planning. It states that audit planning involves developing knowledge of the client's business, assessing risks, preparing an overall audit plan and audit program, and considering factors like the client's industry and accounting systems. The planning process aims to make the audit more effective and efficient by establishing a general strategy and approach. Key aspects of planning addressed include evaluating internal controls, setting materiality, determining the nature, timing and extent of procedures, and documenting and adjusting the plan as needed.
This document announces amendments to two Philippine Standards on Review Engagements (PSREs):
1) PSRE 2400 is amended to clarify that it applies to reviews of any historical financial information, excluding reviews conducted by an entity's auditor.
2) PSRE 2410 is amended to clarify that it applies to reviews of interim financial information as well as other historical financial information, when conducted by an entity's auditor.
3) The amendments were approved by the Auditing and Assurance Standards Council to clarify the scope and appropriate application of the two PSREs.
The document provides an overview of key concepts in auditing based on a study notes chapter. It discusses:
1) The components of a complete set of financial statements including the balance sheet, income statement, cash flow statement, statement of changes in equity, and notes to the accounts.
2) The two main types of financial reporting frameworks - compliance frameworks and fair presentation frameworks - and the concept of a true and fair view.
3) The responsibilities of various parties in an audit including management, those charged with governance, auditors, and stakeholders. It also discusses the expectation gap faced by auditors.
4) The scope of an audit and essentials for proper audit conduct including professional judgement, professional
The document discusses audit documentation and reporting requirements. It defines audit documentation as the principal record of audit procedures applied, evidence obtained, and conclusions reached by the auditor. Audit documentation serves to demonstrate that the audit was performed in accordance with standards and to provide a record of evidence in case it is needed for legal or regulatory proceedings. The document outlines the purpose, ownership, and confidentiality of audit documentation, as well as requirements for its organization, storage, and retention. It also discusses reporting requirements for auditors under the Companies Act regarding matters such as the Companies (Auditor's Report) Order and management explanations for adverse comments.
The document discusses audit evidence, which is information used by an auditor to arrive at conclusions to support the audit opinion. It should be sufficient and appropriate. Sufficiency refers to quantity and appropriateness to quality and relevance. The auditor considers inherent risk, control risk, materiality, and other factors to judge sufficient and appropriate evidence. Evidence comes from tests of controls, substantive procedures, and inquiries. It is used to evaluate financial statement assertions like existence, completeness, and valuation of assets and liabilities.
Quotes from published comments on Nordic Audit Standard "SASE" (google search)Lasse Åkerblad
Yttranden över förslag
Submission on consulting paper
Kommentit standardista
Några valda direkta citat ur yttrandena. Some selected direct quotes from the submissions. Otteita julkaistuista kannanotoista.
SASE, The Nordic Audit Standard for Small Entitites (draft). Implementation ...Lasse Åkerblad
A possible implementation of the standard will happen in a broad context. It is not only a technical issue and the context comes first; in Finland the Finnish.
Förslag till Nordisk standard för revision i mindre företag (SASE) - Mina kri...Lasse Åkerblad
En riktgivande konsekvensbedömning - det är här absolut inte enbart en fråga om standardens tekniska innehåll. Rubrikerna säkert i rätt rikning men innehållet kan alltid diskuteras!
Mejores practicas para la conceptualizacion de sistemas de softwareSoftware Guru
¿Buscas desesperadamente fracasar en entregar un desarrollo de software?
Te digo como: falla en acotar su alcance.
El mejor momento para simplificar un proyecto de desarrollo tecnológico es un concepción inicial.
Actividades tan aparentemente simples, pero recurrentemente ignoradas, son:
· unificar la visión de los actores relevantes
· acotar el proyecto a un mínimo viable
· documentar la visión y factores claves de éxito
· no poner de acuerdo a todos los involucrados en políticas y procesos
· poner al equipo de desarrollo y el cliente en una misma página
Queremos compartir con la comunidad desarrolladora de software el Innocamp; taller intensivo de diseño creado con un solo fin:
Levantar, acotar y arrancar un proceso de diseño profesional de software en un solo día.
Llevamos más de 5 años llevando a cabo talleres intensivos, divertidos, emocionantes y sumamente rentables enfocados a dar un paso sumamente sólido en el proceso de conceptualización y diseño de sistemas especializados de información.
¿Cuántas empresas de software carecen de un proceso ágil y eficaz de elicitación de requerimientos? ¿cuántos equipos de desarrollo hacen rentable el proceso de levantamiento inicial para poder cotizar?
Nosotros si y queremos compartirles cómo...
Ser socialmente responsable es ser competitivosignificarse
¿Quieres ser una empresa diferente? ¿Una empresa que destaque de las demás?
La Responsabilidad Social permite que una empresa se diferencie de las demás mediante valores. Valores sociales y medioambientales que van a proporcionar a la PYME una ventaja competitiva SOSTENIBLE.
El documento describe una visita de estudiantes a un centro de investigación ambiental donde observaron moritos comunes. Los estudiantes aprendieron sobre la morfología, alimentación, reproducción y hábitat del morito común a través de prismáticos, esqueletos, plumas y microscopios. El morito común anida en árboles cerca de marismas, poniendo entre 3-6 huevos azules que incuba durante 21 días.
El documento discute las sinergias entre el sector privado y público para superar la pobreza extrema en Colombia. Propone 1) aprender de experiencias privadas, 2) mejorar políticas públicas y coordinación, y 3) obtener ideas para generar empleo e ingresos. Se analizan las fortalezas de cada sector y la estrategia "Red Juntos" del gobierno. Finalmente, se debaten formas de ampliar la participación privada y mejorar las iniciativas conjuntas.
Este documento resume cómo la sociedad española ha ido deteriorándose en los últimos 30 años, pasando de valores como el honor, la patria y la religión a una sociedad más grosera, ignorante y falta de respeto por símbolos como la bandera. Se argumenta que no puede ser casualidad tantos cambios negativos y que debe haber fuerzas detrás orquestando este deterioro, aunque sea un tema del que pocos quieren hablar.
Cyrela - Institucional Presentation - November 2006Cyrela
Cyrela Brazil Realty has significantly grown its land bank through acquisitions and joint ventures. The land bank has increased by 27% to 5.9 million square meters of buildable area since the IPO, with potential sales of R$16 billion. Cyrela has also entered into four joint ventures with capital commitments of R$240 million to develop new projects, and acquired RJZ Empreendimentos Imobiliários Ltda to expand into the Rio de Janeiro market. This growth positions Cyrela to continue its leadership in the Brazilian real estate sector.
Este documento describe la comunicación en línea y el aprendizaje electrónico (e-learning). Explica que la comunicación en línea ocurre a través de Internet y tiene características como ser un canal universal, omnifuncional, bidireccional e interactivo. Describe dos tipos de ambientes de comunicación en línea: sincrónicos y asincrónicos. También define el e-learning y sus tres criterios fundamentales: funcionar en red, ser entregado a través de ordenadores usando Internet, y enfocarse en una visión amplia del aprendizaje. Final
Proyecto Hola Mundo java.Programación.Isabel Gómez
El documento describe los pasos para compilar un programa "Hola Mundo" en Java. Estos incluyen instalar el JDK, un editor de texto como Notepad++, crear el archivo Java "HolaMundo.java", configurar la variable de entorno PATH para que apunte al JDK, ejecutar el comando "javac" en el CMD para compilar el archivo a bytecode, y luego ejecutar el bytecode usando "java" para mostrar el mensaje.
Presentación Fidelizador.com: Plataforma de Email Marketing profesional.Fidelizador.com
Características y funcionalidades de www.fidelizador.com, plataforma de Email Marketing profesional.
Para solicitar un demo: http://www.fidelizador.com/solicitud-de-demo/
Este documento discute si las firmas biométricas en tabletas pueden ser consideradas firmas electrónicas reconocidas de acuerdo a la ley. Explica que actualmente las firmas biométricas en tabletas no cumplen con los requisitos para ser firmas electrónicas reconocidas, pero podrían ser consideradas firmas electrónicas avanzadas dependiendo del sistema y su nivel tecnológico. Concluye que aunque estas firmas biométricas no son actualmente firmas electrónicas reconocidas, la normativa debería actualizarse
Calidad en Educación–Autoevaluación Institucional: Herramientas para una gestión responsable
Abstract:
En el Grupo Educativo Marín aplican modelos de planeamiento y autoevaluación institucional con el fin de identificar oportunidades para mejorar su tarea de todos los días. Creen que, dentro de lo complejo y particular de las organizaciones educativas, es posible aplicar herramientas de gestión que los desafíen a hacerse cargo de los resultados que logran sus alumnos. Compartirán su experiencia y algunas conclusiones que permitan reflexionar en esta dirección.
Disertante: Carlos Horacio Bruno
Docente Especializado en Gestión, Calidad y Tecnologías de la información. Responsable del diseño, implementación y certificación internacional de Sistemas de Gestión. Líder de presentaciones institucionales ganadoras al Premio Nacional a la Calidad y al Premio Iberoamericano de la Calidad. Responsable del diseño e implementación del Proyecto Universitario de la Universidad de San Isidro “Dr. Plácido Marín” Res. CONEAU 417/10
www.congresodecalidad.com.ar
A implantação da Lei Seca no Brasil teve efeitos positivos, como a redução no número de acidentes e mortes no trânsito relacionados ao álcool. No entanto, também gerou alguns impactos negativos que devem ser abordados para aperfeiçoar a legislação e proteger os direitos humanos. Uma proposta é ampliar a conscientização sobre os riscos do álcool ao volante associada a campanhas de incentivo ao uso de transportes alternativos.
Presentation of the Cloud4all project and its application to patients with dementia and carers using Maavis by Steve Lee from OpenDirective. This presentation took place in the ApacheCon Europe 2012, that took place in Rhein-Neckar-Arena, Sinsheim, Germany, on November 6, 2012.
El documento discute los retos de la ingeniería en el siglo XXI. Señala que los nuevos avances tecnológicos requieren nuevas áreas de conocimiento, pero que Venezuela enfrenta un cuadro crítico con obsolescencia industrial. Los retos incluyen mejorar la formación de ingenieros y la colaboración entre universidades, industria y el Estado para lograr competitividad internacional.
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Nia 230 Documentacion De Auditoria 2009 En Inglesguest4a971d
This document provides requirements and guidance for audit documentation. It defines audit documentation and establishes that the auditor must prepare documentation on a timely basis that provides sufficient evidence of the procedures performed, evidence obtained, and conclusions reached. It requires documentation of significant matters, departures from requirements, and post-report work. It also addresses assembly and retention of the final audit file.
Isa 620 Using The Work Of An Auditor’S Expert En Inglesguest4a971d
This document provides guidance for auditors on using the work of an auditor's expert. It defines an auditor's expert as someone with expertise other than accounting or auditing whose work assists the auditor. It establishes the auditor's responsibilities regarding determining when expert assistance is needed, evaluating the expert's competence and objectivity, understanding their work, agreeing on roles, and assessing if the expert's work is adequate to support the audit opinion. The auditor remains solely responsible for the audit opinion, even when using an expert's work.
Isa 300 Planning An Audit Of Financial Statements En Inglesguest4a971d
The document is an International Standard on Auditing that provides guidance on planning an audit of financial statements. It discusses the importance of planning, establishing an overall audit strategy, developing an audit plan, and documenting the strategy and plan. It requires the involvement of key engagement team members in planning. It also discusses additional considerations for initial audit engagements.
This document discusses audit documentation standards and requirements. It defines audit documentation as the record of audit procedures performed, evidence obtained, and conclusions reached. Proper documentation provides evidence that the audit was conducted in accordance with standards and complies with legal obligations. Documentation should provide sufficient information to justify the auditor's report and show that the audit was adequately planned and executed. Examples of documentation include audit programs, management representation letters, checklists, and summaries. Documentation is the auditor's property but some information may be shared with clients if it does not undermine the audit's validity.
This document is an International Standard on Auditing (UK) that provides requirements and guidance for auditors regarding subsequent events. It defines key terms related to subsequent events, such as the date of the financial statements and the date of the auditor's report. It outlines the auditor's responsibilities to perform procedures to identify events after the financial statement date that require adjustment to or disclosure in the financial statements. It also addresses the auditor's responsibilities if subsequent events are identified after the date of the auditor's report but before the financial statements are issued, or if they are identified after the financial statements have been issued. The standard is effective for audits of financial statements with periods ending on or after December 15, 2010.
The stages of an external audit are:
1. Audit acceptance which involves agreeing terms of reference, addressing legal and ethical considerations, and preparing an engagement letter.
2. Audit planning and control which involves developing an overall strategy, establishing objectives and scope, and planning to reduce audit risk.
3. Performing the audit which involves obtaining evidence through tests of controls and substantive procedures, evaluating misstatements, and forming an opinion.
1. The document discusses audit documentation, which provides evidence of the auditor's basis for conclusions and that the audit was performed according to standards. It assists auditors in planning, performing, and reviewing the audit.
2. The purposes of audit documentation include assisting the audit team, demonstrating the work was done properly, and providing records for future audits. It guides auditors in providing reasonable assurance that documentation supports the audit evidence and conclusions in the report.
3. The document outlines the specific requirements for audit documentation content, organization, and typical elements. It also discusses ownership, confidentiality of working papers, and defines an audit program as a detailed listing of audit procedures to implement the audit plan.
This document is an International Standard on Auditing (ISA) that provides guidance on applying the concept of materiality in planning and performing an audit. It discusses determining materiality for the financial statements as a whole and for particular classes, accounts, or disclosures. It also addresses setting performance materiality at an amount less than overall materiality to appropriately reduce audit risk, and revising materiality as the audit progresses if needed. The objective is to appropriately apply materiality in planning and performing the audit.
Working papers are notes recorded by auditors regarding procedures performed, evidence obtained, and conclusions during an audit. They serve to plan the audit, record evidence and test results, determine the audit opinion, and allow for review and supervision. Working papers are owned by the audit firm but must be kept confidential, with the auditor only disclosing information with client consent or as required by law. Working papers should be complete, clear, organized and support the audit observations, testing, conclusions and recommendations. They contain details of audit planning, execution and evidence, and are retained according to professional and legal standards.
The document outlines requirements for audit documentation according to standards set by the PCAOB. Audit documentation provides written evidence of the audit procedures performed, evidence obtained, and conclusions reached. It must include enough detail to allow an experienced auditor not connected to the audit to understand the work done. Significant audit findings and issues must be documented along with their resolution. Documentation must be retained for seven years after the audit report release date.
A U D I T D O C U M E N T A T I O N P R E S E N T A T I O NKarim70
The document outlines requirements for audit documentation according to standards set by the PCAOB. Audit documentation provides written evidence of the audit procedures performed, evidence obtained, and conclusions reached. It must include enough detail to allow an experienced auditor not connected to the audit to understand the work done. Significant audit findings and issues must be documented along with their resolution. Documentation must be retained for seven years after the audit report release date.
AUDIT WORKING PAPERS -OWNERSHIP AND CUSTODY-PPTHeldaMaryA
Audit working papers are documents and evidence collected by auditors during an audit. They include documentation of audit procedures performed, evidence obtained, and work allocated among audit team members. Working papers provide legal evidence to support the auditor's opinion on the client's financial statements and show that the audit was properly planned and supervised. They are prepared by audit staff and reviewed by senior auditors. Working papers belong to the auditor but contain confidential client information.
C:\fakepath\isa 810 engagements to report on summary financial statements en ...guest4a971d
The document outlines International Standards on Auditing for engagements to report on summary financial statements. It provides requirements for auditors to:
- Accept the engagement only if they have audited the underlying financial statements
- Determine if the criteria for preparing the summary statements are acceptable
- Obtain management agreement to make the audited statements available and include the auditor's report
- Compare the summary statements to the audited statements to evaluate if they are consistent
- Evaluate if the summary statements properly disclose their nature and provide necessary information without being misleading.
Isa 700 Forming An Opinion And Reporting On Financial Statements En Inglesguest4a971d
- The document is an international standard on auditing that deals with an auditor's responsibility to form an opinion on financial statements and to express that opinion clearly in a written audit report.
- The objectives of the auditor are to form an opinion on whether the financial statements are prepared in accordance with the applicable financial reporting framework, and to express this opinion clearly in the audit report.
- The auditor must conclude whether sufficient appropriate audit evidence was obtained to form an opinion, whether any uncorrected misstatements are material, and whether various qualitative aspects of the financial statements are in accordance with the financial reporting framework.
(Audit evidence) The third GAAS of field work requires that the audito.docxdorisc7
(Audit evidence) The third GAAS of field work requires that the auditor obtain sufficient competent audit evidence to afford a reasonable basis for an opinion regarding the financial statements under audit. In considering what constitutes sufficient competent evidential matter, a distinction should be made between underlying accounting records and other information available to the auditor.
Required
Discuss the nature of audit evidence to be considered by the auditor in terms of the underlying accounting records, other corroborating information available to the auditor, and the methods by which the auditor tests or gathers competent evidence.
State the presumptions that can be made about the validity of audit evidence with respect to (1) other information and (2) underlying accounting records.
AICPA (adapted)
Solution
Audit evidence
the information available the auditor in arriving at the conclusions in which the audit opinion is based and includes the information contained in the accounting records underlying the financial statement and other informations.the auditor should obtain the audit evidence by testing the accounting records , by analysis and by review. the accounting records some times cannot give the full evidence.the sufficient and approprate evidence is based on the quality of the evidence.some of the SAAs guidliness are given below
1.the evidence are obtained by directly by the auditor. it is more relaible than indirectly obtained by the individual.
2. evidence are more relaible isobtained from the uotside of the entity
3.evidence is more reliable when it is in documentary form.
accounting records
the accounting records involving the evidence of the internal control over financial reporting.it also check reports such as cheks, invoices,contracts,etc..
the important audit procedures are
1.to understand client and industry : priliminary planning and risk analysis
2.access the risk of meterial misstatement : understand and test internal controls and system processing
3.to gather evidence related to account balance and transactions.
.
- The document provides guidance for auditors on applying the concept of materiality in planning and performing an audit of financial statements. It discusses determining materiality for the financial statements as a whole and for particular classes of transactions, account balances, or disclosures.
- The document emphasizes that materiality is a matter of professional judgment and is affected by factors like the auditor's perception of user needs, the applicable financial reporting framework, the size or nature of misstatements, and the circumstances in which they occur.
- The auditor is instructed to determine performance materiality at less than the materiality level to reduce the risk that uncorrected misstatements exceed materiality. Materiality levels may need revision as the audit progresses based on new
This document provides guidance for external auditors on using the work of internal auditors when conducting an audit of financial statements. It defines key terms related to internal auditing and sets requirements for external auditors to evaluate the objectivity, technical competence, due care, and effective communication of the internal audit function. The external auditor is responsible for determining if and how to use specific internal audit work and for evaluating the adequacy of any work used from the internal auditors.
Similar to Comparing SASE (Nordic Audit Standard for Small Entities) and ISA 230 documentation (20)
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Karkea [google]käännös ranskankielisestä versiosta englanniksi. Tarkoitettu antamaan kuvaa siitä, millainen erillistandardi VOISI näyttää (vertaa IAASB:n LCE-projekti).
Std ei ole lakisääteinen, Se on tarkoitettu vapaaehtoiseen varmennukseen lakisääteisen rajan (9 m€ liikev) alapuolella. Samassa standardissa sekä review että tilintarkastus - On siksi "fiksu vekotin". Mahdolliset korostukset tekstissä on allekirjoittaneen.
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Comparing SASE (Nordic Audit Standard for Small Entities) and ISA 230 documentation
1. ISA 230 142
INTERNATIONAL STANDARD ON AUDITING 230
AUDIT DOCUMENTATION
(Effective for audits of financial statements for periods
beginning on or after December 15, 2009)
CONTENTS
Paragraph
Introduction
Scope of this ISA ........................................................................................ 1
Nature and Purposes of Audit Documentation ............................................ 2−3
Effective Date ............................................................................................. 4
Objective .................................................................................................... 5
Definitions .................................................................................................. 6
Requirements
Timely Preparation of Audit Documentation .............................................. 7
Documentation of the Audit Procedures Performed and Audit
Evidence Obtained ............................................................................... 8−13
Assembly of the Final Audit File ................................................................ 14−16
Application and Other Explanatory Material
Timely Preparation of Audit Documentation .............................................. A1
Documentation of the Audit Procedures Performed and Audit
Evidence Obtained ............................................................................... A2−A20
Assembly of the Final Audit File ................................................................ A21−A24
Appendix: Specific Audit Documentation Requirements in Other ISAs
International Standard onAuditing (ISA) 230, “Audit Documentation” should be read
in conjunction with ISA200, “Overall Objectives of the IndependentAuditor and the
Conduct of an Audit in Accordance with International Standards on Auditing.”
NRF: STANDARD FOR AUDITS OF SMALL ENTITIES (SASE, Draft June 2015)
1 GENERAL PRINCIPLES AND RESPONSIBILITIES
1.5 Documenting the engagement
= Highlighted text is to be found in SASE
100% = word for word compliance
"Comparing SASE and ISAs
Lasse Åkerblad 1.10.2015
(My personal comments in blue)
Pages 6-7
include the full text
from SASE 1.5.
2. AUDIT DOCUMENTATION
ISA 230143
AUDITING
Introduction
Scope of this ISA
1. This International Standard on Auditing (ISA) deals with the auditor’s
responsibility to prepare audit documentation for an audit of financial
statements. The Appendix lists other ISAs that contain specific documentation
requirements and guidance. The specific documentation requirements of other
ISAs do not limit the application of this ISA. Law or regulation may establish
additional documentation requirements.
Nature and Purposes of Audit Documentation
2. Audit documentation that meets the requirements of this ISA and the specific
documentation requirements of other relevant ISAs provides:
(a) Evidence of the auditor’s basis for a conclusion about the achievement
of the overall objectives of the auditor;1
and
(b) Evidence that the audit was planned and performed in accordance with
ISAs and applicable legal and regulatory requirements.
3. Audit documentation serves a number of additional purposes, including the
following:
• Assisting the engagement team to plan and perform the audit.
• Assisting members of the engagement team responsible for supervision
to direct and supervise the audit work, and to discharge their review
responsibilities in accordance with ISA 220.2
• Enabling the engagement team to be accountable for its work.
• Retaining a record of matters of continuing significance to future audits.
• Enabling the conduct of quality control reviews and inspections in
accordance with ISQC 13
or national requirements that are at least as
demanding.4
• Enabling the conduct of external inspections in accordance with
applicable legal, regulatory or other requirements.
1
ISA 200, “Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance
with International Standards on Auditing,” paragraph 11.
2
ISA 220, “Quality Control for an Audit of Financial Statements,” paragraphs 15–17.
3
ISQC 1, “Quality Control for Firms that PerformAudits and Reviews of Financial Statements, and Other
Assurance and Related Services Engagements,” paragraphs 32–33, 35–38, and 48.
4
ISA 220, paragraph 2.
3. AUDIT DOCUMENTATION
ISA 230 144
Effective Date
4. This ISA is effective for audits of financial statements for periods beginning on
or after December 15, 2009.
Objective
5. The objective of the auditor is to prepare documentation that provides:
(a) Asufficient and appropriate record of the basis for the auditor’s report; and
(b) Evidence that the audit was planned and performed in accordance with
ISAs and applicable legal and regulatory requirements.
Definitions
6. Forpurposesof theISAs, thefollowing terms havethe meaningsattributedbelow:
(a) Auditdocumentation–Therecord of auditproceduresperformed,relevant
auditevidenceobtained,andconclusionstheauditorreached(termssuchas
“working papers” or “workpapers” are also sometimes used).
(b) Audit file – One or more folders or other storage media, in physical or
electronic form, containing the records that comprise the audit
documentation for a specific engagement.
(c) Experienced auditor – An individual (whether internal or external to the
firm) who has practical audit experience, and a reasonable understanding
of:
(i) Audit processes;
(ii) ISAs and applicable legal and regulatory requirements;
(iii) The business environment in which the entity operates; and
(iv) Auditing and financial reporting issues relevant to the entity’s
industry.
Requirements
Timely Preparation of Audit Documentation
7. The auditor shall prepare audit documentation on a timely basis. (Ref: Para. A1)
Documentation of the Audit Procedures Performed and Audit Evidence
Obtained
Form, Content and Extent of Audit Documentation
8. The auditor shall prepare audit documentation that is sufficient to enable an
experienced auditor, having no previous connection with the audit, to
understand: (Ref: Para. A2–A5, A16–A17)
The auditor shall...
100 %
100%
100%
This is not an "objective" in SASE,¨
it is a "requirement".
1.5 DOCUMENTING THE ENGAGEMENT
Documentation Requirements
4. AUDIT DOCUMENTATION
ISA 230145
AUDITING
(a) The nature, timing and extent of the audit procedures performed to
comply with the ISAs and applicable legal and regulatory requirements;
(Ref: Para. A6–A7)
(b) The results of the audit procedures performed, and the audit evidence
obtained; and
(c) Significant matters arising during the audit, the conclusions reached
thereon, and significant professional judgments made in reaching those
conclusions. (Ref: Para. A8–A11)
9. In documenting the nature, timing and extent of audit procedures performed,
the auditor shall record:
(a) The identifying characteristics of the specific items or matters tested;
(Ref: Para. A12)
(b) Whoperformed the auditworkand thedatesuch work wascompleted;and
(c) Who reviewed the audit work performed and the date and extent of such
review. (Ref: Para. A13)
10. The auditor shall document discussions of significant matters with
management, those charged with governance, and others, including the nature
of the significant matters discussed and when and with whom the discussions
took place. (Ref: Para. A14)
11. If the auditor identified information that is inconsistent with the auditor’s final
conclusion regarding a significant matter, the auditor shall document how the
auditor addressed the inconsistency. (Ref: Para. A15)
Departure from a Relevant Requirement
12. If, in exceptional circumstances, the auditor judges it necessary to depart from
a relevant requirement in an ISA, the auditor shall document how the
alternative audit procedures performed achieve the aim of that requirement, and
the reasons for the departure. (Ref: Para. A18–A19)
Matters Arising after the Date of the Auditor’s Report
13. If, in exceptional circumstances, the auditor performs new or additional audit
procedures or draws new conclusions after the date of the auditor’s report, the
auditor shall document: (Ref: Para. A20)
(a) The circumstances encountered;
(b) Theneworadditionalauditproceduresperformed,auditevidenceobtained,
and conclusions reached, and their effect on the auditor’s report; and
(c) When and by whom the resulting changes to audit documentation were
made and reviewed.
100%
"shall prepare documentation.."
100%
When matters arise that are
required by this standard....
[ ]
"including the..
Included in 1.4 AUDIT
EVIDENCE (last bullet)
[
]
The auditor has no obligation to perform any audit procedures regarding the financial statements after the date of the auditor’s report.
However, if the auditor becomes aware of facts or events that may have an impact on the auditor’s conclusion:
after the date of the auditor’s report but before the financial statements are issued, or
after the financial statements have been issued,
the auditor shall perform additional procedures and evaluate the impact on the auditor’s report
SASE 6.2 SUBSEQUENT EVENTS
100%
100%
5. AUDIT DOCUMENTATION
ISA 230 146
Assembly of the Final Audit File
14. The auditor shall assemble the audit documentation in an audit file and
complete the administrative process of assembling the final audit file on a
timely basis after the date of the auditor’s report. (Ref: Para. A21–A22)
15. After the assembly of the final audit file has been completed, the auditor shall
not delete or discard audit documentation of any nature before the end of its
retention period. (Ref: Para. A23)
16. In circumstances other than those envisaged in paragraph 13 where the auditor
finds it necessary to modify existing audit documentation or add new audit
documentation after the assembly of the final audit file has been completed, the
auditor shall, regardless of the nature of the modifications or additions,
document: (Ref: Para. A24)
(a) The specific reasons for making them; and
(b) When and by whom they were made and reviewed.
***
Application and Other Explanatory Material
Timely Preparation of Audit Documentation (Ref: Para. 7)
A1. Preparing sufficient and appropriate audit documentation on a timely basis
helps to enhance the quality of the audit and facilitates the effective review and
evaluation of the audit evidence obtained and conclusions reached before the
auditor’s report is finalized. Documentation prepared after the audit work has
been performed is likely to be less accurate than documentation prepared at the
time such work is performed.
Documentation of the Audit Procedures Performed and Audit Evidence
Obtained
Form, Content and Extent of Audit Documentation (Ref: Para. 8)
A2. The form, content and extent of audit documentation depend on factors such as:
• The size and complexity of the entity.
• The nature of the audit procedures to be performed.
• The identified risks of material misstatement.
• The significance of the audit evidence obtained.
• The nature and extent of exceptions identified.
100%
13: Matters Arising after the Date
of the Auditor’s Report
NO SUCH MATERIAL INCLUDED IN SASE
Covers the requirement in
ISA 13. above.
If
6. STANDARD FOR AUDITS OF SMALL ENTITIES
3
June 4th
2015
1.4 AUDIT EVIDENCE
When obtaining information to be used as audit evidence, the auditor shall consider the relevance and
reliability of the information. The source of the information, original vs. copy and written vs. oral
information, influence the auditor’s considerations of the reliability.
When using information produced by the entity, the auditor shall evaluate the accuracy and
completeness of the information, and whether the information is sufficiently precise and detailed for
the auditor’s purposes.
When using information prepared by management’s experts, external experts or other auditors, the
auditor shall, to the extent necessary:
evaluate the competence, capabilities and objectivity of those who have prepared the
information;
consider the need for direct communication or other appropriate actions with the expert or
other auditor; and
evaluate whether the auditor can rely on the information as audit evidence.
Unless the auditor has reason to believe the contrary, the auditor may accept records and documents as
genuine. If conditions identified during the audit cause the auditor to believe that a document may not
be authentic or that terms in a document have been modified but not disclosed to the auditor, the
auditor shall investigate further.
If the auditor during the audit identifies exceptions, differences or non-compliance, the auditor shall
consider the impact to the audit and consider modifications or additions to the audit procedures.
The auditor shall determine what modifications or additions to audit procedures are necessary to
resolve any inconsistencies or doubts, and shall consider their effect on other aspects of the audit and
document how the auditor addressed the inconsistency, if:
audit evidence obtained from one source is inconsistent with that obtained from another;
the auditor has doubts over the reliability of information to be used as audit evidence;
if responses to inquiries of management or those charged with governance are inconsistent;
and
if the auditor identified information that is inconsistent with the auditor’s final conclusion
regarding a significant matter.
1.5 DOCUMENTING THE ENGAGEMENT
The auditor shall prepare documentation that provides:
a sufficient and appropriate record of the basis for the auditor’s report; and
evidence that the audit was planned and performed in accordance with this standard and
applicable legal and regulatory requirements.
1.5.1 Documentation Requirements
The auditor shall prepare audit documentation on a timely basis that is sufficient to enable an
experienced auditor, having no previous connection with the audit, to understand:
the nature, timing and extent of the audit procedures planned and performed to comply with
this standard and applicable legal and regulatory requirements, including significant changes
made during the audit;
o who performed the work and when, and
o who performed the review and when.
the results of the audit procedures performed, and the audit evidence obtained, including the
characteristics of the specific items or matters tested; and
AUDIT DOCUMENTATION
Requirements
ISA 300.12 c PLANNING AN AUDIT OF FINANCIAL STATEMENTS Documentation
HIGLIGHTED TEXT ARE EXTRACTS WORD BY WORD
FROM DIFFERENT ISAs (yellow 230, blue 260 and 300)
FULL TEXT FROM SASE:
7. STANDARD FOR AUDITS OF SMALL ENTITIES
4
June 4th
2015
significant matters arising during the audit, the conclusions reached thereon, and significant
professional judgments made in reaching those conclusions.
Where matters arise that are required by this standard to be communicated with management, and
those charged with governance, the auditor shall include them, and when and to whom they were
communicated, in the audit documentation. The auditor shall document discussions of significant
matters with management, those charged with governance, and others, including the nature of the
significant matters discussed and when and with whom the discussions took place.
1.5.2 Assembly of the Final Audit File
The auditor shall assemble the audit documentation in an audit file and complete the administrative
process of assembling the final audit file on a timely basis after the date of the auditor’s report. After
the assembly of the final audit file, the auditor shall not delete or discard audit documentation of any
nature before the end of its retention period. If the auditor finds it necessary to modify existing audit
documentation or add new audit documentation after the assembly of the final audit file has been
completed, the auditor shall, regardless of the nature of the modifications or additions, document: the
specific reasons for making them; and when and by whom they were made and reviewed
1.6 COMMUNICATION WITH MANAGEMENT AND THOSE CHARGED WITH
GOVERNANCE
The auditor shall communicate with management, and those charged with governance, on a timely
basis. Matters to be communicated include;
significant findings from the audit;
o the auditor’s views about qualitative aspects of the entity’s accounting practices,
including accounting policies, accounting estimates and financial statement
disclosures.
o identified control deficiencies
o identified misstatements
o identified fraud or information that indicates that a fraud may exist
o identified or suspect non-compliance with laws or regulations with relevance for the
audit
modifications to, emphasis of matter and other matters in the auditor’s report;
communication requirements in laws and regulation;
other matters, if any, arising from the audit that, in the auditor’s professional judgment, are
significant to the financial statements and the financial reporting process.
The auditor shall use professional judgment in determining the appropriate form of communicating
with management and those charged with governance. When determining the form of communication,
oral vs. written, the auditor shall consider;
legal requirements for communication
the significance of the matters to be communicated
other matters when oral communication would not be adequate
Assembly of the Final Audit File
Where
260.23 Audit documentation (ISA 260 COMMUNICATION WITH THOSE CHARGED WITH GOVERNANCE)
8. AUDIT DOCUMENTATION
ISA 230 146
Assembly of the Final Audit File
14. The auditor shall assemble the audit documentation in an audit file and
complete the administrative process of assembling the final audit file on a
timely basis after the date of the auditor’s report. (Ref: Para. A21–A22)
15. After the assembly of the final audit file has been completed, the auditor shall
not delete or discard audit documentation of any nature before the end of its
retention period. (Ref: Para. A23)
16. In circumstances other than those envisaged in paragraph 13 where the auditor
finds it necessary to modify existing audit documentation or add new audit
documentation after the assembly of the final audit file has been completed, the
auditor shall, regardless of the nature of the modifications or additions,
document: (Ref: Para. A24)
(a) The specific reasons for making them; and
(b) When and by whom they were made and reviewed.
***
Application and Other Explanatory Material
Timely Preparation of Audit Documentation (Ref: Para. 7)
A1. Preparing sufficient and appropriate audit documentation on a timely basis
helps to enhance the quality of the audit and facilitates the effective review and
evaluation of the audit evidence obtained and conclusions reached before the
auditor’s report is finalized. Documentation prepared after the audit work has
been performed is likely to be less accurate than documentation prepared at the
time such work is performed.
Documentation of the Audit Procedures Performed and Audit Evidence
Obtained
Form, Content and Extent of Audit Documentation (Ref: Para. 8)
A2. The form, content and extent of audit documentation depend on factors such as:
• The size and complexity of the entity.
• The nature of the audit procedures to be performed.
• The identified risks of material misstatement.
• The significance of the audit evidence obtained.
• The nature and extent of exceptions identified.
100%
13: Matters Arising after the Date
of the Auditor’s Report
NO EXPLANATORY MATERIAL INCLUDED IN SASE
Covers the requirement in
ISA 13. above.
If
ISA 230 CONTINUE
9. AUDIT DOCUMENTATION
ISA 230147
AUDITING
• The need to document a conclusion or the basis for a conclusion not
readily determinable from the documentation of the work performed or
audit evidence obtained.
• The audit methodology and tools used.
A3. Audit documentation may be recorded on paper or on electronic or other
media. Examples of audit documentation include:
• Audit programs.
• Analyses.
• Issues memoranda.
• Summaries of significant matters.
• Letters of confirmation and representation.
• Checklists.
• Correspondence (including e-mail) concerning significant matters.
The auditor may include abstracts or copies of the entity’s records (for
example, significant and specific contracts and agreements) as part of audit
documentation. Audit documentation, however, is not a substitute for the
entity’s accounting records.
A4. The auditor need not include in audit documentation superseded drafts of
working papers and financial statements, notes that reflect incomplete or
preliminary thinking, previous copies of documents corrected for typographical
or other errors, and duplicates of documents.
A5. Oral explanations by the auditor, on their own, do not represent adequate support
for the work the auditor performed or conclusions the auditor reached, but may be
used to explain or clarify information contained in the audit documentation.
Documentation of Compliance with ISAs (Ref: Para. 8(a))
A6. In principle, compliance with the requirements of this ISA will result in the
audit documentation being sufficient and appropriate in the circumstances.
Other ISAs contain specific documentation requirements that are intended to
clarify the application of this ISA in the particular circumstances of those other
ISAs. The specific documentation requirements of other ISAs do not limit the
application of this ISA. Furthermore, the absence of a documentation
requirement in any particular ISA is not intended to suggest that there is no
documentation that will be prepared as a result of complying with that ISA.
A7. Audit documentation provides evidence that the audit complies with the ISAs.
However, it is neither necessary nor practicable for the auditor to document
every matter considered, or professional judgment made, in an audit. Further, it
10. AUDIT DOCUMENTATION
ISA 230 148
is unnecessary for the auditor to document separately (as in a checklist, for
example) compliance with matters for which compliance is demonstrated by
documents included within the audit file. For example:
• The existence of an adequately documented audit plan demonstrates
that the auditor has planned the audit.
• The existence of a signed engagement letter in the audit file demonstrates
that the auditor has agreed the terms of the audit engagement with
management or, where appropriate, those charged with governance.
• An auditor’s report containing an appropriately qualified opinion on the
financial statements demonstrates that the auditor has complied with the
requirement to express a qualified opinion under the circumstances
specified in the ISAs.
• In relation to requirements that apply generally throughout the audit,
there may be a number of ways in which compliance with them may be
demonstrated within the audit file:
○ For example, there may be no single way in which the auditor’s
professionalskepticismisdocumented.Buttheauditdocumentation
may nevertheless provide evidence of the auditor’s exercise of
professionalskepticisminaccordancewiththeISAs.Suchevidence
may include specific procedures performed to corroborate
management’s responses to the auditor’s inquiries.
○ Similarly, that the engagement partner has taken responsibility
for the direction, supervision and performance of the audit in
compliance with the ISAs may be evidenced in a number of
ways within the audit documentation. This may include
documentation of the engagement partner’s timely involvement
in aspects of the audit, such as participation in the team
discussions required by ISA 315.5
Documentation of Significant Matters and Related Significant Professional
Judgments (Ref: Para. 8(c))
A8. Judging the significance of a matter requires an objective analysis of the facts
and circumstances. Examples of significant matters include:
• Matters that give rise to significant risks (as defined in ISA 315).6
5
ISA 315, “Identifying and Assessing the Risks of Material Misstatement through Understanding the
Entity and Its Environment,” paragraph 10.
6
ISA 315, paragraph 4(e).
11. AUDIT DOCUMENTATION
ISA 230149
AUDITING
• Results of audit procedures indicating (a) that the financial statements
could be materially misstated, or (b) a need to revise the auditor’s
previous assessment of the risks of material misstatement and the
auditor’s responses to those risks.
• Circumstances that cause the auditor significant difficulty in applying
necessary audit procedures.
• Findings that could result in a modification to the audit opinion or the
inclusion of an Emphasis of Matter paragraph in the auditor’s report.
A9. An important factor in determining the form, content and extent of audit
documentation of significant matters is the extent of professional judgment
exercised in performing the work and evaluating the results. Documentation of
the professional judgments made, where significant, serves to explain the
auditor’s conclusions and to reinforce the quality of the judgment. Such matters
are of particular interest to those responsible for reviewing audit
documentation, including those carrying out subsequent audits when reviewing
matters of continuing significance (for example, when performing a
retrospective review of accounting estimates).
A10. Some examples of circumstances in which, in accordance with paragraph 8, it
is appropriate to prepare audit documentation relating to the use of professional
judgment include, where the matters and judgments are significant:
• The rationale for the auditor’s conclusion when a requirement provides
that the auditor “shall consider” certain information or factors, and that
consideration is significant in the context of the particular engagement.
• The basis for the auditor’s conclusion on the reasonableness of areas of
subjective judgments (for example, the reasonableness of significant
accounting estimates).
• The basis for the auditor’s conclusions about the authenticity of a
document when further investigation (such as making appropriate use
of an expert or of confirmation procedures) is undertaken in response to
conditions identified during the audit that caused the auditor to believe
that the document may not be authentic.
A11. The auditor may consider it helpful to prepare and retain as part of the audit
documentation a summary (sometimes known as a completion memorandum)
that describes the significant matters identified during the audit and how they
were addressed, or that includes cross-references to other relevant supporting
audit documentation that provides such information. Such a summary may
facilitate effective and efficient reviews and inspections of the audit
documentation, particularly for large and complex audits. Further, the
preparation of such a summary may assist the auditor’s consideration of the
significant matters. It may also help the auditor to consider whether, in light of
12. AUDIT DOCUMENTATION
ISA 230 150
the audit procedures performed and conclusions reached, there is any
individual relevant ISA objective that the auditor cannot achieve that would
prevent the auditor from achieving the overall objectives of the auditor.
Identification of Specific Items or Matters Tested, and of the Preparer and Reviewer
(Ref: Para. 9)
A12. Recording the identifying characteristics serves a number of purposes. For
example, it enables the engagement team to be accountable for its work and
facilitates the investigation of exceptions or inconsistencies. Identifying
characteristics will vary with the nature of the audit procedure and the item or
matter tested. For example:
• For a detailed test of entity-generated purchase orders, the auditor may
identify the documents selected for testing by their dates and unique
purchase order numbers.
• For a procedure requiring selection or review of all items over a specific
amount from a given population, the auditor may record the scope of
the procedure and identify the population (for example, all journal
entries over a specified amount from the journal register).
• For a procedure requiring systematic sampling from a population of
documents, the auditor may identify the documents selected by
recording their source, the starting point and the sampling interval (for
example, a systematic sample of shipping reports selected from the
shipping log for the period from April 1 to September 30, starting with
report number 12345 and selecting every 125th report).
• For a procedure requiring inquiries of specific entity personnel, the
auditor may record the dates of the inquiries and the names and job
designations of the entity personnel.
• For an observation procedure, the auditor may record the process or
matter being observed, the relevant individuals, their respective
responsibilities, and where and when the observation was carried out.
A13. ISA 220 requires the auditor to review the audit work performed through
review of the audit documentation.7
The requirement to document who
reviewed the audit work performed does not imply a need for each specific
working paper to include evidence of review. The requirement, however,
means documenting what audit work was reviewed, who reviewed such work,
and when it was reviewed.
7
ISA 220, paragraph 17.
13. AUDIT DOCUMENTATION
ISA 230151
AUDITING
Documentation of Discussions of Significant Matters with Management, Those
Charged with Governance, and Others (Ref: Para. 10)
A14. The documentation is not limited to records prepared by the auditor but may
include other appropriate records such as minutes of meetings prepared by the
entity’s personnel and agreed by the auditor. Others with whom the auditor may
discuss significant matters may include other personnel within the entity, and
external parties, such as persons providing professional advice to the entity.
Documentation of How Inconsistencies Have Been Addressed (Ref: Para. 11)
A15. The requirement to document how the auditor addressed inconsistencies in
information does not imply that the auditor needs to retain documentation that
is incorrect or superseded.
Considerations Specific to Smaller Entities (Ref. Para. 8)
A16. The audit documentation for the audit of a smaller entity is generally less
extensive than that for the audit of a larger entity. Further, in the case of an
audit where the engagement partner performs all the audit work, the
documentation will not include matters that might have to be documented
solely to inform or instruct members of an engagement team, or to provide
evidence of review by other members of the team (for example, there will be
no matters to document relating to team discussions or supervision).
Nevertheless, the engagement partner complies with the overriding requirement
in paragraph 8 to prepare audit documentation that can be understood by an
experienced auditor, as the audit documentation may be subject to review by
external parties for regulatory or other purposes.
A17. When preparing audit documentation, the auditor of a smaller entity may also
find it helpful and efficient to record various aspects of the audit together in a
single document, with cross-references to supporting working papers as
appropriate. Examples of matters that may be documented together in the audit
of a smaller entity include the understanding of the entity and its internal
control, the overall audit strategy and audit plan, materiality determined in
accordance with ISA 320,8
assessed risks, significant matters noted during the
audit, and conclusions reached.
Departure from a Relevant Requirement (Ref: Para. 12)
A18. The requirements of the ISAs are designed to enable the auditor to achieve the
objectives specified in the ISAs, and thereby the overall objectives of the auditor.
Accordingly,otherthaninexceptionalcircumstances,theISAscallforcompliance
with each requirement that is relevant in the circumstances of the audit.
8
ISA 320, “Materiality in Planning and Performing an Audit.”
14. AUDIT DOCUMENTATION
ISA 230 152
A19. The documentation requirement applies only to requirements that are relevant
in the circumstances. A requirement is not relevant9
only in the cases where:
(a) The entire ISA is not relevant (for example, if an entity does not have
an internal audit function, nothing in ISA 61010
is relevant); or
(b) The requirement is conditional and the condition does not exist (for
example, therequirementto modify theauditor’sopinionwhere there isan
inabilitytoobtainsufficientappropriateauditevidence,andthereisnosuch
inability).
Matters Arising after the Date of the Auditor’s Report (Ref: Para. 13)
A20. Examples of exceptional circumstances include facts which become known to
the auditor after the date of the auditor’s report but which existed at that date
and which, if known at that date, might have caused the financial statements to
be amended or the auditor to modify the opinion in the auditor’s report.11
The
resulting changes to the audit documentation are reviewed in accordance with
the review responsibilities set out in ISA 220,12
with the engagement partner
taking final responsibility for the changes.
Assembly of the Final Audit File (Ref: Para. 14–16)
A21. ISQC 1 (or national requirements that are at least as demanding) requires firms
to establish policies and procedures for the timely completion of the assembly
of audit files.13
An appropriate time limit within which to complete the
assembly of the final audit file is ordinarily not more than 60 days after the date
of the auditor’s report.14
A22. The completion of the assembly of the final audit file after the date of the auditor’s
report is an administrative process that does not involve the performance of new
audit procedures or the drawing of new conclusions. Changes may, however, be
made to the audit documentation during the final assembly process if they are
administrative in nature. Examples of such changes include:
• Deleting or discarding superseded documentation.
• Sorting, collating and cross-referencing working papers.
• Signing off on completion checklists relating to the file assembly process.
9
ISA 200, paragraph 22.
10
ISA 610, “Using the Work of Internal Auditors.”
11
ISA 560, “Subsequent Events,” paragraph 14.
12
ISA 220, paragraph 16.
13
ISQC 1, paragraph 45.
14
ISQC 1, paragraph A54.
15. AUDIT DOCUMENTATION
ISA 230153
AUDITING
• Documenting audit evidence that the auditor has obtained, discussed
and agreed with the relevant members of the engagement team before
the date of the auditor’s report.
A23. ISQC 1 (or national requirements that are at least as demanding) requires firms
to establish policies and procedures for the retention of engagement
documentation.15
The retention period for audit engagements ordinarily is no
shorter than five years from the date of the auditor’s report, or, if later, the date
of the group auditor’s report.16
A24. An example of a circumstance in which the auditor may find it necessary to
modify existing audit documentation or add new audit documentation after file
assembly has been completed is the need to clarify existing audit
documentation arising from comments received during monitoring inspections
performed by internal or external parties.
15
ISQC 1, paragraph 47.
16
ISQC 1, paragraph A61.
16. AUDIT DOCUMENTATION
ISA 230 APPENDIX 154
Appendix
(Ref: Para. 1)
Specific Audit Documentation Requirements in Other ISAs
This appendix identifies paragraphs in other ISAs in effect for audits of financial
statements for periods beginning on or after December 15, 2009 that contain specific
documentation requirements. The list is not a substitute for considering the requirements
and related application and other explanatory material in ISAs.
• ISA 210, “Agreeing the Terms of Audit Engagements” – paragraphs 10–12
• ISA220, “Quality Controlfor anAuditof FinancialStatements”–paragraphs24–25
• ISA240, “TheAuditor’s Responsibilities Relating to Fraud in anAudit of Financial
Statements” – paragraphs 44–47
• ISA 250, “Consideration of Laws and Regulations in an Audit of Financial
Statements” – paragraph 29
• ISA 260, “Communication with Those Charged with Governance” – paragraph 23
• ISA 300, “Planning an Audit of Financial Statements” – paragraph 12
• ISA 315, “Identifying and Assessing the Risks of Material Misstatement through
Understanding the Entity and Its Environment” – paragraph 32
• ISA 320, “Materiality in Planning and Performing an Audit” – paragraph 14
• ISA 330, “TheAuditor’s Responses to Assessed Risks” – paragraphs 28–30
• ISA450, “Evaluation of Misstatements Identified during theAudit” – paragraph 15
• ISA 540, “Auditing Accounting Estimates, Including Fair Value Accounting
Estimates, and Related Disclosures” – paragraph 23
• ISA 550, “Related Parties” – paragraph 28
• ISA600,“SpecialConsiderations—AuditsofGroupFinancialStatements(Including
the Work of ComponentAuditors)” – paragraph 50
• ISA 610, “Using the Work of Internal Auditors” – paragraph 13