The user auditor shall obtain an understanding of how user entity uses the services of a service organization in the user entity operation, including:
(a) Nature of services provided by the service
organization and the significance of those
services to the user entity.
(b) The nature and Materiality of the
transactions processed or financial reporting
processes affected by service organizat
Best Study Notes » Auditing and Assurance CA IPCC
SA 402 (R) - Audit Considerations relating to an Entity Using a Service Organisation
Best Coaching Class Notes by shruti (#2) 222 days ago (Article)
SA 320 (R) - Materiality in Planning and Performing an Audit
Best Coaching Class Notes by shruti (#2) 222 days ago (Article)
Concept of Materiality is a subject of auditor's judgement and subject to the discussion present in the financial reporting framework of the organization.
SA 265 - Communicating Deficiencies in Internal Control to TCWG & Management
Best Coaching Class Notes by shruti (#2) 222 days ago (Article)
Deficiency refers to the following:
1. Inability of Internal controls prevent, detect & correct misstatement ;
or (b) Absence of control which is necessary to Prevent, detect & correct misstatements
Auditor needs to identify and communicate the deficiencies to the mgmnt. H also should determine whether individually or in combination they constitute significant deficiencies. Auditor needs to
1. Inability of Internal controls prevent, detect & correct misstatement ;
or (b) Absence of control which is necessary to Prevent, detect & correct misstatements
Auditor needs to identify and communicate the deficiencies to the mgmnt. H also should determine whether individually or in combination they constitute significant deficiencies. Auditor needs to
SA 210 - Agreeing the Terms of Engagement
Best Coaching Class Notes by shruti (#2) 222 days ago (Article)
For any limitations imposed by mgmt, do not accept unless it is required by law. Auditor should not accept audit in case of:
(a) Unacceptable Financial Rporting framework; or in case if
(b) Mgmt. does not agree with responsibilities
For Recurring Audit - Determine requirements w.r.t.:
(a) Revision of terms of Engagement; &
(b) Remind the entity of the existing terms
In case Mgmt requests f
(a) Unacceptable Financial Rporting framework; or in case if
(b) Mgmt. does not agree with responsibilities
For Recurring Audit - Determine requirements w.r.t.:
(a) Revision of terms of Engagement; &
(b) Remind the entity of the existing terms
In case Mgmt requests f
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