ISA 320 Materiality in planning and performing an audit MCQs
ISA 320 states that, assessing what is or is not material is a matter of professional judgement, in this context auditors are entitled to assume that users
ISA 320 states that, assessing what is or is not material is a matter of professional judgement, in this context auditors are entitled to assume that users
ISA 315 states that the objective of the auditor is to identify and assess the risk of material misstatement, whether due to fraud or error
The objective of the auditor, per ISA 300 Planning an audit of financial statements is to plan the audit work so that the audit will be performed
ISA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management requires the auditor to Communicate any deficiencies
Matters that should be reported to those charged with governance include, The auditor’s responsibilities in relation to the financial statements audit
Non-compliance means acts of omission or commission intentional or unintentional, committed by the entity, which are contrary to the prevailing laws
It is particularly important in relation to fraud that the auditor maintains an attitude of professional scepticism as required by ISA 200
ISA 230 Audit Documentation, requires auditors to prepare and retain written documentation that provides a sufficient appropriate record of the auditor’s