![]() ![]() ![]() Information is data collected from documents, databases or other sources and analysed by the auditors. Definitions Audit evidence is all of the information used by the auditor to support the audit findings and conclusions and, where required, arrive at an audit opinion. When providing an audit opinion as in Statement of Assurance, the evidence should allow reaching a conclusion with reasonable assurance. The auditor describes these matters in the auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, the auditor determines that a matter should not be communicated in the auditor’s report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.Principle The audit team aims to obtain sufficient, relevant and reliable audit evidence to ensure that the contents of the audit report stand up to critical review. The auditor also provides those charged with governance with a statement that the auditor has complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on the auditor’s independence, and where applicable, actions taken to eliminate threats or safeguards applied.įrom the matters communicated with those charged with governance, the auditor determines those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. The auditor communicates with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that the auditor identifies during the audit. Evaluates the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. ![]() However, future events or conditions may cause the entity to cease to continue as a going concern. The auditor’s conclusions are based on the audit evidence obtained up to the date of the auditor’s report. If the auditor concludes that a material uncertainty exists, the auditor is required to draw attention in the auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Concludes on the appropriateness of the use of the going concern basis of accounting by those charged with governance and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern.Evaluates the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. ![]()
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