Web6. The auditor shall design and perform further audit procedures whose nature, timing, and extent are based on and responsive to the assessed risks of material misstatement at the assertion level. The purpose is to provide a clear linkage between the nature, timing and extent of the auditor's further audit procedures and the risk assessment. 7. WebIn designing further audit procedures, the auditor should consider such matters as: •The significance of the risk •The likelihood that a material misstatement will occur …

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WebPerforming audit procedures on an unannounced basis; and. In multi-location audits, varying the location or the nature, timing, and extent of audit procedures at related … Web• Assess the risk of material misstatement and design further audit procedures. • Perform test of controls and substantive procedures. • … psa rating cards

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Web8 Types of Audit Procedures 1. Analytical procedures 3. Inquiry 4. Inspecting records or documents 5. Inspecting assets 6. Observation 7. Recalculation 8. Reperformance Conclusion What is Audit Procedures? WebApr 13, 2024 · Those further audit procedures can either be tests of controls or substantive audit procedures. I’ll come back to tests of controls later, but it’s important in this environment for auditors to be creative and innovative in their audit approaches. WebJun 4, 2024 · Hi, I understand that in the exam, the principal audit procedures are those procedures to be performed for audit purposes, but how about additional/further … psa reading of 1.2