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Question

Areas / matters where Professional Judgement is used by the External Auditor are :

1. When calculating materiality at the start of the audit

2. When audit risk is assessed

3. Nature, timing & extent of audit procedures to be performed to obtain audit evidence.

4. When evaluating whether S.A.A.E has been obtained & what further procedures are needed to achieve the overall objectives of the external audit.

5. When drawing conclusions based on the evidence obtained e.g. [...] made by management in preparing the accounts.

Answer
assessment of reasonableness of estimates

Question

Areas / matters where Professional Judgement is used by the External Auditor are :

1. When calculating materiality at the start of the audit

2. When audit risk is assessed

3. Nature, timing & extent of audit procedures to be performed to obtain audit evidence.

4. When evaluating whether S.A.A.E has been obtained & what further procedures are needed to achieve the overall objectives of the external audit.

5. When drawing conclusions based on the evidence obtained e.g. [...] made by management in preparing the accounts.

Answer
?

Question

Areas / matters where Professional Judgement is used by the External Auditor are :

1. When calculating materiality at the start of the audit

2. When audit risk is assessed

3. Nature, timing & extent of audit procedures to be performed to obtain audit evidence.

4. When evaluating whether S.A.A.E has been obtained & what further procedures are needed to achieve the overall objectives of the external audit.

5. When drawing conclusions based on the evidence obtained e.g. [...] made by management in preparing the accounts.

Answer
assessment of reasonableness of estimates
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ether S.A.A.E has been obtained & what further procedures are needed to achieve the overall objectives of the external audit. 5. When drawing conclusions based on the evidence obtained e.g. <span>assessment of reasonableness of estimates made by management in preparing the accounts. <span>

Original toplevel document (pdf)

owner: Shaun2099 - (no access) - H1 BasicConcepts.pdf, p9

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