Page 6 - Internal Auditing Standards
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Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities Volume 1—Core Concepts
Contents
Page
Volume 2 Primary ISA Reference Number
Preface 5
Request for Comments 6
1. How to Use the Guide 8
2. Introduction to the Case Studies 13
PHASE 1: Risk Assessment 24
3. Risk Assessment—Overview 24
Preliminary Activities 27
4. Engagement Acceptance and Continuance ISQC 1, 210, 220, 300 27
Planning the Audit 43
5. Overall Audit Strategy 300 43
6. Determining and Using Materiality 320, 450 54
7. Audit-Team Discussions 240, 300, 315 70
Performing Risk Assessment Procedures 79
8. Inherent Risks—Identifi cation 240, 315 79
9. Inherent Risks—Assessment 240, 315 107
10. Signifi cant Risks 240, 315, 300 117
11. Understanding Internal Control 240, 315 127
12. Evaluating Internal Control 315 141
13. Communicating Deficiencies in Internal Control 265 170
14. Concluding the Risk Assessment Phase 315 183
PHASE II: Risk Response 193
15. Risk Response—An Overview – 193
16. The Responsive Audit Plan 260, 300, 330, 500 196
17. Determining the Extent of Testing 330, 500, 530 219
18. Documenting Work Performed 230, 500 248
19. Written Representations 580 252
PHASE III: Reporting 264
20. Reporting—Overview – 264
21. Evaluating Audit Evidence 220, 330, 450, 520, 540 267
22. Communicating with Those Charged with Governance 260, 450 284
23. Modifications to the Auditor’s Report 705 295
24. Emphasis of Matter and Other Matter Paragraphs 706 308
25. Comparative Information 710 314
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