Page 12 - Use Of Confirmations And Related Parties

USE OF CONFIRMATIONS & RELATED PARTIES

Related Parties (ISA 550 & IAS 24)

(Continued…)

Risk Assessment Procedures and Related Activities:

• Understand the entity’s related party relationships and

transactions

• Maintain alertness for related party information when

reviewing records or documents

• Share related party information with the engagement team

• Refer to ISA 550.22, ISA 550.25 and ISA 550.26.

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