Page 144 - Microsoft Word - 00 P1 IW Prelims.docx
P. 144
Chapter 113 4
5.3 Audit procedures
Inspecting prior year working papers.
Assessing the entity’s procedures for identifying, authorising and recording
related party transactions.
Enquiring about relationships between those charged with governance and
management and other entities.
Inspecting shareholder records for details of principal shareholders.
Inspecting minutes of shareholders’ meetings and other relevant minutes and
records.
Enquiring of other auditors involved with the audit.
Inspecting the entity’s income tax returns and other information supplied to the
regulatory authorities.
Reviewing transactions with abnormal terms of trade or appear not to have a
logical business reason.
140