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  2. Audit substantive test - Wikipedia

    en.wikipedia.org/wiki/Audit_substantive_test

    Substantive procedures (or substantive tests) are those activities performed by the auditor to detect material misstatement at the assertion level. [1]Management implicitly assert that account balances and disclosures and underlying classes of transactions do not contain any material misstatements: in other words, that they are materially complete, valid and accurate.

  3. ISA 500 Audit Evidence - Wikipedia

    en.wikipedia.org/wiki/ISA_500_Audit_Evidence

    The auditor uses assertions in assessing risks by considering potential misstatements that may occur, and thereby designing audit procedures that are responsive to the particular risks. Assertions used by the auditor fall into the following categories: (a) Assertions about classes of transactions and events for the period ended: Occurrence

  4. SOX 404 top–down risk assessment - Wikipedia

    en.wikipedia.org/wiki/SOX_404_top–down_risk...

    There are two primary levels at which objectives (and also controls) are defined: entity-level and assertion level. An example of an entity-level control objective is: "Employees are aware of the Company's Code of Conduct." The COSO 1992–1994 Framework defines each of the five components of internal control (i.e., Control Environment, Risk ...

  5. Management assertions - Wikipedia

    en.wikipedia.org/wiki/Management_assertions

    These assertions are relevant to auditors performing a financial statement audit in two ways. First, the objective of a financial statement audit is to obtain sufficient appropriate audit evidence to conclude on whether the financial statements present fairly, in all material respects, the financial position of a company and the results of its ...

  6. SSAE No. 18 - Wikipedia

    en.wikipedia.org/wiki/SSAE_No._18

    Statement on Standards for Attestation Engagements no. 18 (SSAE No. 18 or SSAE 18) is a Generally Accepted Auditing Standard produced and published by the American Institute of Certified Public Accountants (AICPA) Auditing Standards Board. Though it states that it could be applied to almost any subject matter, its focus is reporting on the ...

  7. Audit working papers - Wikipedia

    en.wikipedia.org/wiki/Audit_working_papers

    Audit working papers are the documents which record during the course of audit evidence obtained during financial statements auditing, internal management auditing, information systems auditing, and investigations. Audit working papers are used to support the audit work done in order to provide the assurance that the audit was performed in ...

  8. International Standards on Auditing - Wikipedia

    en.wikipedia.org/wiki/International_Standards_on...

    European Union: The Audit Directive of 17 May 2006 enforces the use of the International Standards on Auditing for all Statutory audits to be performed in the European Union. The Audit Directive of 17 May 2006 is important in order to ensure a high quality for all statutory audits required by Community law requiring all statutory audits be ...

  9. Materiality (auditing) - Wikipedia

    en.wikipedia.org/wiki/Materiality_(auditing)

    The concave nature of the function leads to a lower materiality threshold (which implies less tolerance for misstatement) as the company becomes larger because more users are relying on the financial statements. Although the formula varies, a typical structure is as follows: