TECHNIQUES FOR AUDIT PROCEDURES

TECHNIQUES TECHNIQUES
SUFFICIENT APPROPIATE INTERNATIONAL
AUDIT EVIDENCE FINANCIAL REPORTING
STANDARDS

PROCEDURES PROCEDURES

Select sample from Consider the

and Inspect requirement of IFRS
 TECHNIQUES FOR AUDIT PROCEDURES

PROCEDURES
Obtain an understanding of management process
to record estimates and ensure that it is consistent
with the requirement estimates of IFRS

TECHNIQUES
Perform Test of Controls on the amount of
estimates

ISA 540
ACCOUNTING Ensure that assumptions used by the
management are reasonable
ESTIMATES

Perform subsequent event procedures such as:

Evaluate the adequacy of disclosure

 TECHNIQUES FOR AUDIT PROCEDURES

PROCEDURES
Evaluate the competence, capabilities and
TECHNIQUES objectivity of management expert

ISA 500
MANAGEMENT Obtain an understanding of the work of that
EXPERT expert
Finding and conclusion
are relevant and
reasonable

Assumptions are
Evaluate the adequacy of the expert work by
reasonable
ensuring that:

Source of data is
complete and accurate
 TECHNIQUES FOR AUDIT PROCEDURES

PROCEDURES
Evaluate the competence, capabilities and
TECHNIQUES objectivity of management expert

ISA 620
AUDITOR Obtain an understanding of the work of that
EXPERT expert
Finding and conclusion
are relevant and
reasonable

Assumptions are
Evaluate the adequacy of the expert work by
reasonable
ensuring that:

Source of data is
complete and accurate
 TECHNIQUES FOR AUDIT PROCEDURES

PROCEDURES
Inquiry of management including in house
legal counsel

TECHNIQUES
Reviewing minutes of the meeting of TCWG

Correspondence between entity and its

ISA 501 external legal counsel
LITIGATIONS
AND CLAIMS
Reviewing legal expense account

Send confirmation to external lawyer

Obtain written representation from

management that they had disclosed to the
auditor and accounted for and disclosed in
accordance with IFtRS
 TECHNIQUES FOR AUDIT PROCEDURES

PROCEDURES
Select sample and send confirmation

If confirmation received, assess the

TECHNIQUES reliability

ISA 505 If reliable, match the balance with the GL

EXTERNAL
CONFIRMATION
If not matched, obtain reconciliation from
the management Performed

Procedures on reconciling items

If confirmation not received - perform

alternative audit procedures
TECHNIQUES FOR AUDIT PROCEDURES

SUFFICIENT
APPROPIATE
AUDIT
EVIDENCE
INTERNATIONAL
FINANCIAL
ISA 505 REPORTING
EXTERNAL STANDARDS
CONFIRMATION

ISA 540
TECHNIQUES ACCOUNTING
ESTIMATES
ISA 501
LITIGATIONS
AND CLAIMS

ISA 500
MANAGEMENT
ISA 620 EXPERT
AUDITOR
EXPERT