Document ID: chunk:federal_register_of_legislation:F2025L00107:front:0:p19
Version: federal_register_of_legislation:F2025L00107
Segment Type: other
Provision Reference: 
Character Range: 59423–62955

Review

 1.                The engagement leader shall take responsibility for the direction and supervision of the members of the engagement team and the review of their work. (Ref: Para. A111–A116)

 2.                The engagement leader shall determine that the nature, timing and extent of direction, supervision and review is: (Ref: Para. A117–A118)

         1.                 Planned and performed in accordance with the firm's policies or procedures, professional standards and applicable legal and regulatory requirements; and

         2.                 Responsive to the nature and circumstances of the engagement and the resources assigned or made available to the engagement team by the firm.

 3.                The engagement leader shall review engagement documentation at appropriate points in time during the engagement, including documentation relating to: (Ref: Para. A119–A121, A173)

         1.                 Significant matters;

         2.                 Significant judgements, including those relating to difficult or contentious matters identified during the engagement, and the conclusions reached; and

         3.                 Other matters that, in the engagement leader's professional judgement, are relevant to the engagement leader's responsibilities.

 4.                The engagement leader shall review, prior to their issuance, formal written communications to management, those charged with governance or regulatory authorities. (Ref: Para. A122)

Using the Work of Others

Using the Work of Another Practitioner

 1.                If the practitioner intends to obtain evidence from using the work of another practitioner, the practitioner shall: (Ref: Para. A123–A124)

         1.                 Comply with relevant ethical requirements that apply to using the work of another practitioner; (Ref: Para. A125–A126)

         2.                 Evaluate whether that practitioner has the necessary competence and capabilities for the practitioner's purposes; (Ref: Para. A127)

         3.                 Evaluate whether the nature, scope and objectives of that practitioner's work are appropriate for the practitioner's purposes; and (Ref: Para. A128)

         4.                 Determine whether the evidence obtained from that practitioner's work is adequate for the practitioner's purposes. (Ref: Para. A124)

 2.                In making the evaluation in accordance with paragraph 50(c) and determination in accordance with paragraph 50(d), if the practitioner plans to use an assurance report of another practitioner that has been designed for use by user entities and their assurance practitioners across a value chain (referred to in this ASSA as a one-to-many report), the practitioner shall determine whether that assurance report provides sufficient appropriate evidence for the practitioner's purposes by evaluating: (Ref: Para. A129–A131, A291)

         1.                 Whether the description of the procedures performed and the results thereof are appropriate for the practitioner's purposes; and

         2.                 The adequacy of the standard(s) under which the assurance report was issued.

 3.                If the practitioner intends to obtain evidence about the operating effectiveness of controls in accordance with paragraphs 119R or 120L, as applicable, the practitioner shall determine whether any complementary user entity controls identified in a one-to-many or other assurance report of another practitioner are relevant to the