Document ID: chunk:federal_register_of_legislation:F2025L00107:front:0:p119
Version: federal_register_of_legislation:F2025L00107
Segment Type: other
Provision Reference: 
Character Range: 377497–380598

result in a higher rate of deviation than expected.

           * When information intended to be used as evidence is inconsistent with other information or evidence.

 1.       The relevance of information intended to be used as evidence may be affected by the period of time to which the information relates. For example, the relevance of such information may change based on the passage of time or due to events or conditions, such as the identification of new information. Such circumstances may occur when the practitioner identifies information from an alternative or more credible source which negates, or causes doubt about, the relevance of the initial information intended to be used as evidence.

 2.       In cases of doubt about the reliability of information or indications of possible fraud, this ASSA requires the practitioner to investigate further and determine what modifications or additions to procedures are necessary to resolve the matter. Doubts about the reliability of information from management may indicate a risk of fraud.

Planning

Overall Strategy and Engagement Plan (Ref: Para. 95)

Planning Activities

 1.       Adequate planning helps to:

           * Devote appropriate attention to important areas of the engagement;

           * Identify potential problems on a timely basis and properly organise and manage the engagement in order for it to be performed in an effective and efficient manner;

           * Properly assign work to engagement team members, and facilitate the direction and supervision of engagement team members and the review of their work; and

           * When applicable, co-ordinate work done by other practitioners and experts.

 1.       Planning involves the engagement leader, other key members of the engagement team, and any key practitioner's external experts developing:

         1.                 An overall strategy for the scope, timing and direction of the assurance engagement; and

         2.                 An engagement plan, consisting of a detailed approach for the nature, timing and extent of procedures to be performed, and the reasons for selecting them.

 2.       The nature and extent of planning activities will vary with the engagement circumstances. Examples of matters that may be considered include:

           * The characteristics of the entity and its activities.

           * Whether the engagement is a limited assurance engagement, reasonable assurance engagement or a combined limited and reasonable assurance engagement.

           * The nature of the sustainability matters.

           * Whether there are sustainability matters that may also relate to matters disclosed in the entity's financial report and, if so, whether communication with the auditor of the financial report, if not prohibited by law or regulation, may be useful for planning the assurance engagement (e.g., to inform each other about common sustainability matters that may be susceptible to risks of misstatement, or to discuss other matters that may be identified during the course of the respective engagements). If