Document ID: chunk:federal_register_of_legislation:F2023C01128:reg:17:p11
Version: federal_register_of_legislation:F2023C01128
Segment Type: reg
Provision Reference: reg 17 (pt 11/25)
Character Range: 36467–39796

perform the planned audit procedures or evaluate the audit results, including the use of an auditor's expert.[10]

           * When ASA 701 applies, the auditor's preliminary views about matters that may be areas of significant auditor attention in the audit and therefore may be key audit matters.

           * The auditor's planned approach to addressing the implications on the individual statements and the disclosures of any significant changes within the applicable financial reporting framework or in the entity's environment, financial condition or activities.

A14.         Other planning matters that it may be appropriate to discuss with those charged with governance include:

           * [Deleted by the AUASB.  Refer Aus A14.1]

Aus A14.1 Where the entity has an internal audit function, how the external auditor and internal auditors can work together in a constructive and complementary manner, including any planned use of the work of the internal audit function.[11]

               * The views of those charged with governance about:

                       + The appropriate person(s) in the entity's governance structure with whom to communicate.

                       + The allocation of responsibilities between those charged with governance and management.

                       + The entity's objectives and strategies, and the related business risks that may result in material misstatements.

                       + Matters those charged with governance consider warrant particular attention during the audit, and any areas where they request additional procedures to be undertaken.

                       + Significant communications between the entity and regulators.

                       + Other matters those charged with governance consider may influence the audit of the financial report.

               * The attitudes, awareness, and actions of those charged with governance concerning (a) the entity's internal control and its importance in the entity, including how those charged with governance oversee the effectiveness of internal control, and (b) the detection or possibility of fraud.

               * The actions of those charged with governance in response to developments in accounting standards, corporate governance practices, exchange listing rules, and related matters, and the effect of such developments on, for example, the overall presentation, structure and content of the financial report, including:

                       + The relevance, reliability, comparability and understandability of the information presented in the financial report; and

                       + Considering whether the financial report is undermined by the inclusion of information that is not relevant or that obscures a proper understanding of the matters disclosed.

               * The responses of those charged with governance to previous communications with the auditor.

               * The documents comprising the other information (as defined in ASA 720) and the planned manner and timing of the issuance of such documents.  When the auditor expects to obtain other information after the date of the auditor's report, the discussions with those charged with governance may also include the actions that may be appropriate or necessary if the auditor concludes that a