ASA 240 - The Auditor’s Responsibilities Relating to Fraud in an Audit of a Financial Report - October 2009
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CONTENTS
COMPILATION DETAILS
AUTHORITY STATEMENT
CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING
Paragraphs
Application......................................................Aus 0.1-Aus 0.2
Operative Date.........................................................Aus 0.3
Introduction
Scope of this Auditing Standard..................................................1
Characteristics of Fraud.......................................................2-3
Responsibility for the Prevention and Detection of Fraud...............................4-9
Effective Date..............................................................10
Objectives.................................................................11
Definitions................................................................12
Requirements
Professional Scepticism.....................................................13-15
Discussion among the Engagement Team...........................................16
Risk Assessment Procedures and Related Activities.................................17-25
Identification and Assessment of the Risks of Material Misstatement Due to Fraud..........26-28
Responses to the Assessed Risks of Material Misstatement Due to Fraud..................29-34
Evaluation of Audit Evidence.................................................35-38
Auditor Unable to Continue the Engagement........................................39
Written Representations.......................................................40
Communications to Management and with Those Charged With Governance..............41-43
Reporting Fraud to an Appropriate Authority Outside the Entity..........................44
Documentation...........................................................45-48
Application and Other Explanatory Material
Characteristics of Fraud....................................................A1-A5
Responsibility for the Prevention and Detection of Fraud............................A6-A7
Professional Scepticism...................................................A8-A10
Discussion among the Engagement Team......................................A11-A12
Risk Assessment Procedures and Related Activities..............................A13-A28
Identification and Assessment of the Risks of Material Misstatement Due to Fraud........A29-A33