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ASA 330 - The Auditor’s Responses to Assessed Risks - October 2009
Evaluating the Sufficiency and AppropriaEvaluating the Sufficiency and Appropriateness of Audit Evidence
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Evaluating the Sufficiency and Appropriateness of Audit Evidence
- Based on the audit procedures performed and the audit evidence obtained, the auditor shall evaluate before the conclusion of the audit whether the assessments of the risks of material misstatement at the assertion level remain appropriate. (Ref: Para. A62-A63)
- The auditor shall conclude whether sufficient appropriate audit evidence has been obtained. In forming an opinion, the auditor shall consider all relevant audit evidence, regardless of whether it appears to corroborate or to contradict the assertions in the financial report.
(Ref: Para. A64) - If the auditor has not obtained sufficient appropriate audit evidence related to a relevant assertion about a class of transactions, account balance or disclosure, the auditor shall attempt to obtain further audit evidence. If the auditor is unable to obtain sufficient appropriate audit evidence, the auditor shall express a qualified opinion or disclaim an opinion on the financial report.