Section Enquiries, Analytical and Other Review P - ASRE 2410 - Review of a Financial Report Performed by the Independent Auditor of the Entity - October 2009 - Enquiries, Analytical and Other Review Procedures

Enquiries, Analytical and Other Review PEnquiries, Analytical and Other Review Procedures

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Enquiries, Analytical and Other Review Procedures

The auditor shall make enquiries, primarily of persons responsible for financial and accounting matters, and perform analytical and other review procedures to enable the auditor to conclude whether, on the basis of the procedures performed, anything has come to the auditor’s attention that causes the auditor to believe that the financial report is not prepared, in all material respects, in accordance with the applicable financial reporting framework. (Ref: Para. A19‑A23)
The auditor shall obtain evidence that the financial report agrees or reconciles with the underlying accounting records. (Ref: Para. A24)
The auditor shall enquire whether management has identified all events up to the date of the review report that may require adjustment to or disclosure in the financial report. (Ref: Para. A25)
The auditor shall enquire whether those charged with governance have changed their assessment of the entity’s ability to continue as a going concern. When, as the result of this enquiry or other review procedures, the auditor becomes aware of events or conditions that may cast significant doubt on the entity’s ability to continue as a going concern, the auditor shall:
1. enquire of those charged with governance as to their plans for future actions based on their going concern assessment, the feasibility of these plans, and whether they believe that the outcome of these plans will improve the situation; and
2. consider the adequacy of the disclosure about such matters in the financial report. (Ref: Para. A26)
When a matter comes to the auditor’s attention that leads the auditor to question whether a material adjustment should be made for the financial report to be prepared, in all material respects, in accordance with the applicable financial reporting framework, the auditor shall make additional enquiries or perform other procedures to enable the auditor to express a conclusion in the review report. (Ref: Para. A27)