DocumentationDocumentation

Documentation

1. In applying ASA 230,[35] the auditor shall include the following in the audit documentation: (Ref: Para. A206)
   1. The matters discussed among the engagement team regarding the susceptibility of the entity’s financial report to material misstatement due to fraud in accordance with paragraph 29.
   2. Key elements of the auditor’s understanding in accordance with paragraphs 31–36, the sources of information from which the auditor’s understanding was obtained and the risk assessment procedures performed.
   3. The identified and assessed risks of material misstatement due to fraud at the financial report level and at the assertion level, and the rationale for the significant judgements made.
   4. If the auditor has concluded that the presumption that a risk of material misstatement due to fraud related to revenue recognition is not applicable in the circumstances of the engagement, the reasons for that conclusion.
   5. The results of audit procedures performed to address the risks of management override of controls, the significant professional judgements made, and the conclusions reached.
   6. Fraud or suspected fraud identified, the results of audit procedures performed, the significant professional judgements made, and the conclusions reached.
   7. The matters related to fraud or suspected fraud communicated with management, those charged with governance, regulatory and enforcement authorities, and others, including how management, and where applicable, those charged with governance have responded to the matters.

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