Section Considerations When Planning and Perform - ASA 800 - Special Considerations—Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks - July 2016 - Considerations When Planning and Performing the Audit | Zoe

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ASA 800 - Special Considerations—Audits of Financial Reports Prepared in Accordance with Special Purpose Frameworks - July 2016

Considerations When Planning and PerformConsiderations When Planning and Performing the Audit

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Considerations When Planning and Performing the Audit

ASA 200 requires the auditor to comply with all Australian Auditing Standards relevant to the audit.[4] In planning and performing an audit of a special purpose financial report, the auditor shall determine whether application of the Australian Auditing Standards requires special consideration in the circumstances of the engagement. (Ref: Para. A9–A12)
ASA 315 requires the auditor to obtain an understanding of the entity’s selection and application of accounting policies.[5] In the case of a financial report prepared in accordance with the provisions of a contract, the auditor shall obtain an understanding of any significant interpretations of the contract that management made in the preparation of that financial report. An interpretation is significant when adoption of another reasonable interpretation would have produced a material difference in the information presented in the financial report.