Section Performing a Review (Ref: Para 6) - Auditing Standard on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity (July 2020) - Performing a Review (Ref: Para 6)

Performing a Review (Ref: Para 6)Performing a Review (Ref: Para 6)

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###### Performing a Review (Ref: Para 6) 1. Through performing the audit of the annual financial report, the auditor obtains an understanding of the entity and its environment, the applicable financial reporting framework, and the entity’s system of internal control. When the auditor is engaged to review the financial report, under paragraph 13, the auditor needs to update this understanding through enquiries made in the course of the review, to assist the auditor in focusing the enquiries to be made and the analytical and other review procedures to be applied. A practitioner who is engaged to perform a review of a financial report, and who is not the auditor of the entity, does not perform the review in accordance with ASRE 2410[](#_ftn5), as the practitioner ordinarily does not have the same understanding of the entity and its environment, the applicable financial reporting framework, and the entity’s system of internal control, as the auditor of the entity. Although other Auditing Standards do not apply to review engagements, they include guidance which may be helpful to auditors performing reviews covered by this Auditing Standard.