Nature and extent of exceptions the auditor identifies.Significance, to the assertion being tested, of the evidence the auditor obtains.Extent of judgment the auditor exercises in performing the work and evaluating the results.Risk of material misstatement associated with the assertion or with the account or class of transactions.96 also introduced six new factors the auditor must consider in determining the nature and extent of documentation for a particular audit area or procedure. Indicate the engagement team members who performed and reviewed the work.Enable engagement team members with supervision and review responsibilities to understand the evidence obtained and the nature, timing, extent and results of auditing procedures performed.96, the documentation should be sufficient to: 41 footnote that stated there is no intention to imply the auditor would be precluded from supporting his or her report by other means “in addition to" audit documentation. Therefore, the board carried forward a SAS no. It’s not feasible for auditors to document all the evidence they obtain and conclusions they reach on an engagement. 96, stated that audit documentation serves mainly to provide the “principal support for the auditor’s report” and to help the auditor conduct and supervise the audit.
41, "Working Papers," which was superseded by SAS No. The new statement is effective for audits of financial statements for periods beginning on or after May 15, 2002, although earlier application is permitted. 96 "Audit Documentation" was issued by the Auditing Standards Board (ASB) of the American Institute of CPAs in January 2002. Statement on Auditing Standards (SAS) No.
96 RAISES THE BAR FOR AUDIT DOCUMENTATION –ĪDDING SPECIFIC REQUIREMENTS IN SEVERAL AREAS By: Gary A.
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