In: Accounting
The evaluating and concluding stage of the audit process is very
important. At this stage all the evidence that has been gathered on
the audit must be brought together so that decisions can be taken
as to whether anything further needs to be done and ultimately what
the appropriate audit opinion will be.
YOU ARE REQUIRED TO:
a. State, giving reasons which member of the audit team should
conduct the evaluation of audit evidence and conclude on fair
presentation. (3)
b. Briefly discuss the factors which the auditor should consider
when evaluating and concluding. (12)
a. As per ISA 315, engegement partner or the head of the audit team shall conduct the evaluation of audit evidence along with the team members. Serious issues shall be discussed with senior partners of the audit firm
b. factors which the auditor should consider when evaluating and concluding are: