Читать книгу Wiley Practitioner's Guide to GAAS 2020 - Joanne M. Flood - Страница 106

The auditor responds to assessment of risk of material misstatement due to fraud by:

 Exercising professional skepticism

 Evaluating audit evidence

 Considering programs and controls to address those risks

Examples of the use of professional skepticism include:

 Designing additional or different audit procedures to obtain more reliable evidence

 Obtaining additional corroboration of management’s responses or representations

The auditor should respond to the risk of material misstatement in the following ways:

1 Evaluate the overall conduct of the audit.

2 Adjust the nature, timing, and extent of audit procedures performed in response to identified risks.

3 Perform certain procedures to address the risk that management will override controls.

NOTE: The auditor should document a description of the auditor’s response to identified fraud risks.

If the auditor concludes that it is not practical to design audit procedures to sufficiently address the risks of material misstatement due to fraud, the auditor should consider withdrawing from the engagement and communicating the reason to the audit committee.