PhYesm vi applies
- This Auditing Standard specifies and guides the auditor's responsibility and corporate auditing (hereinafter referred to as an "auditor") in communicating issues related to the audit of financial statements with those charged with governance. This Standard applies to all audits of financial statements, regardless of the size or structure of the management apparatus of the entity. This Standard does not prescribe and guide auditors and corporate auditing communicating with management or owners of the entity, unless those individuals are on those of those charged with governance.
- This International Standard applies to the auditing of financial statements and may be applied to the audit of historical financial information with changes to the circumstances of which management is involved. responsibility for supervising the preparation and presentation of such information.
- Due to the importance and efficiency of two-way communication during the audit process, this Auditing Standard defines the content to be communicated between the auditor and those of those charged with governance. They also provide guidance on specific issues that need to be addressed In addition to the requirements of this Standard, other auditing standards also provide and provide guidance on other matters the auditor should discuss with management. unit value audited (see Appendix 2). VAS 01 also specifies and guides the communication with those charged with governance about significant deficiencies in internal control that the auditor discovers during the audit. Additional matters may also be communicated with those charged with governance in accordance with relevant laws and regulations, as required by agreement with the entity or by certain requirements. Other requirements are posed for the audit, as guided by professional organizations. This International Standard does not restrict the auditor from discussing any other matter with those of those charged with governance (Ref: Para A265 - A24).
The role of the exchange process
- This Auditing Standard mainly deals with the communication between auditors and corporate auditing with the management of the audited unit. Effective two-way communication is important in supporting:
(a) Auditors, auditing firms and management of the audited unit understands the issues related to the audit process and strengthens the mutual support relationship in work. This relationship is developed while the auditor and corporate auditing still ensuring independence and objectivity;
(b) The auditor's collection of information related to the audit from governance. For example, governance may help the auditor understand the entity and its business environment, identify sources of appropriate audit evidence, and provide information on transactions. translation and event specific;
(c) Those charged with governance fulfill the responsibility of overseeing the financial reporting process, thereby minimizing the risk of material misstatement of the financial statements.
- It is the responsibility of the auditor to communicate with those charged with governance regarding the material matters covered by this Standard. Management is also responsible for communicating with those charged with governance regarding governance matters of concern. The communication of the auditor does not relieve the responsibility of the Board of Directors. Management communicating with governance about matters that must be discussed by the auditor does not relieve the auditor's responsibility for communication. However, management's communication may affect the form and timing of the communication between the auditor and those charged with governance.
- As required by the Vietnamese Standards on Auditing, certain matters are required to be communicated specifically with those charged with governance. However, auditing standards do not require the auditor to perform specific procedures in order to detect other problems in communication with those of governance.
- Relevant law or regulation may restrict the auditor's communication of certain matters with those of governance. For example, laws and regulations may prohibit exchange or any other action that would prejudice the authorities' investigation of a violation or suspicion of a violation. the law. In some cases, if there is a complicated conflict between the auditor's confidentiality obligations and the auditor's responsibility to exchange information, the auditor should consult experts of legal advice.
- The practitioner and the firm shall comply with the requirements of this Standard in communicating matters with those of governance.
The entity (customer) shall have the necessary knowledge of this International Standard in order to coordinate the work and deal with relationships related to the auditor's communication of matters with those charged with governance. is being audited.
Full text view Auditing Standard No. 260