PCAOB 14: Evaluating Audit Results1
EFFECTIVE DATE AND APPLICABILITY
|Effective Date||This standard currently is effective.|
|Applicability||All audit planning.|
OBJECTIVES OF PCAOB STANDARD 14
Public Company Accounting Oversight Board (PCAOB) Auditing Standard 14 sets the objective of evaluating the results of the audit to determine whether the evidence obtained is sufficient and appropriate to support the opinion to be expressed in the auditor’s report.
Evaluating the Results of the Audit of Financial Statements
When forming an opinion about whether financial statements are presented fairly in all material respects, the auditor should consider all relevant audit evidence, whether or not it appears to corroborate or contradict the assertions in the financial statements. This evaluation should include:
Performing Analytical Procedures in the Overall Review
The auditor should read the financial statements and disclosures as part of an overall review and perform analytical ...