Wiley Practitioner's Guide to GAAS 2020

52AT-C 205 Examination Engagements

Overview

Objectives

Definitions of Terms

Requirements

Independence

Written Assertion

Planning the Engagement

Risk Assessment Procedures

Materiality

Identifying Risks of Material Misstatement

Responding to Risk of Material Misstatement

Tests of Controls

Other Procedures

Analytical Procedures

Procedures Regarding Estimates

Sampling

Fraud, Laws, and Regulations

Responding to Fraud or Noncompliance

Evaluating the Reliability of the Entity’s Information

Using the Work of a Practitioner’s Specialist

Using Internal Auditors

Direct Assistance

Considering Subsequent Events and Subsequently Discovered Facts

Written Representations

Other Information

Forming an Opinion

The Report

Illustration: Practitioner’s Examination Report on Subject Matter; Unmodified Opinion

Restricted Use Paragraph

Modified Opinions

Communicating with the Responsible and Engaging Partners

Documentation

Interpretations

Reporting on Attestation Engagements Performed in Accordance with Government Auditing Standards

Reporting on the Design of Internal Control

Illustrations (AT-C 205.A121)

Illustration 1. Practitioner’s Examination Report on Subject Matter; Unmodified Opinion

Illustration 2. Practitioner’s Examination Report on an Assertion; Unmodified Opinion

Illustration 3. Practitioner’s Examination Report in Which the Practitioner Examines Management’s Assertion and Reports Directly on the Subject Matter; Unmodified Opinion

Illustration 4. Practitioner’s Examination Report on Subject ...