relevant technology element Identify and assess risks arising from IT Understand, identify, and test relevant ITGC Conclude on risks arising from IT and determine audit response Evaluate deficiencies in ITGC
important that the auditors carefully assess the audit risks and plan their audits accordingly. This becomes particularly important as the effective date of the new auditor’s report is fast approaching, where
, how does the firm inform its personnel or what kind of process that the firm use to ensure that its staff evaluate clients risk? 5 Regarding integrity checks does the firm’s conduct, for example
evaluate clients risk? 5 Regarding integrity checks, does the firm conduct, for example: • communications with existing or previous professional accountants; • inquiry of personnel/third parties such as
); (5) review procedures and processes in the management of information security incidents, after the testing under (4) is carried out, at least once a year; (6) evaluate the results of the testing under
) establish conditions and controls relating to information security in an agreement signed by both parties; (2) monitor, evaluate, review and audit service delivery of the outsourcee regularly; (3) re-assess
investment products within the same asset class. • Use appropriate metrics to compare similar investments. • Evaluate the real rate of return on investment products. • Confident to undertake research on
relation to threats to independence and objectivity of EQR; (d) complying with provisions of law and regulation (if applicable); If yes, please respond to following questions. - How does the firm assess an
assess the incremental risks associated with their staff providing personal services while other firms, which collected the necessary information, had no means to verify the reliability or the completeness