Financial Crime World

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Audit Report: Application and Other Explanatory Material

Entity Information

  • Entity: [Name of Entity Being Audited]

Audit Dates

  • Audit Start Date: {{form.ISA_Audit_Checklist_start_date_2}}
  • Audit Completion Date: {{form.Date_of_audit_completion_2}}

Requirements Attainment

Requirement 27-32: Risks and Risk Assessment

  • Requirement 27: Risks that Require Special Audit Consideration - Pass
    • Notes: [Insert notes on requirement 27]
  • Requirement 28: Risks that Require Special Audit Consideration - Pass
    • Notes: [Insert notes on requirement 28]
  • Requirement 29: Risks that Require Special Audit Consideration - Pass
    • Notes: [Insert notes on requirement 29]
  • Requirement 30: Risks for Which Substantive Procedures Alone Do Not Provide Sufficient Appropriate Audit Evidence - Fail
    • Notes: [Insert notes on requirement 30]
  • Requirement 31: Revision of Risk Assessment - Pass
    • Notes: [Insert notes on requirement 31]
  • Requirement 32: Documentation - Pass
    • Notes: [Insert notes on requirement 32]

Audit Report

This audit report has been generated based on the requirements outlined in ISA 315. The auditor has assessed the risks of material misstatement at the financial statement level and at the assertion level, and has obtained an understanding of the entity’s controls related to those risks.

The auditor has identified significant risks that require special consideration, including:

  • [List specific risks]

The auditor has also determined that substantive procedures alone do not provide sufficient appropriate audit evidence for certain risks, and has accordingly performed additional procedures to address these risks.

The auditor’s assessment of the risks of material misstatement may change during the audit as additional audit evidence is obtained. In such cases, the auditor shall revise the assessment and modify further planned audit procedures accordingly.

Audit Review and Approval

This audit report is to be reviewed and approved by:

  • Reviewer/Approver: [Insert name]
  • Date: [Insert date]

Note: This is a sample report, please modify it according to your specific requirements.