Are we have recently done with our Tier 3 and 4 PBE audit templates, we have now added steps from EG-Au9 to our Review Engagement templates.
These vary somewhat from the steps included in the audit templates as they are applicable to and adapted to a review engagement, still referring to the requirements of ISAE (NZ) 3000 (Revised).
You will see items added to any unconcluded pages. The following pages will be affected:
A1 - Control: a new area in planning headed: Statement of Service Performance and Entity Information
A11 - Materiality: An update for Performance Materiality for Entity Information and Statement of Service Performance
D1 - Using the Work of Others: Some further explanation in the heading as to how this relates to the audit of SSP's and Entity Information
Y1 - Management Report: An additional work item covering the impact of the SSP and Entity Information on the contents of the Management Letter
Z3 - Partner Review: Some further explanation in the heading as to how this relates to the audit of SSP's and Entity Information
Z4 - Review Report: Some new points around the impact of the SSP and Entity Information on the report - assessing whether qualification may be appropriate
In addition there is a new page, A10 called "Statement of Service Performance and Entity Information" which contains the requirements around planning how to audit the SSP and Entity Information including documentation and testing of outcomes and outputs.
We have also updated the Tier 3 PBE engagement letter to the illustrative example from EG-Au9
The work-flow is drawn from the requirements of ISAE (NZ) 3000 (Revised) as applied by EG-Au9.
If you have any feedback or see something that we have overlooked please let us know.