Social Audits – Socially Responsible Auditing Standards

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Competence

  • The engagement shall be performed by a practitioner having adequate technical training and proficiency in the attest function.
  • The engagement shall be performed by a practitioner having adequate knowledge in the subject matter of the assertion.
  • The practitioner shall perform an engagement only if he or she has reason to believe that the following two conditions exist:
    • The assertion is capable of evaluation against reasonable criteria that either have been established by a recognized body or are stated in the presentation of the assertion in a sufficiently clear and comprehensive manner for a knowledgeable reader to be able to understand them.
    • The assertion is capable of reasonably consistent estimation or measurement using such criteria.

Independence

  • In all matters relating to the attest engagement, an independence in mental attitude shall be maintained by the practitioner who shall not have participated in the development of the assertion.

Due Care

  • Due professional care shall be exercised in the performance of the engagement.

Planning

  • The work shall be adequately planned and assistants, if any, shall be properly supervised.

Control Structure

  • A sufficient understanding of the communications and control structures is to be obtained to plan the audit and to determine the nature, timing, and extent of tests to be performed.

Evidence

  • Sufficient evidence shall be obtained to provide a reasonable basis for the conclusion that is expressed in the report.

Standards of Reporting

  • The report shall identify the assertion being reported on and state the character of the engagement.
  • The report shall state the practitioner�s conclusion about whether the assertion is presented in conformity with the established or stated criteria against which it was measured.
  • The report shall state all of the practitioner�s significant reservations about the engagement and the presentation of the assertion.
  • The report on an engagement to evaluate an assertion that has been prepared in conformity with agreed-upon criteria or on an engagement to apply agreed-upon procedures should contain a statement limiting its use to the parties who have agreed upon such criteria or procedures.

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