Auditing and Assurance Standards and Guidance

Auditing Standards (Ireland)

FRC ISAs (UK and Ireland) applicable for periods beginning on or after 15 December 2010 but before 17 June 2016

ISA (UK and Ireland) 240 The auditor's responsibilities relating to fraud in an audit of financial statements

Application and Other Explanatory Material

Evaluation of Audit Evidence (Ref: Para. 34-37 )

Analytical Procedures Performed Near the End of the Audit in Forming an Overall Conclusion (Ref: Para. 34 )

Determining which particular trends and relationships may indicate a risk of material misstatement due to fraud requires professional judgment. Unusual relationships involving year-end revenue and income are particularly relevant. These might include, for example: uncharacteristically large amounts of income being reported in the last few weeks of the reporting period or unusual transactions; or income that is inconsistent with trends in cash flow from operations.