82. Where controls testing is undertaken, sufficient appropriate evidence will be obtained from a combination of controls testing and substantive procedures. The nature and extent of the substantive procedures required will, in part, depend on the external auditor's assessment and testing of controls. In performing audit procedures and gathering information for the various components of the ECL estimate, the auditor should reflect on whether the information obtained indicates a need to revise the assessment of the risks of material misstatement and/or the planned audit procedures (for example, because the information gathered contradicts previous findings or the auditor's expectations).

(a) Forecasts and FLI

83. Some of the sources of more persuasive evidence the external auditor might obtain regarding controls over forecasts and FLI are as follows:

• evidence of effective review and challenge by management of FLI used in scenarios for reasonableness and mitigation against recency bias (where estimates of FLI are overly influenced by recent conditions and do not fully take account of expectations of future developments); and

• evidence of the likely effectiveness of management's current estimation process from a review of the outcome of previous estimates (ie a retrospective review).

84. Evidence from substantive procedures might include: