The information used by auditor in arriving at conclusions on which auditor’s opinion is based is called ________________ Audit Evidence Substantive procedures Vouchers Auditor’s Report Show  Q: When an auditor uses the work of an expert, who has the responsibility for arriving at ar overall… A: Introduction:- The auditor’s use of the work of an expertise in a field other than accounting or… Q: The major purposes of obtaining a client representation letter include: Select one: a. To… A: The letter of representation is a letter drafted by the client to the auditor. This letter of… Q: Which section of the audit report contains the important matters communicated to and addressed by… A: THOSE MATTERS THAT IN THE AUDITOR'S PROFESSIONAL JUDGEMENT ARE MOST SIGNIFICANCE ARE SHOWN UNDER THE… Q: Discuss the duties and responsibilities of a CPA. Consider why independent auditors' reports are… A: A Certified Public Accountant (CPA) is a certified accounting practitioner who has the Certified… Q: a. Describe how professional skepticism will assist the auditor to perform the audit effectively. b.… A: Professional skepticism means an attitude that includes a questioning mind, being alert to… Q: Audit documentation is the written record of the basis for the auditor's conclusions that provides… A: Audit Documentation is the record of all the Audit procedures that are performed, sufficient Audit… Q: Where the auditor should summarize the overall audit strategy that contains the key decisions about… A: Solution: - Where the auditor conduct an audit, At the time of conduct the audit auditor should… Q: Auditors perform analytical procedures in the planning stage of an audit for the purpose ofa.… A: Auditing is a process of examining the financial statement and internal control of an organisation.… Q: Define the concept of materiality in the context of financial reporting. What is the difference… A: Materiality in Financial Statement:- Materiality in Financial Statement means the impact of omission… Q: Understand the fundamental principle of reporting and identify the basic contents of the auditors’… A: Audit: Audit is the process of verification of the compliance of the financial statements. It… Q: The particular and specialized actions that auditors take to obtain evidence during a specific… A: Auditing: In auditing, auditors verify the correctness and fair presentation of financial… Q: udit working papers are used to record the results of the auditor's evidence-gathering procedures.… A: Solution: When preparing working papers, the auditor should remember that working papers should be… Q: The auditor shall communicate with those charged with governance an overall approach and scope of… A: Auditor is the person who is responsible for performing audit work for the business. Audit means… Q: During the reporting phase, what technique is used to assess if the financial statements reflect the… A: solution dear student as per bartleby guideline we are required to solve the first question only .… Q: Which of the following aspects are required to be included in the basis for opinion section in the… A: Auditor Opinion The foremost responsibility of an Auditor to his client to express the opinion… Q: A tool used by auditors that serves as a cue to guiding audit planning around management’s… A: Auditor is an individual approved to audit and confirm the exactness of monetary records and… Q: The auditor shall communicate with those charged with governance an overall approach and scope of… A: The auditor shall communicate with those charged with governance an overall approach and scope of… Q: he auditor shall plan the audit so that in can be performed effectively. The auditor shall study… A: solution: The auditor shall plan the audit so that in can be performed effectively. True Explanation… Q: The auditor should summarize the overall audit strategy that contains the key decisions about the… A: Click to see the answer Q: The preparation of audit documentation is an integral part of an auditor’s examination of financial… A: Audit Documentation: Audit documentation is a written record that discloses the conclusions of… Q: What are the objectives of an audit risk assessment? Explain why a risk assessment performed during… A: Click to see the answer Q: What are the objectives of an audit risk assessment? Explain why a risk assessment performed during… A: Audit risk assessment is such a procedure which are all performed for the purpose of understanding… Q: n assessing whether to accept a client for an audit engagement, an auditor should consider the: A: The objective of the auditor is to accept an audit engagement for a new or existing audit client… Q: The auditors' understanding established with a client should be established through a(an): Select… A: Auditor is person who verifies the truthfulness of financial statements and its accuracy. Whose… Q: The form and content of audit engagement letters may vary for each client, but they would generally… A: Answer - The form and content of audit engagement letters may vary for each client, but they… Q: In which of the following paragraphs of an auditor's report for a nonissuer does an auditor… A: An auditor’s report is that document which is presented by the auditor for the company quarterly,… Q: Audit Evidence means ___________ used by the auditor in arriving at the conclusions on which the… A: Audit: It can be defined as the examination and inspection of the company’s financial statements. Q: Audit documentation is the written record of the basis for the auditor's conclusions that provides… A: Audit Documentation:-It refers to the detailed documents and procedures which the auditor performed,… Q: Terms of auditing and duties and responsibilities of auditors are discussed through a. Letter of… A: The engagement letter explains in detail the business relationship of the client and the appointed… Q: Required: For each of the above events, state the appropriate action (if any) that the auditor would… A: Click to see the answer Q: Required: For each of the above events, state the appropriate action (if any) that the auditor would… A: Click to see the answer Q: A CPA accumulates various types of evidence on which to base the opinion on financial statements.… A: Audit Confirmation: Audit confirmation is the procedure of obtaining the information from the… Q: Explain what types of audit opinions auditors can issue and what are the possible reasons for… A: Since you have asked multiple question, we will solve the first question for you. If you want any… Q: Describe the financial statement's aims and purposes, and explain how the auditor intends to verify… A: This question dells with the financial statement's aims and purposes, and explain how the auditor… Q: The most reliable types of audit evidence the auditor can obtain are: a. Physical examination by… A: Audit evidence: It can be defined as the information collected or obtained by an auditor during the… Q: Auditing standards are: a. Ways to obtain / collect proof of transaction b. A collection of rules… A: Audit is defined as the examination of the books of accounts or financial statement of the entity… Q: Describe the users of audited financial statements and the decisions that they need to make based on… A: Users of Financial statements: When referring to users of financial statements, we're talking about… Q: Evidence is generally considered appropriate when: Select one: a. it has been obtained by random… A: The question is multiple choice question Required Choose the Correct Option Q: A document which the auditor receives from client ,but which was prepared by someone outside the… A: Auditing is the process of examination or verification of books of accounts of the business in order… Q: Analytical procedures are an important part of the audit process and consist of the evaluation of… A: Planning the audit Audit planning is the vital and detailed program gives instructions about how… Q: he auditor has a responsibility to plan and perform the audit so as to obtain a _________ about… A: An audit is conducted with the objective that the financial statement that they audit provide a true… What means all of the information used by the auditor in arriving at the conclusions on which the auditor's opinion is based?Audit evidence is all the information, whether obtained from audit procedures or other sources, that is used by the auditor in arriving at the conclusions on which the auditor's opinion is based.
What purpose does an auditor have in obtaining audit evidence?Auditing evidence is the information collected by an auditor to ascertain the accuracy and compliance of a company's financial statements. The auditing evidence is meant to support the company's claims made in the financial statements and their adherence to the accounting laws of their legal jurisdiction.
What is the measure of the quality of audit evidence?Obtaining more audit evidence, however, may not compensate for its poor quality. A5. Appropriateness is the measure of the quality of audit evidence; that is, its relevance and its reliability in providing support for the conclusions on which the auditor's opinion is based.
Why audit evidence is important?Auditing evidence provides your auditors with the information that will assist them in their determination of whether the entity's financial statements are accurate and true. Auditing evidence also corroborates the information provided by management through the financial statements.
|
The information used by auditors in arriving at the conclusion on which the audit opinion is based
zusammenhängende Posts
Urheberrechte © © 2024 ihoctot Inc.
