The information that auditors use when arriving at their opinion on the fair presentation of the...
The information that auditors use when arriving at their opinion on the fair presentation of the client’s financial statements is called _______. A. audit evidence B. relevant assertion C. receivable confirmation D. working papers
Homework Answers
Correct answer-----------(A) Audit evidence.
.
Audit evidence includes conformations, enquiry reports, working papers etc.
Audit evidence is used to ascertain an opinion that whether financial statements as a whole are free from material misstatement or not.
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The information that auditors use when arriving at their opinion
on the fair presentation of the...
QUESTION 3 The information that auditors use when arriving at their opinion on the fair presentation...
QUESTION 3 The information that auditors use when arriving at their opinion on the fair presentation of the client’s financial statements is called _______. A. audit evidence B. relevant assertion C. receivable confirmation D. working papers QUESTION 6 An integrated audit focuses on ________. A. integrating the internal and external audit functions B. auditing both internal control over financial reporting(ICFR) and the financial statements C. integrating component auditors D. comparing prior year results with the current year to look for...
QUESTION 2 If an audit partner reviewing an engagement was attempting to locate details of long-term...
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1A qualified opinion that is issued because of a departure from generally accepted accounting principles should...
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Question 3 (20 marks) The following statements relate to general principles or terms used in the...
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When would external auditors use the work of other external auditors and how would they incorporate...
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16) When deciding on the amount of evidence required to form an opinion on a particular...
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Simulation 5-46 (LO 5-1, 5-2,5-4) Auditors consider financial statement assertions to identify appropriate audit procedures. For...
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Statements Answer 1. The term relates to the quantity of evidence that the auditors should obtain....
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auditing Part One: True / False Questions (2.5 marks/ question) 1. An aged trial balance of...
auditing
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6. Attestation risk is limited to a low level in which of the following engagements? a...
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Simulation 5-46 (LO 5-1, 5-2,5-4) Auditors consider financial statement assertions to identify appropriate audit procedures. For items a through f, match each assertion with the statement that most closely approximates its meaning. Each statement may be used only once. Statement Assertion a. Completeness b. Cutoff C. Existence and occurrence d. Presentation and disclosure e. Rights and obligations f. Valuation Auditors perform audit procedures to obtain audit evidence that will allow them to draw reasonable conclusions as to whether the client's...
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auditing
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