(TCO H) Which of the following expressions most likely would be included in a management representation...
(TCO H) Which of the following expressions most likely would be included in a management representation letter?
1. We do not intend to provide any information that may be construed to constitute a waiver of the attorney-client privilege.
2. There are no significant deficiencies in internal control identified during the prior-year's audit of which those charged with governance are unaware.
3. Certain computer files and other required audit evidence may exist only for a short period of time and only in computer-readable form.
4. No events have occurred subsequent to the balance sheet date that require adjustment to, or disclosure in, the financial statements.
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(TCO H) Which of the following expressions most likely would be
included in a management representation...
Which of the following most likely would cause an auditor to consider whether a client's financial...
Which of the following most likely would cause an auditor to consider whether a client's financial statements contain material misstatements? Management did not disclose to the auditor that it consulted with other accountants about significant accounting matters. The chief financial officer will not sign the management representation letter until the last day of the auditor's fieldwork Audit trails of computer-generated transactions exist only for a short time. The results of an analytical procedure disclose unexpected differences.
Which of the following matters most likely would be included in a management representation letter? Group...
Which of the following matters most likely would be included in a management representation letter? Group of answer choices An assessment of the risk factors concerning the misappropriation of assets. An evaluation of the litigation that has been filed against the entity. A statement that the effects of all known or possible litigation and claims have been accounted for and disclosed. A statement that all material internal control weaknesses have been corrected.
Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee
1. Which of the following matters would an auditor most likely consider to be a significant deficiency to be communicated to the audit committee? A. Management's failure to renegotiate unfavorable long-term purchase commitments.B. Recurring operating losses that may indicate going concern problems.C. Evidence of a lack of objectivity by those responsible for accounting decisions.D. Management's current plans to reduce its ownership equity in the entity. 2. After obtaining an understanding of internal control and arriving at a preliminary assessed level...
Which of the following most likely would cause an auditor to consider whether a client's financial statements contain material misstatements? Management did not disclose to the auditor that it consulted with other accountants about significant accounting matters. The chief financial officer will not sign the management representation letter until the last day of the auditor's fieldwork Audit trails of computer-generated transactions exist only for a short time. The results of an analytical procedure disclose unexpected differences.
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