An auditor would not render an opinion on a(an): Financial audit of financial statements. Performance audit....
|
An auditor would not render an opinion on a(an): |
| Financial audit of financial statements. |
| Performance audit. |
| Audit to determine whether a governmental department's financial information complies with specific state regulatory requirements. |
| Audit to determine whether the entity has adhered to specific compliance requirements applicable to a major program. |
Homework Answers
The Answer of above question is "Performance Audit" because its not intended to provide an overall opinion, it is performed in accordance with the principles of economy, efficiency and effectiveness. It is allowing auditors to check and inquire on implementation of rules and regulation in efficient and effective way. This audit offers to inquire with officials who are accountable for implementation of rules, regulations, policies and procedures in public sector or any other undertaking.
Add Answer to:
An auditor would not render an opinion on a(an):
Financial audit of financial statements.
Performance audit....
In auditing a not-for-profit entity that receives governmental financial assistance, the auditor has a responsibility to:...
In auditing a not-for-profit entity that receives governmental financial assistance, the auditor has a responsibility to: Group of answer choices Issue a separate report that describes the expected benefits and related costs of the auditor's suggested changes to the entity's internal control. Assess whether management has identified laws and regulations that have a direct and material effect on the entity's financial statements. Notify the governmental agency providing the financial assistance that the audit is not designed to provide any assurance...
Auditors audit "management assertions" in order to render an opinion on a client company's financial statements....
Auditors audit "management assertions" in order to render an opinion on a client company's financial statements. What are management assertions and how are they related to financial statements? Why are management assertions the focus of an audit?
An independent auditor is issuing an audit report for a governmental entity and plans to issue...
An independent auditor is issuing an audit report for a governmental entity and plans to issue separate reports on internal control over financial reporting and compliance with laws and regulations. The auditor should do which of the following? Group of answer choices Report to the governing authority that separate reports will be issued. Issue the same opinion in each report. State in the audit report that separate reports will be issued. Obtain permission from the audit committee to issue separate...
The Performance section of the "Principles Underlying an Audit" is concerned with: Multiple Choice proper planning...
The Performance section of the "Principles Underlying an Audit" is concerned with: Multiple Choice proper planning and supervision, appropriate materiality levels, and sufficient appropriate audit evidence. an audit opinion in accordance with the auditor's findings, whether the financials are presented fairly, and whether the financial are in accordance with the applicable financial reporting framework. O whether the auditor has unrestricted access to those within the entity from whom the auditor needs to obtain audit evidence. complying with ethical requirement, appropriate...
The auditor's responsibility section of the standard audit report states that the auditor is (15 A)...
The auditor's responsibility section of the standard audit report states that the auditor is (15 A) responsible for the financial statements and the opinion on them B) responsible for the financial statements C) responsible for the opinion on the financial statements .D) jointly responsible for the financial statements with management If the balance sheet of a private company is dated December 31, 2011, the audit report is dated February (16 8, 2012, and both are released on February 15, 2012,...
e. An audit of a U.S. not-for-profit organization. f. An audit of a U.S. private company...
e. An audit of a U.S. not-for-profit organization. f. An audit of a U.S. private company to be used for a loan from a publicly traded bank. g. An audit of a U.S. public company. h. An audit of a U.S. public company that is a subsidiary of a Japanese company that will be used for reporting by the parent company in Japan. 2-20 (OBJECTIVE 2-7) Ray, the owner of a small company, asked Holmes, a CPA, to conduct an...
Match each statement below with the type of audit opinion/report that would most likely be issued...
Match each statement below with the type of audit opinion/report that would most likely be issued in the circumstance. Answer choices may be used once, multiple times, or not at all. （1）The auditors determined that sufficient appropriate evidence could not be obtained because inventory records were destroyed in a fire. （2）The client failed to write down certain assets that it determined were impaired. The reasons for reporting the assets at cost instead were disclosed in the notes to the financial...
If the auditor decides that steps should be taken to prevent further reliance on the financial statements and audit repo...
If the auditor decides that steps should be taken to prevent further reliance on the financial statements and audit report due to subsequent events after issuance of the audit report, the auditor should not try to obtain client cooperation, but should immediately notify any regulatory agency having jurisdiction over the client, such as the SEC, that the audit report should no longer be associated with the client’s financial statements. a. True b. False
Which of the following are true statements? A. An auditor is responsible for detecting fraud. B....
Which of the following are true statements? A. An auditor is responsible for detecting fraud. B. When an auditor issues an opinion, they are guaranteeing the company will continue into the future. C. An unqualified audit opinion guarantees that the financial statements are 100% correct. D. The auditor tests a sample of transactions. E. The primary responsibility for fraud prevention and detection remains with those charged with governance. F. Peer reviews of audits ensure that auditing standards have been applied...
Parker is the in-charge auditor for the upcoming annual audit of FGH Company, a continuing audit...
Parker is the in-charge auditor for the upcoming annual audit of FGH Company, a continuing audit client. Parker will supervise two assistants on the engagement and will visit the entity before the fieldwork begins. Parker has completed the engagement letter and established an understanding with the Chief Internal Auditor on the assistance to be provided by the internal audit function. Which of the following activities should be considered as preliminary engagement and planning activities? (Select all that apply.) Reading the...
The Performance section of the "Principles Underlying an Audit" is concerned with: Multiple Choice proper planning and supervision, appropriate materiality levels, and sufficient appropriate audit evidence. an audit opinion in accordance with the auditor's findings, whether the financials are presented fairly, and whether the financial are in accordance with the applicable financial reporting framework. O whether the auditor has unrestricted access to those within the entity from whom the auditor needs to obtain audit evidence. complying with ethical requirement, appropriate...
The auditor's responsibility section of the standard audit report states that the auditor is (15 A) responsible for the financial statements and the opinion on them B) responsible for the financial statements C) responsible for the opinion on the financial statements .D) jointly responsible for the financial statements with management If the balance sheet of a private company is dated December 31, 2011, the audit report is dated February (16 8, 2012, and both are released on February 15, 2012,...
e. An audit of a U.S. not-for-profit organization. f. An audit of a U.S. private company to be used for a loan from a publicly traded bank. g. An audit of a U.S. public company. h. An audit of a U.S. public company that is a subsidiary of a Japanese company that will be used for reporting by the parent company in Japan. 2-20 (OBJECTIVE 2-7) Ray, the owner of a small company, asked Holmes, a CPA, to conduct an...
Most questions answered within 3 hours.
-
The governor has proposed to clean up all the trash on the side
of the highway....
asked 5 minutes ago -
molecule
lewis structure
electron geometry
molecular geometry
bond angles
polar or non polar
#valenceelectrons
I3^-
SO2...
asked 5 minutes ago -
Freedman-Nissim-Pinkas Protocol not always correct. Explain
briefly why
asked 10 minutes ago -
What is the mechanism of phthalic acid and m-xylene which
results in 2-(2,4-dimethylbenzoyl) benzoic acid ?...
asked 25 minutes ago -
describe business writing is
audience oriented
purposeful
Economical
asked 27 minutes ago -
Please explain how to solve these problems without using
excel.
A zero coupon bond has a...
asked 32 minutes ago -
Choose a disease that is caused by a defect in cell signaling.
Explain the cause of...
asked 33 minutes ago -
Oxford Company has limited funds available for investment and
must ration the funds among four competing...
asked 35 minutes ago -
Put your name on the first line in camelCase. Write a JavaScript
function to generate a...
asked 46 minutes ago -
Chapter 7 Telecommunications, the Internet, and Wireless
Technology:
Discuss some of the Internet services available to...
asked 49 minutes ago -
1. The college bookstore tells prospective students
that the average cost of its textbooks is $52...
asked 51 minutes ago -
A 2.5 kg block rests on a 30 ∘ slope and is attached by a string...
asked 1 hour ago