Question

63 min 38 secs 3) The services provided by internal auditors do not include: audits of financial statements for security registration statements. review of control systems that ensure compliance with company policies, laws, and regulations review of effectiveness in achieving program results in comparison to pre-established objectives and goals. appraisals of the economy and efficiency of operations. Confirmations of accounts receivable provide the most evidence for which of the following assertions? Existence. Valuation or allocation. Rights and obligations. Completeness. When reporting on comparative financial statements, auditors ordinarily should modify their previously expressed opinion on the prior-years' financial statements if the prior-years' financial statements are restated to conform with generally accepted accounting principles. auditors were predecessor auditors who have been requested by a former client to reissue the previous report. prior-years' opinions were unmodified and the opinion on the current-year's financial statements is modified due to a lack of consistency. prior-years' financial statements are restated following an acquisition in the current year.

Answer 1

Answer:

1.Internal auditor has no right to audit of financial statements.He cannot certify the financial statements for security registration.

Accordingly,the correct answer is first option i.e. audits of financial statements for security registration statements

All the reamining options fall under the scope of Internal auditor

2.The correct answer is First option,that is 'Existence'

3.The correct answer is 'prior years' financial statements are restated to confirm with generally accepted accounting priciples'