A CPA accumulates various types of evidence on which to base the opinion on financial statements. Among this evidence are confirmations from third parties.Required:a. What is an audit confirmation?b. What characteristics of the confirmation process and the recipient are important if a CPA is to consider the confirmation evidence appropriate?

Q: The auditor’s report provides the analyst with an independent and professional opinion about the…

A: Auditors' report: Auditors' report is a consolidated report which is done by the auditor to report…

Q: The auditing standard that is relevant to ISA 250, consideration of Laws and Regulations in an audit…

A: An auditor is appointed by the shareholders of the company to examine the accounting books including…

Q: Breaux & Co. CPAs require that all audit documentation indicate the identity of the preparer and…

A: Audit evidence: The pieces of evidence provided by the audit team to provide their opinion with…

Q: Which of the following third parties is known by name to auditors as the audit isconducted?a.…

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: What effect will exercising professional skepticism have on the following 1. Obtaining sufficient…

A: Professional skepticism is an attitude that includes question mind, being alert to conditions which…

Q: When expertise in a field other than accounting or auditing is necessary to obtain sufficient…

A: Auditing is the verification of financial statements by the auditor who then provides judgmental…

Q: The form and content of audit engagement letters may vary for each client, but they would generally…

A: Auditing: Auditing is the investigation, inspection, or examination of the financial statements of…

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: The scope of an audit includes: a. Reliable Information b. Legal Requirements c. Entity Aspects d.…

A: The detailed examination of accounting statements of any entity by an independent auditor  is…

Q: Which of the following types of audit evidence generally is the most reliable

A: Answer:   Option B.

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: 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: What shall the auditor do when he identified any matter that, although appropriately presented or…

A: Auditing means the independent checking of company operation by outsider. Auditor is a qualified and…

Q: Describe the quality of following types of evidence giving two examples of each form of evidence…

A: 1.    (i)   The evidence obtained by the auditor is the evidence appearing before the auditor in the…

Q: Classify each of the following issues according to whether they will be (1) included in written…

A: a.   (1) included in written representations in all audits.

Q: The external auditor: Group of answer choices Tests the underlying transactions that form the basis…

A: Definition of  Audit - The audit is an independent examination of the financial information of an…

Q: corrections

A: An auditor of financial statements verify financial statements to give an unbiased opinion on true…

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: 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: Which of the following is not a content of current audit file? Copies of communication with experts…

A: The content of the current audit file: Copies of communication with experts or other auditors…

Q: The auditors’ report provides the analyst with an independent and professional opinion about the…

A: Auditors' report: Auditors' report is a consolidated report which is done by the auditor to report…

Q: Which of the following engagements is most likely to be considered an operational audit? The…

A: The management of the company is the main responsible for preparing the financial statements which…

Q: Consider the concepts of sufficient and appropriate audit evidence. Assess how audit risk relates to…

A: It is responsibility of an auditor to express his opinion on Reliability of financial statements. An…

Q: When auditors become aware of noncompliance with a law or regulation committed byclient personnel,…

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: Required: For each of the above events, state the appropriate action (if any) that the auditor would…

A:

Q: TRUE OR FALSE? WHY? The partner-in-charge of the audit engagement is obligated to review all audit…

A: The engagement  partner should  be satisfied  that the engagement  team and the auditor expert who…

Q: In auditing receivables, what are the audit objectives and how would you be performed to arrive at…

A: Auditing implies an exhaustive and formal review of your records. Auditors give extraordinary…

Q: An audit engagement letter should normally include which of the following matters of agreement…

A: Engagement Letter:   Engagement letter is a type of a contract that is prepared when a new client…

Q: Which of the following presumption is correct about the reliability of audit evidence

A: Reliability of audit evidence :-  Evidence from sources outside an entity is more reliable than…

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: In the auditing process Select one: a. the criteria for evaluating information will not vary…

A: Auditing process means process or procedure of verifying and examining books of account, operations,…

Q: Which of the following statements regarding audit evidence is generally correct?    The auditor's…

A: SOLUTION- The auditor must obtain a sufficient amount of relevant and reliable evidence to form an…

Q: Define the term "materiality" as it pertains to financial reporting. What is the difference between…

A: Financial Statement Materiality:- The effect of omissions and misstatements of information in the…

Q: Which of the following should not be considered at the planning phase of the audit? a.…

A: Please see the next step for the solution

Q: Which of the following best describes the general contents of the introductory paragraph of the…

A: Reporting principle:  A fundamental principle that guides the auditor to file a written report which…

Q: Salim is an auditor planning with engagement team members how to obtain an audit evidence. In this…

A: The answer for the multiple choice question and relevant explanation are presented hereunder :  I S…

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: The evidence considered most appropriate by auditors is best described asa. Internal documents such…

A: Audit evidence: It can be defined as the information or data obtained by an auditor during the…

Q: e auditor is governed by an audit framework as well as a regulatory environment that includes…

A: IT risks and controls must be evaluated from the top down. There are general controls and there are…

Q: Ordinarily, what source of evidence should least affect audit conclusions?a. External documentary…

A:

Q: Briefly describe the key requirements included in professional auditing standards regarding the…

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: What are some of the similarities and differences between evidence in a legal case and evidence…

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: Which of the following documents would be the most reliable evidence for an audit? Group of answer…

A: Reliable evidence: It implies to the evidence that has been obtained from a reliable and independent…