A document which the auditor receives from client ,but which was prepared by someone outside the client's organization is an ?

Q: Define materiality as it is used in audit reporting. What conditions will affect the auditor’s…

A: IAS 320 Materiality in planning and performing an audit, describes the omission or misstatement that…

Q: Compare and contrast the work of an internal auditor and an independent external auditor.

A: An audit report is provided by the independent external auditor of the company that contains the…

Q: What is the difference between an internal auditor and external auditor?

A: Auditing is the process of thorough examination of financial records with an aim to express an…

Q: What tasks do auditors perform during audit planning, and what techniques are used?

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Q: The Responsibilities principle requires that auditors be responsiblefor having appropriate…

A: Definition: Independent auditor: Independent auditor or external auditor is the accountant who is…

Q: When would an auditor be hired to perform a compliance audit.

A: An independent professional who is responsible for the examination of the financial statements of an…

Q: What are the roles of internal and external auditors?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: How might an auditor individual characteristics affect his or her professional judgment about…

A: The concept of Materiality refers to the recognition of some matters which either individually or…

Q: Which one below is not an example of auditors'substantive testing? Select one: a. Controls testing.…

A: Substantive testing is such an audit procedure that is used for examination of financial statement…

Q: Is it possible for external auditors to make use of the work done by internal audit teams?

A: This question explains about auditors to make use of the work done by internal audit teams.

Q: For what reasons do auditors obtain an understanding of a client’s internal control?

A: Auditor: The person who is considered responsible for assessing the credibility of the financial…

Q: In the auditor's current audit documentation files, what is regarded to be the most significant…

A: Right now, we're working on the following documents: The term "current files" refers to collecting…

Q: Who must approve non-audit work performed by a firm for a client?

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Q: What is the relationship between the audit procedure and audit evidence used in the auditor's work…

A: Audit working papers contains the findings of the auditor which have been obtained in the course of…

Q: The auditor's understanding established with a client should be confirmed through a (an):    Oral…

A: please like the answer your response matters The correct answer is option B i.e. Written…

Q: Prior to SOX, external auditors were required to be familiar with the client organization’s internal…

A: Sarbanes-Oxley Act: The Sarbanes-Oxley Act (SOX) is introduced for protecting the investors from the…

Q: auditor obtains sufficient understanding of the internal control structure

A: Auditing is done to verify whether the underlying financial statements show true and fair view of…

Q: What are the fundamental requirements that must be completed before auditors may produce an…

A: The following is the definition of an unqualified audit opinion: An audit opinion is a verification…

Q: Is it permissible to provide the customer copies of the auditor's previous paperwork? If so, are…

A: Auditor refers to examination of the financial statements of the company in order to check the…

Q: How does an audit team use materiality on an audit engagement?

A: Rule of thumb and professional judgement are being relied by an auditor to determine materiality.…

Q: What form of internal control documentation will an auditor likely use when they are not personally…

A: An Auditor is the person qualified as a Chartered Accountant who takes care of Audit.

Q: What should an auditor understand with respect to Information and Communication on an audit?

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

Q: Is it allowed to send copies of the auditor's earlier paperwork to the client? If yes, are there any…

A: solution concept as per the standards on auditing , audit documentation the audit working papers and…

Q: Is internal auditing an assurance activity or a consulting activity? Cite illustrative example/s to…

A: Internal Auditing: Internal auditing is a service provided by an independent third party to review…

Q: Understand recent developments that affect auditors’ liability to clients and third parties.

A: An auditor’s legal liability or responsibility is to offer customer’s an inexpensive assurance that…

Q: How do the NOCLAR standards change the traditional practice of maintaining confidentiality of audit…

A: Auditing is defined as onsite validation activities such as: Inspection or investigation of…

Q: Explain what is meant by lapping and discuss how the auditorcan uncover it. Under what circumstances…

A:

Q: Analyze what information the auditors are needed to provide to those in charge of the client's…

A: Introduction: All significant internal control deficiencies and material weaknesses must be…

Q: Can the work of internal auditors be used by external auditors?

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Q: What are the types of work performed, the overall areas of focus, and/or other relevant information…

A: Answer:-  Internal audit meaning:- An organization's internal control includes corporate governance…

Q: The document which is essentially the contract between the auditor and the client which outlines the…

A: The document containing the contract between the auditor and the client which outlines the…

Q: under what circumstances, if any, can an audit firm rely on the audit procedures performed by…

A: Yes, an Audit Firm may rely on the Audit Procedures performed by another Audit firm subject to…

Q: Is it OK to give the client copies of the auditor's previous documents? If so, what should the…

A: Independent review of accounting and financial records is referred to as auditing. The purpose of…

Q: Explain the types of auditor’s reports.

A: Auditor's report refers to assessment that provides auditor's opinion on the validity and…

Q: llows an auditor to perform w

A: As per the AICPA code of conduct (PCAOB ), Which are guidelines issued for CPA ( Auditor) To follow…

Q: Do you know what the auditor's current audit documentation files contain?

A: This question dells with  the auditor's current audit documentation files contain

Q: What is the ULRD? What information does the ULRD provide to the audit team?

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Q: Obtaining an understanding of the internal control structure is required for first time audit…

A: Internal control is an efficient system of control is established by the management in the conduct…

Q: Audit Client Acceptance Procedures

A: Audit Client Acceptance Procedures are certain procedures to be followed by the auditor before…

Q: O The determination of how to audit and review a client's subsequent events is a subjective one. The…

A: Subsequent events refers to an event that occurred between the reporting period and the date of…

Q: What are the basic audit procedures usually used by external auditors?

A: Note -Since you have posted multiple questions, we are providing the solution for the first…

Q: What does auditors examine?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: external auditors to utilize the work of internal auditors

A: External auditors are auditors appointed by the shareholders to report on the financial affairs of…

Q: The client and the auditor usually agree that some schedules, analyses, reconciliations, and…

A: Auditing is reviewing the financial statement of the company and giving an opinion on whether the…