An auditor conducting an audit in accordance with ______________is responsible for obtaining reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether caused by fraud or error. a. ISAs b. None of the options c. IFRS d. IAS

Q: Which of the following case, an audit opinion with unqualified Report with Modified Wording will be…

A: Sometimes a company can receive unqualified report, but it is unlike the other unqualified report as…

Q: Under what state of affairs it implies that an auditor has obtained sufficient & appropriate audit…

A: Audit is the Independent examination of the Financial statement of the company

Q: Members of the audit engagement team are required to discuss the susceptibility of the entity's…

A: Audit frauds are conducted to hide the actual position of the financial statements of the company to…

Q: Auditing} 10. Choose the circumstances in which financial statements are not true and fair. a. When…

A: An auditor is a person who is responsible for auditing the financial statement of the company and…

Q: The auditors are responsible for performing an independent audit of the financial statements and…

A: Audit is the scrutinizing of the records and reports of an entity so as to disclose a true view of…

Q: t kind of report must an auditor submit

A: Persuasive audit evidence enables the auditor to express audit opinion without confusions.

Q: The auditor will issue un-qualified audit report with explanatory paragraph when: Select one: a. The…

A: Auditor need to verify whether the financial statement is giving a true and fair view of the…

Q: The auditor is not expected to, and cannot, reduce audit risk to zero and cannot therefore obtain…

A: Auditor An auditor refers to the person who is responsible for reviewing the company’s financial…

Q: The auditors have a responsibility to design the audit to provide reasonable assurance of…

A: The Primary responsibility of the auditors is to a express an opinion on the financial statements…

Q: S1: When the auditor expresses a qualified or adverse opinion, communicating other key audit matters…

A: An Auditor is an important person who has all the Accounting rights reserved to Audit a company's…

Q: f the auditor believes that a misstatement is or might be intentional and the effect on the…

A: Auditor: The auditor is the professional person who is appointed to conduct the official scrutiny of…

Q: The auditor shall express what kind of opinion when the auditor, having obtained sufficient…

A: Auditor will review the financial statements of a firm and perform auditing procedures, where the…

Q: Which of the following case, an audit opinion with unqualified Report with Modified Wording will be…

A: Unqualified report with modified wordings means with the view of auditor, the financial statement…

Q: S1: The risk of material misstatement of the financial statements is generally lesser when account…

A: It is required rather necessary for an auditor to obtain sufficient evidence and be independent…

Q: Under which section of the audit report the matters that pose challenges to the auditor in obtaining…

A: "Key audit matters" is the section of the audit report that contains the issues that the auditor…

Q: Which of the following statements is not true with respect to the  auditors' report on internal…

A: An audit report is crucial in order to determine the reliability of the financial reports of an…

Q: 1)An auditor’s engagement letter most likely will include A.A request for permission to contact the…

A: Solution Note : As per the Q&A guideline we are required to answer the first question only .…

Q: 8 Answer is not complete. a. Evaluating the effectiveness of the client's internal control in…

A: Risk Assessment: The  client’s internal  control  is evaluated to get the effectiveness of it. It is…

Q: In accordance with ISA 315, the auditor shall identify and assess the risks of material misstatement…

A: ISA 315 -IDENTIFYING AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING…

Q: If an auditor believes that a misstatement might be intentional and the effect on the financial…

A: c) If the auditors prepare the procedure and if check whether the fraud have taken place or going to…

Q: 17 1. By providing reasonable level of assurance on audit reports on financial statements, the…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Which of the following statement is incorrect about documentation of the audit procedures performed…

A: Audit documentation refers to the records or documentation of procedures that auditors performed.…

Q: Generally, audit evidence cannot be obtained entirely through substantive procedures   True or…

A: Substantive procedures are the method or audit tests designed by an auditor to evaluate the…

Q: The auditors determined that the entity is suffering financial difficulty and its going concern…

A: Unmodified Opinion is given by the auditor when all the financial statements are presented fairly in…

Q: In which of the following cases should an Unqualified Report with Explanatory Paragraph be issued?…

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

Q: If the audit report states that the financial statement is not free from material misstatements , it…

A: Audit report is the statement given by the auditor on the financial statements and reports of any…

Q: 6. A major purpose of the audit is to give outsiders assurance that the financial statements are…

A: An audit is an independent examination of financial statements whether the underlying entity is…

Q: Under which clause of ISA, the auditor's responsibilities relating to prevention and detection of…

A: Auditor is the person who is responsible for audit work. Audit means examination or review of books…

Q: {Auditing} 21. The scope of an audit is the determination of the range of the activities and the…

A: The term "audit" refers to the process of determining the information's trustworthiness and…

Q: Which of the following factors are to be considered by the auditor to express a modified audit…

A: Auditor's opinion is based on the review of the financial statements of a company. An auditor's…

Q: -8. Assume, that the auditor decideș to only, perform substantive tests of details when auditing the…

A: The Correct option is - (c) - It means in both the situations given in option (a) and in option (b)…

Q: S1: When an Other Matter paragraph is included to draw users' attention to a matter relevant to…

A: Solution: False, When an Other Matter paragraph is included to draw users' attention to a matter…

Q: 19-Which among the following is the most important limitation of an audit, which result in most of…

A: External audit means the examination performed by an external party who is professionally qualified…

Q: 8. In which of the following situations would an auditor originally choose between expressing a…

A: Qualified opinion: A qualified opinion can be issued by the auditor in the following two cases:…

Q: 11. Which of the following is an example of an assurance engagement providing limited assurance? A.…

A: Assurance Engagement:-It means it is an engagement where a practitioner expresses his or her opinion…

Q: {Auditing} 15. Find the nature of materiality if the client incorrectly selects and applies…

A: The nature of materiality refers to the fact that the information included in the financial…

Q: perform in auditing

A: The statement S1 is true because the auditors plan the substantive procedures based on the result of…

Q: 27) Which of the following statements are True  i. The auditor has a responsibility to plan and…

A: The auditor has a responsibility to plan and perform the audit so as to obtain reasonable assurance…

Q: 36 Which one of the following options is the basis for opinion for an auditor? a. Only Sufficient…

A: Auditing means the independent checking of the company's operation by an outsider person known as an…

Q: Question 25 When performing an audit of a public company, PCAOB standards do not require the…

A:

Q: asarju for Sem III 202 General / BAAC4203 Auditing and Control-2 FINAL EXAM If the auditor concludes…

A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 9. In which of the following types of reports do the auditors express negative assurance? Group of…

A: Negative assurance is the assurance which is provided by auditor in the absence of positive…

Q: The use of CIS will least likely affect the       a.   The procedures followed by the auditor in…

A: CIS in auditing :     CIS stands for Computer Information System, it is used in daily operations of…

Q: 25. Which of the following would not be included in an accountant's review report on the financial…

A: Accountant's Review Report - Accountant's Review report includes report on financial information,…

Q: The auditor shall express ________opinion when he concludes that there are possibilities of material…

A: An adverse opinion is defined as the professional opinion, which is used to prepare an auditor…

Q: In the context of documentation of the audit procedures performed and audit evidence obtained the…

A: Audit documentation Enable the engagement team to be accountable for its work.

Q: 2. The auditors who find that the client has committed an illegal act would be most likely to…

A: When auditors discover that a client has engaged in illegal activity, they are more likely to leave…

Q: Q. According to ISA 200, Which of the following statement is true with respect of inherent…

A: Audit is the process of verifying and examining the books of accounts and financial information in…