Choose the documents which should be included in the audit documentation a. Summaries of significant matter O b. Issue memoranda O c. Audit program O d. All the options

Q: Prior to the auditor conducting an audit there are stages which need to be followed. What are these…

A: There are many phases ,which go through many process to complete the work of Audit. After receiving…

Q: The information used by auditor in arriving at conclusions on which auditor’s opinion is based is…

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

Q: Audit standards require auditors to _______. conduct specific audit procedures to identify…

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

Q: S1: Analytical procedures are required to be performed during the completion phase of the audit. S2:…

A: Analytical procedures are very important processes that are used in audit process. It is meant to…

Q: 2. In the element of audit findings, this refers to what the auditor discovered as a result of…

A: AN AUDIT FINDINGS CONSISTS OF AUDIT RESULTS AND CONCLUSIONS BASED ON APPROPRIATE ANALYSIS AND…

Q: The date of the CPA’s opinion on the financial statements of the client should be the date of the:…

A: Certified Public Accountant (CPA): CPA is the accountant who is certified and licensed to examine…

Q: ssify the information (1-10)according to the elements of an audit finding (criteria, condition,…

A: Solution Concept The elements of audit finding can be understood as Criteria The criteria for…

Q: Directions: Please select the appropriate answer on the statement below; B - If the statement is…

A: Audit procedure is different types of steps that are followed by an auditor while conducting the…

Q: An audit plan is : a. The blueprint for conducting the audit and accomplishing the audit objectives.…

A: An audit plan is "The blueprint for conducting the audit and accomplishing the audit objectives."

Q: Audit Evidence means ___________ used by the auditor in arriving at the conclusions on which the…

A: Audit: It can be defined as the examination and inspection of the company’s financial statements.

Q: Name the record in which the auditor records the audit procedures performed, the relevant audit…

A: Auditing means checking the accuracy and reliability of financial statements. In the process of…

Q: The evaluation phase of the audit is referred to as ..................................? a. Entrance…

A: Audit refers to the inspection of financial records and statement of an organization. It is…

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 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: An audit strategy memorandum containsa. Specifications of auditing standards relevant to the…

A:

Q: For each of the following independent situations, assume that any amounts would be material. (1)…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: In determining whether transactions were really exist, the direction of the audit testing should be…

A: In determining whether transactions were really exist, the direction of the audit testing should be…

Q: You have been asked to prepare a presentation to new recruits in your audit firm on the use of…

A: An audit programme seems to be a checklist of the audit processes that an auditor should undertake…

Q: written management representations, audit completion memorandum, The management letter after…

A: Audit is the term which is defined as the independent examination of the entity financial…

Q: The steps in planning an audit includes obtaining an understanding of the entity and its environment…

A: Audit Planning Planning is an important part in conducting the Audit work in the organisation.…

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: Explain the main types of audit based on its objectives.

A: Audit is a systematic examination of the financial records to check that the financial records…

Q: b) Discuss TWO (2) audit procedures to ensure sufficiency of audit evidence

A: There are various audit procedures that are used to ensure the sufficiency of audit evidence. These…

Q: In determining whether transactions have been recorded, the direction of the audit testing should be…

A: An audit is a process of examining the books of accounts by the auditor so as to know whether the…

Q: All auditing standards have:  Select one: a. An executive summary b. An objective c. A summary d.…

A: Audit is the process of checking and verifying books of account of the business in order to ensure…

Q: "The audit process oгocess

A: (Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: ne independence and objectivity as it relates to internal audit functi

A: The internal audit function refers to the process of asses the internal functions of a company as…

Q: Reading BOD minutes of meeting by the internal auditors is an example of an audit procedures called:…

A: An auditor is a person appointed to check the accuracy of the financial statements of the company.

Q: The auditor's assessment of the reliability and sufficiency of the information contained in the…

A: Audit test - The auditing Assess the reliability and sufficiency of the information contained in the…

Q: Please explain the qualified and unqualified audit report with appropriate examples

A: Auditing is the process under which a qualified experienced person with proper knowledge would be…

Q: Audit documentation is the written record of the basis for the auditor's conclusions that provides…

A: Audit Documentation:-It refers to the detailed documents and procedures which the auditor performed,…

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: ___________ is a tool for planning, directing, and controlling the audit work. a. Engagement letter…

A: Audit Programme : An audit programme is a set of guidelines that the auditors and his or her team…

Q: lassify information (1-5) according to its nature (e.g., physical, oral, documentary or evidence…

A: solution concept let us understand the type of information by its nature Physical The…

Q: Explain the difference between the overall audit strategy and the audit plan and state the key…

A: An audit strategy determines the audit's orientation, timeliness, and scope. When creating an audit…

Q: The audit report dates are: a. Closing date of client's book b. The date on which the letter of…

A: Audit report is the auditor’s opinion expressed by an internal or external auditor upon examining…

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: A(n) ________ is the detailed instruction that explains the audit evidence to be obtained during the…

A: During an audit, an auditor is required to obtain reasonable assurance that is based on the evidence…

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: What may be the possible purpose of using oral explanation in the audit documentation? O a. To…

A: Audit documentation: The records containing all the auditor's procedures, evidence obtained by the…

Q: Audit procedures are takes performed by the internal auditors and the auditee to gather the evidence…

A: The given statement has some typing errors. The correct question is: Audit procedures are specific…

Q: The most commonly used form of audit evidence is: a. Oral representation b. Written documents c.…

A: Audit evidence the supporting or all the information or sources that is used by the auditors in the…

Q: Question 2 Revisit Later Select the correct responses for below: The audit documentation shall…

A: The prime record of the auditing methods used, the evidence collected, and the findings reached by…

Q: Which part (paragraph) of the audit report appears first, according to new (ISA) auditing standards…

A: The audit is a process wherein the auditor examines and inspects that whether the financial…

Q: Define Auditing and Explain in detail about the statement " Auditing starts where Accounting End"…

A: The company's aim will be to increase the profitability of the company. The profits can be arrived…

Q: List the Summary of the Audit Process in correct phases (from beginning to end of audit): Perform…

A: The audit is conducted in order to find the error misstatement presented in the financial statement…