ctiveness and audi

Q: What are examples of some of the independence requirements by the AICPA concerning external…

A: Independence ensures that auditors don't have any financial interest in the firms in which they are…

Q: Who should be members of the Audit Committee? Is there an association between Audit committee…

A: The monetary Regulation/Peraturan "Utilization controller Firms/Kantor Akuntan Publik (KAP) in…

Q: Discuss with examples, what are substantive audit procedures.

A: Substantive procedures are audit exams or methods by which products by an auditor to evaluate the…

Q: Discuss the problems associated with initiatives that has been put forward to

A: To ensure the audit committee's independence, it's a number one application for the bulk of its…

Q: hat does the standard audit report indicate about the audit's scope and the financial statement…

A: Introduction: The financial statements present an entity's financial position, results of…

Q: Clarify the difference between an organization's audit committee and its internal audit department.

A: Difference between an organisation's audit committee and internal audit department are the…

Q: What type of audit opinion is preferred when analyzing fi nancial statements? C . Unqualifi ed.

A: Audit opinion: Audit opinion can be defined as an opinion formed by an independent auditor based…

Q: What are advantages of external public audit?

A: External audit relates to the examination of financial records in connection with the financial…

Q: Distinguish between the general audit objectives and management assertions. Why are the general…

A: Auditing: Auditing is the process by which assertions made by management about financial…

Q: Explain how an audit committee could improve its effectiveness on internal auditor's internal…

A: An audit committee is a board of directors committee that is in charge of overseeing the financial…

Q: what each type of audit opinion means?

A: Audit - The audit is the independent examination of the financial aspects of the company. To obtain…

Q: Discuss the differences between management letter and legal representation letter

A: Definition:   Auditing: In auditing, auditors verify the correctness and fair presentation of…

Q: How do IAASB audit standards compare to US audit standards?

A: The International Auditing and Assurance Standards Board (IAASB) is an entity which sets standards…

Q: What types of matters would result in the auditors’ report being modified for consistency?

A:

Q: What is the purpose of the Audit Committee?

A: Definition:   Audit committee: Audit committee is a committee formed to oversee the financial…

Q: Auditors' opinions and reports serve what function

A: Definition \auditing: An auditor undertakes a comprehensive review of all pertinent data,…

Q: Explain what is meant by the Single Audit Act. What is its purpose?

A: Single Audit Act refers to the auditing of organization's wide financial statement and federal…

Q: Discuss the difference between the Audit Committee Report and Auditors Report. What is the basic…

A: Auditing refers to the evaluation of books of accounts and financial reports prepared by the company…

Q: What is the objective of Statement on Auditing Standards No. 99?

A:

Q: y issues that affect going concern and/or raise issues and explain the audit steps

A: The financial statements are prepared with an assumption that the entity is a going concern in…

Q: s how auditor's independence might impact 'audit quality'.

A: Auditor's independence is one of the key characteristics to be followed by the auditor during the…

Q: What role does the audit trail play in terms of configaration?

A: Audit trail is a series of documents, files or other evidence of accounting transaction which are…

Q: Introduce and explain the principles of independence and objectivity, and explain how they apply to…

A: Principle of INDEPENDENCE -  This principle states that the auditor should perform independently…

Q: What is the purpose of an audit strategy memorandum? What information should it contain?

A: Audit Strategy Memorandum: After the calculation of all financial statement risks, identification…

Q: What would be the audit resolution in case there is a difference of opinion in the engagement team?…

A: Auditing is the process of checking and verifying the accuracy and authenticity of books of accounts…

Q: What is the audit committee’s contribution to strategy?

A: An audit committee is a committee which looks after, directs and guides for the financial process,…

Q: Which of the following is NOT a task performed in the audit planning phase? a. reviewing an…

A: In audit planning phase, some tasks are performed: Reviewing an organization’s policies and…

Q: Discuss the problems associated with initiatives that been put forward to ensure independence of…

A: SOLUTION- To ensure the audit committee's independence, it's a number one application for the bulk…

Q: Explain the difference between an external audit engagement and a Review Engagement.

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

Q: Which of the following categories of principles is most closely related to gathering audit…

A:

Q: what are the auditor Rules for Independence regarding the services they can offer the same client?

A: Auditing is the process of evaluation of companies' financial statements and reports by the auditor…

Q: According to IAASB what are the functions of an internal audit?

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

Q: What is the difference between an external audit engagement and a Review Engagement, please explain.

A: External audit engagement and a Review Engagement will be explained:

Q: Which of the following best describes the relationship between auditing and attestation engagements

A: Auditing is a subset of attestation engagements that focuses on the certification of financial…

Q: What type of audit report does a client typically want or hope for?

A: Audit report is the statement wherein the auditor gives its view on the financial statements of an…

Q: hether or not a report is effective?

A: To evaluate an organization's strategy's performance and efficiency, consider how it ties your goals…

Q: What type of audit opinion is preferred when analyzing fi nancial statements? A . Qualifi ed

A: There are different types of audit opinion  1) Qualified 2) Adverse  3) Unqualified

Q: statements about audit evidence is correct

A: First option is wrong because the statement is about relationship between audit objective and audit…

Q: How does evidence contribute to conducting a complete and ethical audi

A: Audit entails conducting an official inspection of a company’s books of accounts. The inspection and…

Q: A uniform set of auditing practices should be established (GAAS). What is the purpose of GAAS?

A: This question deals with a uniform set of auditing practices to establish(GAAS).

Q: who participates in the pre-audit conference, and what topics should be covered

A: The audit is an examination of books of accounts by an auditor and physical verification of…

Q: advantages and disadvantages of a qualified audit opinion

A: Audit opinion is 4 types that are Unqualified opinion- In the opinion of independent auditor…

Q: Do you believe the internal audit activity should be independent? Explain.

A:

Q: "Other information" is a term that has been used in the audit opinion. An explanation is needed.

A: Introduction: Auditing is the process of evaluating the financial statements of a business entity in…

Q: Whare are the advantages of internal goverment audits?

A: Traditionally, there was no concept of Government Audits since Government was the one which…