he auditor shall plan the audit so that in can be performed effectively. The auditor shall study and evaluate the internal control system of the client to express an opinion about the operating effectiveness of such internal control system Group of answer choices False, True False, False True, True True, False

Q: Which of the following statements is correct concerning the understanding of internal control needed…

A: As per relevant standard related to internal control auditor must understand the control environment…

Q: For each of the following, determine how the effectiveness of the entity's internal control affect…

A: a)  As the entity's internal control is more effective. Auditor would assess less level of material…

Q: The auditor should seriously consider the profitability of the engagement , when he decides whether…

A: The auditor should seriously consider the profitability of the engagement , when he decides whether…

Q: document

A: audit documentation is generally made in written.

Q: hoose the one correct answer. Which of the following audit approaches is most likely to provide an…

A: Solution : Which of the following audit approaches is most likely to provide an auditor the most…

Q: A key criterion in auditing (both internal and external) is independence. In what way (s) can…

A: There are mainly two types of audits in a business that are external audit and internal audit.…

Q: Identify the type of evidence the auditor would gather in assessing the integrity of management?…

A: Auditor is the person who is responsible for auditing and verifying books of accounts and records 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: When gaining an understanding of the client by speaking with the management of the client, the…

A: An auditor is a person who is appointed to check the accuracy of the financial statements prepared…

Q: A conceptually logical approach to the​ auditor's evaluation of internal control consists of the…

A: Please see Step 2 for required information.

Q: Which of the following is least likely to be used as evidence by an external auditor?a. Substantive…

A: Auditor is the person who is responsible for the identify the error and fraud presented in the…

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: What is (are) the purpose(s) of audit documentation?  Group of answer choices  Provide a…

A: Solution: The purpose(s) of audit documentation is:   1. Provide a reasonable assurance that the…

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

A: An audit is a process of checking and verifying the books of account and financial information of…

Q: determine if statement 1 and 2 are true or false 1 - The overall audit strategy sets the scope,…

A: 1 - The overall audit strategy sets the scope, timing, and direction of the audit, and guides the…

Q: When an auditor is planning an audit, the auditor should:   Consider whether the extent of…

A: Audit: It is a systematic examination of books of accounts of an individual or a firm. It is done by…

Q: The auditors' understanding established with a client should be established through a(an):  Select…

A: Auditor is person who verifies the truthfulness of financial statements and its accuracy. Whose…

Q: Identify two types of information in the client’s minutes of theboard of directors meetings that are…

A: Meeting minutes or mom can be described as a written record of all that occurred during a meeting…

Q: Auditing standards indicate that if the preliminary control risk assessment is low, the auditor then…

A: The selection of control by the auditor is based on assessing whether the entity's controls…

Q: When planning the audit of internal controls for an issuer, the audit team shoulda. Identify…

A: Internal control is a mechanism or procedure that the company implements so that the integrity of…

Q: You are required to read the following statement carefully, and then, discuss the factors behind the…

A: The auditor needs to obtain a reasonable assurance that the financial statement is free from…

Q: A document which the auditor receives from client ,but which was prepared by someone outside the…

A: Auditing is the process of examination or verification of books of accounts of the business in order…

Q: What is  the relationship between the external auditor and the organization. What steps have been…

A: An external auditor is the person or firm who verify the financial statements of the organization…

Q: The audit director in charge is available for consulting and he approves the audit engagement before…

A: An audit is assessing vouchers, books of accounts records to see that they are accurately and…

Q: To obtain an understanding of the relevant policies and procedures of internal control, the auditor…

A: INTERNAL CONTROLS ARE THE RISK MITIGATION STEPS TAKEN TO STRENGTHEN THE ORGANIZATION'S SYSTEMS AND…

Q: In making a decision whether to accept or reject an engagement, an auditor should consider…

A: Before getting engaged in audit, the auditor must ensure that certain vital parameters are fulfilled…

Q: uld consider whether A. the evidential matter obtained from the study of the internal control…

A: Internal control refers to the systematic approach of formulating policies, programs, rules in order…

Q: Auditors are always required to gain a minimum understanding of internal controls, whether or not…

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

Q: Which of the following audit approaches is most likely to provide an auditor the most confidence in…

A: The analytical approach is adopted by the company in order to assure that at the end of the…

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 statements is correct concerning analytical procedures used in planning an…

A: Analytical procedures:   Analytical procedures are the examination of the financial statements. The…

Q: The external auditor should fulfill several performance responsibilities in order to obtain…

A: Audit = Auidit is external examination of Books of Account to check whether the financial statements…

Q: Answer the below: What do you understand by attestation services? Discuss the responsibility and…

A: Attestation Services:-These are services when a certified Public Accountant (CPA) expresses his…

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

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

Q: In making a decision whether to accept or reject an engagement, an auditor should consider…

A: An auditor should accept the audit engagement after checking certain preconditions and evaluation of…

Q: What are the objectives of an audit risk assessment? Explain why a risk assessment performed during…

A: Audit risk assessment is such a procedure which are all performed for the purpose of understanding…

Q: The audit program is a list of procedures used to gather sufficient and appropriate audit evidence.…

A: Audit program:-   It is detailed plan of auditing work. It specify list of procedures used to gather…

Q: As an auditor of ABC Co, apply auditing principles and standards examine the expectation gaps in the…

A: Expectation gap in Auditing means if the company and its management has some expectation in the…

Q: The audit plan is more detailed than the overall audit strategy in that it includes the nature,…

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

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: Refer to the fundamental principles governing an audit. Under the responsibilities principle,…

A: Given information is: Under the responsibilities principle, auditors are required to exercise due…

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: Auditors are required to obtain a sufficient understanding of each component of a client’s internal…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: Critically evaluate the reality of auditor indpendence and the arguments for and against the role of…

A: Auditing refers to a process of evaluating the fairness and correctness of financial accounts by the…

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…