If an auditor believes that an understanding with an audit client has not been established he or she should? State what should an auditor do and explain.

Q: irector of the client. B. An auditor acts as an advocate on behalf o

A: Here in the given MCQ, the option C & D are self interest threats. (whereas other two options…

Q: e internal auditors’ responsibiliti

A: Auditor's internal control Responsibilities is an audit of the effectiveness of internal control…

Q: Discuss various type  of opinion is issued by the auditorr if he or she is unable to determine the…

A: Introduction: Auditing is the process of recognizing, verifying, and continue to study all…

Q: document

A: audit documentation is generally made in written.

Q: What should an auditor do prior to accepting an audit engagement?

A:

Q: Who can sue the auditor? how they can sue the auditor. Explain.

A: An auditor is a person or an entity (if the auditor is a firm), who is authorized and assigned/hired…

Q: Is it necessary for an auditor to get a knowledge of a client's internal controls if the auditor…

A: An auditor is required to express an opinion on the true and fair view of the state of affairs and…

Q: a. Describe how professional skepticism will assist the auditor to perform the audit effectively. b.…

A: Professional skepticism means an attitude that includes a questioning mind, being alert to…

Q: Which of the following is not required by generally accepted auditing standards?a. Written…

A: Generally accepted auditing standards (GAAS): These are defined as the set of general principles and…

Q: When the client is not permit the communication between the predecessor auditor and the successor…

A: Auditing means the independent checking of company operation by outsider.

Q: t an audito

A: The temptation to interpret data in a way that supports assumptions might seduce an audit and derail…

Q: Distinguish between independence in fact and independence in appearance. Can auditors be independent…

A: Independence in fact means when the auditor is actually independent and not working as the puppet of…

Q: A CPA wishes to use representation letter as a substitute for performing other audit procedures.…

A: Following is the answer to the given question

Q: Why might an auditor issue a disclaimer of opinion after an audit? A. All of these may cause an…

A: Disclaimer of opinion: The disclaimer of opinion is the opinion given by the auditor on the…

Q: The auditor’s __________ safeguard the auditor’s ability to form an audit opinion without being…

A: Audit is the review and examination of books of account and financial information of the business in…

Q: It is not necessary for the confidentiality provisions of relevant ethical requirements that apply…

A: Auditor is the professional who examines the financial statements and reports of the entity and give…

Q: 1. Why is audit firm culture important in ensuring that individual audit engagement partners resolve…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Why might an auditor decide to disclaim an opinion?

A: Audit refers to the process of reviewing the controls and processes that can be used further by the…

Q: What factors should an auditor consider prior to accepting anengagement? Explain.

A: Introduction: A financial audit is a purposive inspection and assessment of the financial statements…

Q: One of the uses of audit working papers is to prove the independence of the auditor.  TRUE OR…

A: Audit should prepare audit documentation which provides that audit was performed in accordance with…

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: s it necessary for an auditor to understand the client's internal control if the auditor does not…

A: Answer: Concept: Audit is independent check of any entity to derive the conclusion which are true…

Q: Which of the following is not related to ethical requirements of auditors?a. Due care.b.…

A: As per the ethical requirement of an auditor it is imperative that the auditor's exercises due care,…

Q: What must an auditor understand with respect to internal auditors?

A:

Q: Do you think that the provision of nonaudit services for a client with a failed audit is evidence of…

A: Negligence in auditing means the auditor doesn't follow any standard related to auditing and…

Q: Why should receiving reports be prenumbered? What assertion would an auditor test using thereceiving…

A:

Q: From a conceptual standpoint, how do the requirements of Sarbanes–Oxley related to nonaudit services…

A: Sarbanes-Oxley Act: Sarbanes-Oxley Act was formed after the major accounting scandals to provide…

Q: An expert under employ by the client cannot be used for purposes of the auditor’s work because doing…

A: An audit planning refers to the strategy and the detailed approach related to the nature, timing,…

Q: In audit reporting, what does an unqualified opinion mean?

A: Answer are as follows

Q: What is the importance for auditors to exercise a reasonable care and skill in the performance of…

A: Operational efficiency and effectiveness can be improved through performance audits and operational…

Q: re internal controls required even if an auditor doesn't plan to rely on them in his audit? Explain.

A: Auditor: He is a person appointed by the government who investigates the finances of a company. In…

Q: How will you explain the different types of audit opinion (e.g., Unqualified, Qualified, Adverse,…

A: Audit opinion refers to the opinion given by the auditor of the entity on examination of the…

Q: What is meant by the evaluation of a client's ability to continue as a going concern? What are some…

A: Going concern concept states that the financial statements of an entity should be prepared on the…

Q: Describe the audit opinion that should be given and explain why. a)When the client is not a going…

A: Going concern assumption is a basic assumption used for the preparation of financial statements.…

Q: What type of situation would require an auditor to give an unmodified opinion without a standard…

A: If the auditor concludes that all the below conditions are met and the accounting changes is…

Q: Define the obligations of auditors in the event that a client fails to comply with applicable laws…

A: Report of the auditor: An auditor's report is a formal document created by an auditor. The auditor…

Q: What are the requirements from Sarbanes-Oxley regarding using the same auditor

A: Audit is an independent examination of financial information of any entity, whether profit…

Q: Under what circumstances are external auditors likely to beinvolved in operational auditing? Give…

A: Operational Audit: An operational audit refers to the review of any aspect of the operating…

Q: What happens when the auditor cannot issue the standard unqualified/unmodified audit report?

A: Auditor can issue standard unqualified/unmodified audit report if he satisfy that financial…

Q: Alljau is an auditor discussing the results of analytical procedures with the management, Amjad…

A: A.  Professional skepticism : Professional skepticism can be explained as the confirmation of…

Q: Determine whether or not a person is really independent. Is it possible for auditors to be really…

A: This question deals with  whether or not a person is really independent:

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: Why should receiving reports be prenumbered in the first place? With the help of the receiving…

A: According to management, this is true. A managerial assertion is a claim made by a company's top…