If the entity is subject to PCAOB requirements regarding communication about control deficiencies(AS 1305), what written representations should auditors obtain from the client with respect tointernal control over financial reporting?

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: The auditing standard that is relevant to ISA 250, consideration of Laws and Regulations in an audit…

A: An auditor is appointed by the shareholders of the company to examine the accounting books including…

Q: Which of the following is usually not part of an internal audit department’s audit charter?a. A…

A: Internal Auditor: An internal auditor is a qualified professional hired by an entity to provide an…

Q: With whom should the auditor communicate whenever he or she determines that fraud may be present,…

A: Auditor is the person examining the financial statements and reports of an entity to check if the…

Q: What must external auditors do to use the work of internal auditors in the audit of an entity’s…

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: subcontracted by the client, specifically in what corresponds to criteria of security, availability,…

A: A  SOC for Service Organizations reports are designed to help service organizations that provide…

Q: Audit standards distinguish auditors’ responsibility for planning procedures for detecting…

A: Auditors have duty to distinguishing material error of budget summaries because of resistance with…

Q: During financial statement audits, the auditors' consideration of their clients internal control is…

A: Financial Statement Audit - It is an examination of financial statement of and provide disclosures…

Q: In addition to the preparation of financial statements, it is also the responsibility of those…

A: It is the responsibility of management  and Those charged with governance the  Financial statements…

Q: Why is the Auditing Standards Board’s set of management assertions important to auditors? Dothese…

A:

Q: If the company is subject to PCAOB obligations for communicating control shortcomings (AS 1305),…

A: SOLUTION-   COMMUNICATION ABOUT CONTROL SHORTCOMING- STANDARD O AUDITING OF 1305 DESCRIBES THE…

Q: The auditor shall communicate with those charged with governance an overall approach and scope of…

A: The auditor shall communicate with those charged with governance an overall approach and scope of…

Q: Tests of controls in a GAAS audit are required fora. Obtaining evidence about the financial…

A: Formal criteria used by auditors when carrying out audits of corporate financial reports are a…

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 primary purpose for obtaining an understanding of a nonpublic audit client’s internal control is…

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

Q: The auditor has considerable responsibility for notifying users as to whether or not the statements…

A: Audit: It is the independent examination of books of accounts of the company with the motive to…

Q: Which of the following is NOT an important consideration for the auditor’s assessment of audit…

A: Audit committee is entrusted with the task of overseeing the reporting and disclosure requirements…

Q: The auditor should assess control risk for each relevant assertion by evaluating the evidence…

A: Relevant assertion: The assertion that shows the possibility of happening a material misstatement is…

Q: Which of the following is not considered to be part of the audit evidence? Auditor information…

A: This question explains about auditor information gleaned from stock exchanges Accounting records…

Q: Which of the following would be inappropriate during the risk assessment procedure of the audit…

A: Through an understanding of the entity and its surroundings, the auditor's role is to detect and…

Q: The SEC requires the MD&A report as well as the audit attestation on management’s assessment of…

A: MD&A report means management discussion and analysis report. The MD&A report forms a part of…

Q: What type of opinion(s) would the audit team issue on the effectiveness of internal control over…

A:

Q: If the auditors encounter a significant scope limitation in evaluating a public company's internal…

A: If the auditors encounter a significant scope limitation in evaluating a public company's internal…

Q: What are the two requirements for the auditor to offer an unqualified opinion on internal financial…

A: Auditor's assessment: The Auditor's certification is added to the financial statements as a…

Q: hich of the following is usually not part of an internal audit department’s audit charter?a. A…

A: Answer:   Option c

Q: Which statement is incorrect regarding the external auditor's consideration of the work of internal…

A: Following is the answer to the given question

Q: Describe situations in which the auditors’ report on internal control over financial reporting would…

A:

Q: What two conditions must be present for the auditor to issue anunqualified opinion on internal…

A: Audit Opinion: It is a certification of the auditor attached along with the financial statements. It…

Q: Which of the following is NOT a requirement in management’s report on the effectiveness of internal…

A:

Q: Does a qualified opinion on management’s assessment of internal controls over the financial…

A:

Q: Which of the following is the primary responsibility of auditor? a. To ensure compliance with laws…

A: An auditor is a person who has been appointed by the board of directors to provide shareholders with…

Q: Which of the following statements are not true about auditors responsibilities? a) The financial…

A: As per ISA 200, The auditor's objectives are to obtain reasonable assurance about whether the…

Q: Tests of controls in a GAAS audit are required fora. Obtaining evidence about the financial…

A: Test of controls is the process of the audit to check the effectiveness of the controls by a client…

Q: If the company is subject to PCAOB obligations involving notification of control shortcomings (AS…

A: Thi the company is subject to PCAOB obligations involving notification of control shortcomings (AS…

Q: When accountants are not independent, which of the following reports can they nevertheless issue?a.…

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

Q: If the auditor identifies any events or conditions that may cast significant doubt on the entity's…

A: Auditor is the person who is responsible for performing audit work in the organisation. Audit means…

Q: Which of the following control objectives in the General Ledger activities under the…

A: Auditing Procedures The purpose of adopting Auditing procedures which are important to the Auditing…

Q: Explain the auditor’s responsibility to consider compliance with laws and regulations. How does this…

A: As per IAS 250, Consideration of laws and regulations in an audit of financial statement. Auditor is…