In many engagements, the auditor’s reporting responsibilities are governed by the statute under which the auditor is appointed. Required: Identify and discuss two (2) groups

Q: The auditor’s report provides the analyst with an independent and professional opinion about the…

A: Auditors' report: Auditors' report is a consolidated report which is done by the auditor to report…

Q: 7. The following items are the auditor's primary consideration with respect to the components of…

A: solution concept                 Auditor shall understand the internal control and its component as…

Q: When a client has a going concern issue, .AU-C 570 The Auditor’s Consideration of an Entity’s…

A: A Type II subsequent event provides evidence of conditions that arose after the date of the…

Q: 9. The primary responsible for properly applying GAAP lies with a. External auditor b. Management c.…

A: GAAP stands for Generally Accepted Accounting Principles. These are the principals which a company…

Q: e internal auditors’ responsibiliti

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

Q: Which type of auditor audits the financial information prepared by various federal government…

A: Note: As per the policy, we are supposed to solve one question at a time. Kindly repost the…

Q: Explain how the three types of modification to an auditor’s opinion on financial statements…

A: The three Type of Modification to the Auditor’s Opinion as per ISA 705 Qualified Opinion: A…

Q: What is the “special function” that auditors perform? Whom does the public accounting profession…

A: Auditing:   It is an independent examination of the financial information of an organization to test…

Q: What is a law, such as the Sarbanes–Oxley Act of 2002, under which auditors have obligations?

A: The Sarbanes–Oxley Act of 2002 is a federal Law that established Sweeping Auditing and finance…

Q: Discuss a portion of a law, such as the Sarbanes-Oxley Act of 2002, under which auditors have…

A:

Q: Compare and contrast traditional auditors’ legal responsibilitiesto clients and third-party users…

A: An Audit is the process of collection of information & data, assess them & identifies the…

Q: List and explain three types of external auditors and three types of internal auditors.

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

Q: Which of the following is the most important responsibility of the external auditor? a. To ensure…

A: An external auditor is a person outside the organization, who performs the audit, review of…

Q: Which of the following is NOT a regulatory authority or a professional body for auditors? a. IAS b.…

A: IAASB: International auditing and assurance standards Board (IAASB) is the organisation whose…

Q: What are some sanctions the SEC can bring against auditors who have violated statutory law?

A:

Q: The Sarbanes-Oxley Act (SOX) mandates which of the following? a. Increased regulations related to…

A: Sarbanes-Oxley Act: This is the act passed by the government for safeguarding investors from…

Q: How have the Sarbanes–Oxley Act's requirements impacted a public company's ability to choose its…

A: This question explains about the Sarbanes–Oxley Act's requirements impacted a public company's…

Q: {Auditing} 48. Identify the relevance of “Professional Competence and Due Care” with one of the…

A: Professional Competence and Due Care to guarantee that a company or employer obtains adequate…

Q: 44. All are found in the By laws, except: Group of answer choices Rights and obligations of a…

A: Bylaws are the rules and regulations that a company has to follow to run its business. It is a…

Q: . Identify the three types of modification to an auditor’s opinion on financial statements according…

A: AUDITORS REPORT AUDITORS REPORT IS THE DISCLAIMER ISSUED BY INTERNAL AUDITOR OR AN EXTERNAL AUDITOR…

Q: 47-Which of the following are not the rights of the auditors? a) The right to all information and…

A: An audit is an examination of the financial statement by an auditor to check whether the financial…

Q: 4. Two good governance practices for ensuring government accountability to the people are A…

A: A general report refers to the presentation of a complete picture of the financial statements of the…

Q: Which of the following are rights of auditors?      I.        To access all accounting books and…

A: The Companies Act confers extensive powers on the auditor. Since, he is the agent of the…

Q: The Audit Report contains the auditor's opinion on the entity’s true and fair view presented in…

A: An auditor is a person who is responsible for conducting audits for the company. The purpose of the…

Q: Which of the following statements regarding the requirement to follow U.S. GAAP in financial…

A: Generally accepted accounting principles (GAAP) are controlled by the Financial Accounting Standards…

Q: What are the concepts of legal responsibility applicable to the accountant in his audit functions…

A: Legal Responsibility of Auditor: Every day, more and more people are becoming concerned about the…

Q: In audits of state and local government units which of the following sections are not required in…

A: Audit report is the final conclusion of the audit which is based on the audit evidence obtained…

Q: 18. An incoming auditor plans to consult the predecessor auditor and review certain portion of the…

A: Audit work documents are documents that they record during audit evidence obtained during audits of…

Q: What is the auditor's role in reporting violations of the Corporations Act under the Corporations…

A: Act on Corporations: One of the characteristics of Australia's commonwealth is the Corporations Act…

Q: ow is the auditor's responsibility for expressing the opinion on financial statements of a public…

A: Auditor's Report: It is the report prepared by the auditors. It expresses the auditors' assessment…

Q: Describe the action that an auditor should take if an attorneyrefuses to provide information that is…

A: In general, Auditor is a person or firm who is appointed by the company to execute or to…

Q: all of the following are the responsibilities of the auditor except : Select one: a. adopting sound…

A: Auditor: An auditor is a person or a group of people who is responsible for conducting an audit of…

Q: How would an auditor communicate  known there are violations of the law and the auditor's…

A: Audit is the process in which auditor independently examined the financial information of any type…

Q: 12.Who is responsible for reviewing and monitoring managements’ responsiveness to the Internal Audit…

A: Ans. The companies which are required to constitute an audit committee has many responsibilities…

Q: As per APES 110, an auditor may Select one: perform advisory services for any

A: The professional accountants should adherence to the following fundamental principles of ethics:…

Q: 9. Describe the purpose of a proposed auditor communicating with the existing or predecessor…

A: Answer: It is mentioned in the provisions of law that whenever any auditor has been appointed,…

Q: rights of the auditor

A: The statement a is correct because the auditor has the right to get all the information and…

Q: Do auditors have an obligation to report on (a) audited financial statements and (b) any additional…

A: This question tells abut audited financial statements and additional information required by law

Q: Do the auditors have to report on (a) the audited financial statements and (b) any other information…

A: This question explains about the audited financial statements and any other information that is…

Q: Which one of the following is NOT a duty of the auditor? Duty to report on any violation of law Duty…

A: The duties of an Audi have been laid down by the companies Act , 2013, providedd in section 143.

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…

Q: to appointment, reappointment and removal of external auditor? Shareholders Management Audit…

A: The primary purpose of a company's audit committee is to provide information on the financial…

Q: Which of the following is NOT an auditor's responsibility? Obligation to report any breach of the…

A: Auditor: An auditor is a person or a group of people who is responsible for conducting an audit of…