Is it allowed to send copies of the auditor's earlier paperwork to the client? If yes, are there any special criteria that auditors should review prior to delivering the client's documentation? At least three things should be mentioned.

Q: As the audit associate, you were asked by the senior associate to check the completeness of…

A: SOLUTION A voucher is a document recording a liability or allowing for a payment of a debt or debt…

Q: List the three reasons why an experienced member of the audit firm must thoroughly review audit…

A: Audit documentation: It is the record and documentation of the performance of auditors and it is…

Q: What are the internal auditors’ responsibilities (name at least two)?  Why did the internal auditors…

A: Given: To explain the internal auditor's responsibilities and not adhere to the responsibilities as,

Q: What should an auditor do if they discover they have forgotten to perform a substantive procedure?

A: Audit Procedure: A specific procedure undertaken by an auditor to procedure evidence in a particular…

Q: If an IT auditor discover irregular & illegal acts during the course of his audit, what should the…

A: Answer: It is the responsibility of the auditor to report independence opinion on any audit…

Q: Why are written representation and attorney letters obtained near the end of the evidence gathering…

A: Written representations include information about entity's financial statements, about internal…

Q: document

A: audit documentation is generally made in written.

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

A:

Q: Explain why it is important for audit documentation to include eachof the following: identification…

A: Audit Report is the verification of financial statements of a company by an outsider/insider to…

Q: Assume that an auditor makes an agreement with a client that theaudit fee will be contingent upon…

A: Definition: Auditor: An auditor is an accounting professional hired by a company to review the…

Q: When initiating communications with predecessor auditors, prospective auditors should expecta. To…

A: A predecessor auditor is an auditor who conducted the audit for a client in prior periods, but who…

Q: The purpose of the requirement in having communication between the predecessor and successor…

A: Option 1 : AS per rules of Professional Conduct, Auditor is precluded from disclosing confidential…

Q: Directions: Please select the appropriate answer on the statement below; B - If the statement is…

A: Audit procedure is different types of steps that are followed by an auditor while conducting the…

Q: What is the relationship between the audit procedure and audit evidence used in the auditor's work…

A: Audit working papers contains the findings of the auditor which have been obtained in the course of…

Q: Why is it necessary to pre-number reports received? In what way might an auditor examine a claim…

A: For natural language processing, the use of Dialogue Systems :

Q: Explain the purpose of an engagement letter which is signed immediately after the appointment with…

A: Engagement letter is an agreement letter drafted between the auditor and the organisation which…

Q: Can audit managers on the audit engagement team, who are also attorneys admitted to the statebar,…

A: Given: The product liability defects assist the defense of lawsuit against an audit client by the…

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: What is the purpose of dual dating the auditor’s report?

A:

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: The most reliable types of audit evidence the auditor can obtain are: a. Physical examination by…

A: Audit evidence: It can be defined as the information collected or obtained by an auditor during the…

Q: What is an auditor’s primary method to corroborate information on litigation, claims,…

A:

Q: ist the four types of information the auditor should obtain or review as a part of gaining…

A: After the audit engagement auditor starts planning its audit practice.

Q: "Auditor should remain alert to the possibility that other audit procedures applied may bring…

A: Substantive tests includes the activities performed by auditor to detect material misstatements at…

Q: When testing the existence assertion, the auditor will take the vouching direction when examining…

A: VOUCHING MEANS INSPECTION OF DOCUMENTARY EVIDENCE SUPPORTING & SUBSTANTIATING TRANSACTIONS . THE…

Q: Required: For each of the above events, state the appropriate action (if any) that the auditor would…

A:

Q: Assume that an auditor makes an agreement with a client that the audit fee will be contingent upon…

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

Q: Prior to the acceptance of an audit engagement with a client who has terminated the services of the…

A: The question is related to AU Section 315 Communications between predecessor and Successor Auditors.…

Q: Explain auditors’ responsibilities with respect to a client’s failure to comply with laws or…

A: Auditor’s  report: Auditor’s report can be defined as a formal document prepared by an auditor in…

Q: Is it OK to give the client copies of the auditor's previous documents? If so, what should the…

A: Independent review of accounting and financial records is referred to as auditing. The purpose of…

Q: In addition to obtaining responses to attorney letters, what other procedures can be used to gather…

A: Audit Evidence: The pieces of evidence provided by the audit team to prove their opinion with…

Q: llows an auditor to perform w

A: As per the AICPA code of conduct (PCAOB ), Which are guidelines issued for CPA ( Auditor) To follow…

Q: An auditor’s client consent in writing is required before an auditor can disclose any information…

A: Auditor knows  about sophisticated information regarding client's business, and auditor is not…

Q: Identify the contents of Form 10-K, Form 10-Q, and Form 8-K. How are auditors involved with the…

A: Securities and Exchange Commission (SEC): SEC is an independent organization of the federal…

Q: Why are written representation and attorney letters obtained near the end of the evidencegathering…

A: Written representations include information about entity's financial statements, about internal…

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: A CPA should disclose confidential client information without the consent of the client to: Another…

A: Compliance with standards The rule provides that a member cannot disclose any confidential client…

Q: As the audit associate, you were asked by the senior associate to check the completeness of…

A: As an auditor we have found that one of the supplier has not yet given their confirmation and since…

Q: s a member of an audit team required to disclose to a client that a commission will be received at…

A: Commission refers to a form of compensation which includes the adequate base salary of an employee…

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…

Q: If an auditor believes that an understanding with an audit client has not been established he or she…

A: As per the ISA 220, Agreeing the terms of the audit engagement, One of the basic objectives of the…