ISA 315 Identifying and assessing the risks of material misstatement requires the auditor to carry out risk assessment procedures to identify the possibility of material misstatement in the financial statements. Required: 1. List three activities that the auditor can perform to help gain an understanding of the entity being audited and so identify the possibility of material misstatements. 2. State audit procedures that auditor may follow to assess fraud

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Q: f the auditor believes that a misstatement is or might be intentional and the effect on the…

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Q: 7-Who among the following are primarily responsible for prevention and detection of frauds? a.…

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Q: Section 401) How does this section relate to the Enron fraud? (Section 404) How do the management…

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A: ISA 315 -IDENTIFYING AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING…

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Q: Select the correct answer(s) for the following multiple choice questions. Note that there may be…

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Q: 10. The GAO standards of reporting for governmental financial audits incorporate the AICPA standards…

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Q: 32. Which of the following statements best describes the competency requirement for an auditor…

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Q: Write a memo to Mr Mika discussing the audit objectives and an auditor's responsibilities in…

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Q: 3. Which of the following is NOT part of the control activities applicable to Financial Statement…

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Q: 10. S1: The major beneficiary of an internal audit is the management.  S2: An auditor should design…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Under which clause of ISA, the auditor's responsibilities relating to prevention and detection of…

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Q: (i) Differentiate between the audit strategy and the audit plan.

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Q: d. Internal auditing is also known as operational auditing. e. BIR auditing is also known as…

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Q: perform in auditing

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Q: b. Management is secondarily responsible for prevention and detection of fraud

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Q: Question 18 According to the PCAOB, during the audit of internal controls for an issuer (public…

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