Provide five factors (5) that an auditor must consider when setting a preliminary judgment.
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Provide five factors (5) that an auditor must consider when setting a preliminary judgment.
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- List TEN matters an auditor must consider in the development of an audit plan.List five things that are required of an auditor by SSARS for acompilation.Besides the search for contingent liabilities and the review for subsequent events, the auditor has four important final evidence accumulation responsibilities, all of which are required by current professional auditing standards. Discuss each of these four responsibilities.
- List the seven parts of a standard unqualified audit report and explain the meaning of each part. How do the parts compare with those found in a qualified report?Explain FIVE differences between a financial statement and an internal audit engagementBriefly describe the five phases in the audit opinion formulation process. Include in each description the relationship to the previous and/or subsequent phase.
- Describe the quality of following types of evidence giving two examples of each form of evidence i) Evidence originated by the auditor ii) Evidence created by third parties iii)Evidence created by the management of the client b) Describe the general considerations which auditors must bear in mind when evaluating audit evidence6-Which section of the audit report contains the matters communicated to and addressed by the auditor based on his professional judgments during the course of audit? a. Opinion section b. Key audit matters c. Basis of opinion d. Going concernWhat are five criteria there for assessing the reliability of audit evidence?
- Understand the fundamental principle of reporting and identify the basic contents of the auditors’ report.classify information (1-5) according to its source (that is evidence obtained directly by the auditor, evidence obtained from third parties or evidence from the auditee.)Give one example each of when an auditor might render an unmodified opinion and include an emphasis-of-matter paragraph and an other-matter paragraph. What is the value of such paragraphs in the audit report?