The audit report should be dated: a. Earlier than the date the audit evidence was checked b. Not earlier than the date on which the accounts were approved by management c. Earlier than the date of the completion of audit work d. Earlier than the date the audit examination has started

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: Identify the primary audit objectives that auditors hope to accomplish by confirming a client's…

A: Accounts receivable (AR) is the money owed to a company for products or services that have been…

Q: Discuss the auditor’s responsibility for detecting subsequent events (a) prior to the completion of…

A: Auditor is the independent professional personnel appointed by the business organizations to perform…

Q: What is the role of audit planning in an audit? In an audit, how do you convey your understanding of…

A: Auditing is defined as the examination of a company's books of accounts by an auditor to determine…

Q: Which of the following normally occurs earliest in the audit examination?a. Discovery of an omitted…

A: Audit examination is the examining of all the audit workings and review them in order to ensure…

Q: The auditing standards regarding subsequently discovered facts refers to knowledge obtained aftera.…

A: Answer:   Option B

Q: An audit report was dual-dated for a subsequent event disclosed in the financial statements, which…

A: correct option is (2) extended to subsequent events occurring through the date of issuance of…

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: Which refers to the record of audit procedures performed, relevant audit evidence obtained, and…

A: Audit documentation can be termed as keeping various records and procedures which was performed by…

Q: If subsequent to the issuance of the audited financial statements, the auditor becomes aware of…

A: Audited financial statements are those that are properly examined by the professional called…

Q: (a) What are the key audit matters? How do these affect the format of the audit report?

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

Q: dentify the primary audit objectives that auditors hope to accomplish by confirming a client's…

A: Accounts receivable (AR) is the amount owing to a business for goods or services delivered or used…

Q: Name the record in which the auditor records the audit procedures performed, the relevant audit…

A: Auditing means checking the accuracy and reliability of financial statements. In the process of…

Q: The evaluation phase of the audit is referred to as ..................................? a. Entrance…

A: Audit refers to the inspection of financial records and statement of an organization. It is…

Q: When auditing the accounts payable balance on the balance sheet, an auditor’s procedures most likely…

A: Auditing is the inspection of the financial records of the company or organisations with no bias and…

Q: 11 - Which of the following statements is not among the characteristics of the audit function ? A)…

A: Introduction Auditing is a process which have been done by an external independent expert after the…

Q: Which of the following is correct about assembling the audit documentation in an audit file? O a.…

A: Audit:- An audit is considered as the physical examination of books of account of company by an…

Q: Corrective action has been taken by an auditee immediately after the identification of a reportable…

A: Auditors may come across various errors which they may refer to the management.  Management also…

Q: QUESTION 2 The purpose and objective of an auditor is to form opinions on whether the operations of…

A: The objective of audit is to give opinions on financial statements deals with whether the financial…

Q: Briefly explain four distinct specific audit procedures excluding discussion that should be…

A: Answer

Q: During an audit engagement, pertinent data are compiled and included in the auditfiles. The audit…

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

Q: Why do auditors typically test internal controls at an interim audit date? O more effective to test…

A: Interim testing is the testing performed by a company typically at some point close to year-end. A…

Q: In determining whether transactions were really exist, the direction of the audit testing should be…

A: In determining whether transactions were really exist, the direction of the audit testing should be…

Q: Auditors have a responsibility related to management’s disclosure of new informationrelated to…

A: Auditor: The person who is considered responsible for assessing the credibility of the financial…

Q: The preparation of audit documentation is an integral part of an auditor’s examination of financial…

A: Audit Documentation:   Audit documentation is a written record that discloses the conclusions of…

Q: For all audits of financial statements made in accordance with auditing standards,the use of…

A: Analytical procedure helps auditor in planning the nature, timing and extent of audit. It helps in…

Q: matters are communicated to those charged with governance at the end of an audit

A: Third option is wrong because the expected modifications to the audit report are based on the…

Q: When auditing the accounts receivable account on the balance sheet, an auditor’s procedures most…

A: Accounts receivable: It can be defined as the sum of money that is owed by the customers to the…

Q: The objectives of the audit includes the following, except: a. To enable an auditor to express an…

A: Audit is the procrss of checking and examining books of accounts and financial information of…

Q: Why deos the auditor obtain an understanding of the clients business, enviroment and related risk of…

A: Obtaining an understanding of the client’s business is key to an effective and efficient audit.…

Q: audit objectives is usually more important

A: Audit of existence is the process of ensuring whether the accounts payable balance in the ledger…

Q: Which of the following procedures would an auditor most likely perform to obtain evidence about the…

A: Subsequent events: Those events which occur between the date of financial statements and the audit…

Q: ming procedures to discover subsequent events usually ends:

A: The right answer is option c. On the date, the financial report is issued to shareholders.

Q: The audit reporting requirements for comparatives discuss the following I. Prior period financial…

A: The audit reporting requirements for comparatives discuss the following: 1. If the prior financial…

Q: What are auditors' obligations for later found facts uncovered (a) before to the audit report's…

A: Facts Discovered Subsequently: These are facts that become accessible or become known to the auditor…

Q: When asked to perform an audit to express an opinion on one or more specified elements,accounts, or…

A: Auditing procedures are used to determine the fairness and authenticity of the financial records…

Q: An audit engagement letter should normally include which of the following matters of agreement…

A: Engagement Letter:   Engagement letter is a type of a contract that is prepared when a new client…

Q: emphasis of the auditor in the following audit procedures?

A: Option 1 is wrong because by confirming the total amount of accounts payable subsidiary record with…

Q: he auditor has a responsibility to plan and perform the audit so as to obtain a _________ about…

A: An audit is conducted with the objective that the financial statement that they audit provide a true…

Q: audit program is completed during the planning phase of the audit

A: Statement 1 is false because not only in the first-time audits, but also in every audits, the audit…

Q: The following are procedures to obtain audit evidence except: a. Physical examination. b.…

A: Audit is the process of checking and examining books of accounts and financial information in order…

Q: means the application of audit procedures to less than 100% of the items within an account balance…

A: Correct is Option C - Audit Sampling Audit sampling Means application of Audit procedures to less…

Q: Analytical procedures are required as a part of the:     Internal control assessment.     Detailed…

A: Analytical methods are a form of evidence that may be utilized in an audit. Analytical processes…

Q: The audit report dates are: a. Closing date of client's book b. The date on which the letter of…

A: Audit report is the auditor’s opinion expressed by an internal or external auditor upon examining…

Q: When auditing the accounts receivable account on the balance sheet, an auditor’s procedures most…

A: Accounts receivables include those consumers or firms which have not paid the amount to the…

Q: Although the quantity, type, and content of audit documentation will vary with thecircumstances,…

A: Audit can be referred to as the procedure by which an auditor assesses the reliability of the…

Q: In a financial statement audit, the auditor obtains a reasonable level of assurance about whether…

A: The auditor's duty is to provide a reasonable assurance of whether financial statements are free…

Q: What should occur if the audit report has already been issued and the auditor becomes aware of a…

A: According to IAS 10, Subsequent events are the events that occur after the financial statement dates…

Q: 1. Which of the following is a principle underlying an audit conducted in accordance with generally…

A: Generally Accepted Auditing Standards provide a measure of a good quality audit with the aim of…