The auditor's dependents (whether related or not) are part of the auditor's

Q: why would an auditor ensure that all revenue-related disclosures are made in the financial…

A: Explanation of disclosures Disclosures refer to that piece of information that includes figures,…

Q: e internal auditors’ responsibiliti

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

Q: Explain the auditor legal liability, this includes what law that procure such liability?

A: An auditor is expected to complete their tasks in good faith and with integrity and should operate…

Q: As an auditor, how would you audit the following Internal Control Revenue

A: Answer: Auditor is the person who audits the financial statement to present independent opinion. The…

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: What are the major differences in the scope of the audit responsibilities for CPAs, GAO auditors,…

A: American Institute of Certified Public Accountants (AICPA): AICPA is the organization which supports…

Q: Explain what accounting documents you must supply to the auditors. What are the statutory audit…

A: The auditor is responsible for the identification of the fraud and errors present in the financial…

Q: Which of the following third parties is known by name to auditors as the audit isconducted?a.…

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

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: What rules must auditors follow for governmental audits?

A:

Q: In what ways does the practice of internal auditing differ from the practice of public accounting?…

A: Internal audit is assessing the risk & fraud and compliance of Accounting standard, Law…

Q: How does auditors’ liability under statutory law arise?

A:

Q: What is the auditors’ reporting responsibility for (a) other information accompanying the…

A: Auditors' main responsibility is to express an opinion on the financial statements of an entity that…

Q: Specify the characteristics of auditors’liability under common law and cite specificcase precedents

A: Auditors' liability under common law is divided among two categories: Common law liability to…

Q: What is Legal Liability of Auditors?

A: Concerns about the legal obligation of auditors continue to grow daily. Auditors are very important…

Q: what are the key practical differences between  common-law liability and statutory liability for…

A: Judges' legal decisions in determining cases give emergence to common law liability. These decisions…

Q: Name some other types of auditors in addition to external, internal, and governmental auditors.

A: A forensic auditor is a type of auditor other than the external, internal and governmental auditors.

Q: What are the obligations of the auditor in the case of a 'going concern'?

A: This question explains about the obligations of the auditor in the case of a 'going concern'

Q: Auditors' opinions and reports serve what function

A: Definition \auditing: An auditor undertakes a comprehensive review of all pertinent data,…

Q: Under common law, when performing an audit, a CPA:

A: CPA stands for Certified Public Accountant.       A CPA is a trusted financial advisor who helps…

Q: Understand recent developments that affect auditors’ liability to clients and third parties.

A: An auditor’s legal liability or responsibility is to offer customer’s an inexpensive assurance that…

Q: How does the prudent person concept affect the liability of the auditor?

A: Prudence is one of the accounting principle, which says that all anticipated losses should be…

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: What are some specific transactions that an auditor would expect to be approved by the board of…

A:

Q: An audit committee is: * O Composed of internal auditors

A: An audit committee also refers as review council and it is one of the major working panels of an…

Q: What two conditions must be present for the auditor to issue anunqualified opinion on internal…

A: Audit Opinion: It is a certification of the auditor attached along with the financial statements. It…

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: What is the importance for auditors to exercise a reasonable care and skill in the performance of…

A: Operational efficiency and effectiveness can be improved through performance audits and operational…

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: What defenses are available to auditors against suits brought by clients under common law? Against…

A: Under common law, clients can bring suits against the auditors and there are various defenses…

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: An auditor shall prepare audit documentation on a basis.

A: An audit is a process of checking and verifying the books of account and financial information of…

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: Distinguish between the legal concepts of actually foreseen third-party users and reasonably…

A:

Q: What is the auditors responsibility regarding the noncompliance with laws by a client?

A: Audit:   It is an inspection of the financial statements of the company. It is mandatory for every…

Q: How do the major provisionsof the Sarbanes–Oxley Actaffect a public company’s auditprocedures?

A: After a prolonged period of corporate scandals (e.g., Enron and Worldcom) in the United States from…

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: To whom is the auditors’ report addressed?

A: The financial statement of a company is examined by an independent auditor with regard to their…