The auditor's understanding established with a client should be confirmed through a (an):    Oral communication with the client, Written communication with the client, Written or oral communication with the client, Completely detailed audit plan

Q: Prior to the auditor conducting an audit there are stages which need to be followed. What are these…

A: There are many phases ,which go through many process to complete the work of Audit. After receiving…

Q: of transactions and account balances. Determining the audit strategy occurs during which phase of…

A: Answer : b. Planning stage  In planning stage the audit staff collates the background information…

Q: List and describe the required preengagement activities that auditors undertake before beginning an…

A: Pre-engagement activities: The summary of risk assessment procedure that need to be performed before…

Q: Breaux & Co. CPAs require that all audit documentation indicate the identity of the preparer and…

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

Q: document

A: audit documentation is generally made in written.

Q: The date of the CPA’s opinion on the financial statements of the client should be the date of the:…

A: Certified Public Accountant (CPA): CPA is the accountant who is certified and licensed to examine…

Q: The auditor shall communicate with those charged with governance an overall approach and scope of…

A: Auditor shall communicate to the management regarding its scope of audit.

Q: When expertise in a field other than accounting or auditing is necessary to obtain sufficient…

A: Auditing is the verification of financial statements by the auditor who then provides judgmental…

Q: Identify the type of evidence the auditor would gather in assessing the integrity of management?…

A: Auditor is the person who is responsible for auditing and verifying books of accounts and records of…

Q: What knowledge does the auditor need about the client’sbusiness in an audit of historical financial…

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

Q: What should an auditor do prior to accepting an audit engagement?

A:

Q: When gaining an understanding of the client by speaking with the management of the client, the…

A: An auditor is a person who is appointed to check the accuracy of the financial statements prepared…

Q: The auditor shall communicate with those charged with governance an overall approach and scope of…

A: The auditor shall communicate with those charged with governance an overall approach and scope of…

Q: a. Describe how professional skepticism will assist the auditor to perform the audit effectively. b.…

A: Professional skepticism means an attitude that includes a questioning mind, being alert to…

Q: In the auditor's current audit documentation files, what is regarded to be the most significant…

A: Right now, we're working on the following documents: The term "current files" refers to collecting…

Q: The auditor should summarize the overall audit strategy that contains the key decisions about the…

A:

Q: Explain the role that auditing standards have with respect to the auditor exercising reasonable care…

A: Since an auditor needs to issue a reasonable assurance on the accuracy of the client's financial…

Q: Planning phase enables the auditor to obtain all the relevant background information to gain an…

A: The planning phase is the first phase of the audit process. It is the phase in which the objectives…

Q: auditor obtains sufficient understanding of the internal control structure

A: Auditing is done to verify whether the underlying financial statements show true and fair view of…

Q: Describe the quality of following types of evidence giving two examples of each form of evidence…

A: 1.    (i)   The evidence obtained by the auditor is the evidence appearing before the auditor in the…

Q: The auditors' understanding established with a client should be established through a(an):  Select…

A: Auditor is person who verifies the truthfulness of financial statements and its accuracy. Whose…

Q: Discuss the duties and responsibilities of a CPA. Consider why independent auditors' reports are…

A: A Certified Public Accountant (CPA) is a certified accounting practitioner who has the Certified…

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: Auditors are required on every engagement to obtain a representation letter from the client.   a.…

A: a. The letter of representation from the client is regarded as supporting audit evidence. They are…

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

A:

Q: The audit director in charge is available for consulting and he approves the audit engagement before…

A: An audit is assessing vouchers, books of accounts records to see that they are accurately and…

Q: An audit plan containsa. Specifications of audit standards relevant to the financial statements…

A: Answer: b. Specifications of procedures the auditors believe appropriate for the financial…

Q: In making a decision whether to accept or reject an engagement, an auditor should consider…

A: Before getting engaged in audit, the auditor must ensure that certain vital parameters are fulfilled…

Q: Outline the sources of audit evidence the auditor can use as part of risk…

A: In an audit, the auditor should gather sufficient and appropriate audit evidence in order to…

Q: Analytical procedures are generally used to produce evidence froma. Confirmations mailed directly to…

A:

Q: Which of the following aspects are required to be included in the basis for opinion section in the…

A: Auditor Opinion The foremost responsibility of an Auditor to his client to express the opinion…

Q: Under what circumstances are external auditors likely to be involved in operational auditing? Can…

A: Introduction:- An operational audit is systematic review of effectiveness, efficiency of operation.…

Q: Answer the below: What do you understand by attestation services? Discuss the responsibility and…

A: Attestation Services:-These are services when a certified Public Accountant (CPA) expresses his…

Q: Choose the preliminary engagement activity of an auditor. O a. Establishing an understanding of the…

A: The auditor first understands the overall objectives of the auditor and then defines the terms of…

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 must perform audit procedures in order to obtain sufficient appropriate audit evidence…

A: An Auditor must perform audit procedures in order to obtain sufficient appropriate audit evidence…

Q: A CPA firm’s quality control procedures pertaining to the acceptance of a prospective audit client…

A: CPA is the Certified public accountant which is generally appointed in order to perform audit…

Q: In making a decision whether to accept or reject an engagement, an auditor should consider…

A: An auditor should accept the audit engagement after checking certain preconditions and evaluation of…

Q: Discuss the responsibility and functions of CPA. Then, Identify why independent Auditors' Reports…

A: Certified Public Accountant (CPA) is a qualified accounting professional . CPA is responsible for…

Q: Audit documentation is the written record of the basis for the auditor's conclusions that provides…

A: Audit Documentation is the record of all the Audit procedures that are performed, sufficient Audit…

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: What are the basic audit procedures usually used by external auditors?

A: Note -Since you have posted multiple questions, we are providing the solution for the first…

Q: Briefly describe the key requirements included in professional auditing standards regarding the…

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: The client and the auditor usually agree that some schedules, analyses, reconciliations, and…

A: Auditing is reviewing the financial statement of the company and giving an opinion on whether the…