Under what circumstances are external auditors likely to beinvolved in operational auditing? Give one example of operational auditing by a CPA firm

Q: What are examples of some of the independence requirements by the AICPA concerning external…

A: Independence ensures that auditors don't have any financial interest in the firms in which they are…

Q: Auditors’ understanding of the internal control in an entity provides information fora. Determining…

A:

Q: What is in the nature of work of an auditor that puts his or her safety at risk? Answer in your own…

A: Auditor is the person who checks the accounts and the financial statements which have to be verified…

Q: The Responsibilities principle requires that auditors be responsiblefor having appropriate…

A: Definition: Independent auditor: Independent auditor or external auditor is the accountant who is…

Q: What are the auditor’s responsibilities to communicate information to the audit committee under…

A:

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: Practice question:

A: ANSWER No, I disagree with the statement that ''Having competent technical talents and capabilities…

Q: Which one below is not an example of auditors'substantive testing? Select one: a. Controls testing.…

A: Substantive testing is such an audit procedure that is used for examination of financial statement…

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: Why is the Auditing Standards Board’s set of management assertions important to auditors? Dothese…

A:

Q: Is it necessary for an auditor to get a knowledge of a client's internal controls if the auditor…

A: An auditor is required to express an opinion on the true and fair view of the state of affairs and…

Q: What steps has the external auditing profession taken to minimize potential bias toward independent…

A: The auditors are appointed to provide their opinion on the financial reports examined. The auditor…

Q: Identify which of the major fundamental principles (responsibilities, performance, or reporting) is…

A:

Q: Give some instances of the dangers to the independence of an external auditor in your explanation.

A: This question deals with the dangers to the independence of an external auditor in your explanation:…

Q: Considering the competence of a firm should include consideration of whether the audit firm…

A: The auditor should have necessary competence to carry out the audit work of the client. If he has no…

Q: Explain why managers who outsource their IT function may or may not also outsource responsibility…

A:

Q: What form of internal control documentation will an auditor likely use when they are not personally…

A: An Auditor is the person qualified as a Chartered Accountant who takes care of Audit.

Q: Moral legitimacy refers to the generalized perception or assumption of observers that the actions of…

A: Explain how moral legitimacy might be applied to assess the actions of audit firms.

Q: 1. Why is audit firm culture important in ensuring that individual audit engagement partners resolve…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: One of the uses of audit working papers is to prove the independence of the auditor.  TRUE OR…

A: Audit should prepare audit documentation which provides that audit was performed in accordance with…

Q: In the integrated audit of an issuer, which of the following would not be considered an entity-level…

A: Internal control is the managements’ effective and efficient controls for achieving goals and…

Q: A document which the auditor receives from client ,but which was prepared by someone outside the…

A: Auditing is the process of examination or verification of books of accounts of the business in order…

Q: Why do you think that inherent and control risk is responsible for the audited company(client) and…

A: Audit means checking, verifying and examining all the financial records and information to ensure…

Q: Distinguish the auditor’s responsibility for testing controlsin an integrated audit of a public…

A: Test of controls is a procedure of audit that is used to test the effectiveness of the control of an…

Q: s it necessary for an auditor to understand the client's internal control if the auditor does not…

A: Answer: Concept: Audit is independent check of any entity to derive the conclusion which are true…

Q: Auditors are always required to gain a minimum understanding of internal controls, whether or not…

A: Auditing means the independent checking of company operation by outsider. Auditor is  qualified and…

Q: What must an auditor understand with respect to internal auditors?

A:

Q: what are business risks associated with an entity that an auditor should consider when performing an…

A: answer   Business risks associated with an entity that an auditor should consider when performing an…

Q: what are the auditor Rules for Independence regarding the services they can offer the same client?

A: Auditing is the process of evaluation of companies' financial statements and reports by the auditor…

Q: under what circumstances, if any, can an audit firm rely on the audit procedures performed by…

A: Yes, an Audit Firm may rely on the Audit Procedures performed by another Audit firm subject to…

Q: Which of the following is not a way by which the Sarbanes-Oxley Act attempts to ensure auditor…

A:

Q: y be more successful in its monitoring and assessment of internal controls by internal auditors.

A: Internal controls are policies  processes used by management to guarantee that  financial statements…

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 correct.Which of the following is not a way by which the Sarbanes–Oxley Act attempts to…

A: The explanation for the given options:

Q: How has the Sarbanes–Oxley Act attempted to ensure that external auditors will be completely…

A:

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: As an auditor of ABC Co, apply auditing principles and standards examine the expectation gaps in the…

A: Expectation gap in Auditing means if the company and its management has some expectation in the…

Q: What are the requirements from Sarbanes-Oxley regarding using the same auditor

A: Audit is an independent examination of financial information of any entity, whether profit…

Q: What is the objective of external auditing? Describe the role ofexternal auditing in meeting demands…

A: Introduction: An external audit is a review undertaken by an outside accountant. This form of audit…

Q: Critically evaluate whether the manner in whic

A: An audit is the examination of an organization's financial statements - as provided in its annual…

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…