what are used as evidence and the purpose of each type of document

Q: Discuss with examples, what are substantive audit procedures.

A: Audit procedures are the steps that auditors take to gather all information about the quality of…

Q: a) Discuss the procedures to be followed by you at the time of examining the evidences? b) How can…

A: Audit inquiry: An auditor questions management about specific business transactions or occurrences…

Q: hat does the standard audit report indicate about the audit's scope and the financial statement…

A: Introduction: The financial statements present an entity's financial position, results of…

Q: Explain how materiality affectsaudit reporting decisions.

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

Q: Elements of an auditor's report? The most important component

A: The auditors report is very important for the company as well as the investor . Auditor  report…

Q: what are the different types of audit documents?

A: Audit documentation is the record of procedures performed, evidence obtained, and conclusions…

Q: Describe about the full disclosure principle. Also tell the different ways in which information is…

A: Full disclosure principle: According to the principle of full disclosure, all the events occurred in…

Q: What is the purpose of the Audit Committee?

A: Definition:   Audit committee: Audit committee is a committee formed to oversee the financial…

Q: Audit Evidence means ___________ used by the auditor in arriving at the conclusions on which the…

A: Audit: It can be defined as the examination and inspection of the company’s financial statements.

Q: List and describe the eight general types ofaudit procedures for gathering evidence

A: Definition: Audit: Audit is the process of verification of the compliance of the financial…

Q: What does an audit procedures should be applied to Required Supplementary Information?

A: Definition:   Audit report: An audit report refers to the written report issued by an auditor to…

Q: Discuss how the process of getting IT audit evidence differs fundamentally from the method of…

A: Audit Evidence: Audit evidence is the proof in the form of receipts, invoices andother documents…

Q: Meaning and difference between the permanent audit file and the current audit file?

A: Permanent audit files: Permanent audit files are the records that are used to preserve the documents…

Q: Define emphasis-of-matter and other-matter paragraphs. What type of information do auditorsprovide…

A: Emphasis-of-matter: This is a type of paragraph in an auditor's report on the financial statement.…

Q: What is the primary requirement for audit workpapers besides being written?

A: Audit work-papers are the outcome of the documentation process. These are the evidence and documents…

Q: What does disclosure mean?

A: Meaning of Disclosure - Disclosure is generally making the information and facts available to the…

Q: how key audit matters affect the model of the audit report?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: note taking and documentation play

A: Note taking and documentation is taking record of what has been observed or heard or came to notice…

Q: Whose property are audit documentation (audit workpapers)? In what form must they be?

A: Auditing:                   It is a systematic verification of the books of accounts of an…

Q: What are the characteristics of a confirmation? Distinguish betweena confirmation and external…

A: Auditing: The process of critical examination and evaluation of the accounting information recorded…

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

A: Key audit matters (KAM) refers to matters that are of significance and include complex or difficult…

Q: What is the purpose of an audit strategy memorandum? What information should it contain?

A: Audit Strategy Memorandum: After the calculation of all financial statement risks, identification…

Q: Explain the concept of adequate disclosure.

A: Definition: Adequate Disclosures: In accounting, there is a need for adequate disclosures as these…

Q: Define external, external-internal, and internal documentary evidence.

A:

Q: What should be included for the Auditor's address?

A: Auditor's address should be mentioned in the Auditor's report. The city and state where the auditor…

Q: What is the difference between audit and accounting

A: Audit and accounting are two important things in business. Two of them are equally important for…

Q: Which of the following is a category of audit documentation? Current file Permanent file Audit…

A: Auditing involves an independent examination of an entity's financial information with a view to…

Q: audit evidence

A: Dear Student,  Indian Standard on auditing 500 deals with " Audit Evidence" .   as per this standard…

Q: Which of the following categories of principles is most closely related to gathering audit…

A:

Q: Which method(s) are required for external reporting? For internal reporting?

A:

Q: What major types of items are reported in the retainedearnings statement?

A:

Q: What are Substantive Procedures?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: Elaborate types of Audit reports?

A: The report which is prepared on the results of the auditor's examination is called an audit report.…

Q: A person's personnel file should include what kinds of documents

A: Answer: Person Personnel file is the record that is maintained by employer for the employee that…

Q: ing and extent of the evidence play a critical role. What do these terms refer to in relation to…

A: Paper containers such as packages, envelopes, and bags will be used to gather the majority of the…

Q: what does audit Evidence consist?

A:

Q: Describe what is meant by an audit procedure. Why is it importantfor audit procedures to be…

A: Step1 The audit is the independent examination of the financial statements of the entity and whether…

Q: Which of these processes leads to the preparation of Journal?

A: Answer

Q: Choose the documents which should be included in the audit documentation a. Summaries of significant…

A: Audit documentation is a detailed records of all the planning activities for the purpose of audit,…

Q: g the appropriateness of audit evidence

A: Option B is wrong because the statement is correct regarding the appropriateness of the audit…

Q: 1.What is audit evidence and documentation and give an example

A: Audit evidence - We know that an audit is an independent examination of historical financial…

Q: The documentary evidence of transaction is called a. Account

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Identify and analyze the challenges you may face in reconciling the concept Bill of Lading and…

A: SOLUTION- Document of title:   Document of title refers to an instrument in writing that acts as…

Q: The most commonly used form of audit evidence is: a. Oral representation b. Written documents c.…

A: Audit evidence the supporting or all the information or sources that is used by the auditors in the…