What is an audit committee? What are its duties?

Q: What is operational auditing? How does the AICPA view operational auditing?

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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: Who should be members of the Audit Committee? Is there an association between Audit committee…

A: The monetary Regulation/Peraturan "Utilization controller Firms/Kantor Akuntan Publik (KAP) in…

Q: What do the ASX Corporate Governance Principles say about having an internal audit function?

A: Internal audit is the auditing process of the internal processes of a company such as accounting,…

Q: What are advantages of external public audit?

A: External audit relates to the examination of financial records in connection with the financial…

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 auditing services do governmental auditors provide?

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Q: what are the different types of audit documents?

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

Q: Why is it important for the internal audit department to be functionally reporting to the audit…

A: Internal audit plays a vital role in companies, probably now more so than ever, with their diverse…

Q: What rules must auditors follow for governmental audits?

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Q: What is the primary duty of an auditor?

A: Primary duty of an auditor: Primary duty of an auditor is to express an opinion on the financial…

Q: Do you know the purpose of an Audit Committee? In what ways do they operate and connect with the…

A: This question tells about the purpose of an Audit Committee? In what ways do they operate and…

Q: What are the most important functions of the investment committee?

A: Investment committee is established by the organization for the purpose of making decisions related…

Q: What is the purpose of the Audit Committee?

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

Q: What makes certain industries special in terms of audit? *Please do explain elaborately*

A: Specialized industries are more likely to have its own set of financial reporting standards, or to…

Q: What is the aim of the auditors' view and report

A: Definition  Auditing: Auditing is a systematic procedure in which the auditor reviews financial…

Q: What are the powers of the BIR Commissioner?

A: Powers of BIR commissioner are as follows,  1. He can require additional procedures and documents.…

Q: What is/are the possible collaboration/s among the Audit Committee, accounting external auditors,…

A: An external audit represents an unbiased examination of the financial statement prepared by the…

Q: Define auditing. How is auditing different from accounting?

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: why is an active board of directors audit committee important to an organization?

A: Audit: An audit is an organized and self-regulated inspection of books of accounts. This inspection…

Q: How does the Single Audit Act work?

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

Q: Auditors' opinions and reports serve what function

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

Q: Explain what is meant by the Single Audit Act. What is its purpose?

A: Single Audit Act refers to the auditing of organization's wide financial statement and federal…

Q: How do ‘audits’ work as a corporate governance mechanism

A: Introduction: An audit is an examination or audit by an auditor of various books of accounts,…

Q: What is an audit, and why are audits performed?

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

Q: Discuss the problems associated with initiatives that have been put forward to ensure independence…

A: To ensure the audit committee's independence, it's a number one application for the bulk of its…

Q: What are advantages of internal public audit?

A: Given: The advantages of the internal audit in the public sector.

Q: Briefly describe the essential attributes for an effective Audit Committee.

A: Attributes refers to the qualities or features of something. Attributes can be positive, negative or…

Q: Why do GAGAS require a review for compliance with laws and regulations in conjunction with financial…

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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: What is the purpose of the auditors’ opinion and report?

A: Auditing: Auditing is a systematic process wherein the auditor investigates the financial…

Q: What is the audit committee’s contribution to strategy?

A: An audit committee is a committee which looks after, directs and guides for the financial process,…

Q: When and How internal audits are carried

A: An internal audit is a kind of audit which provides risk management and assesses the effectiveness…

Q: What is the role of commission on aud

A: Fiscal administration is the act of managing incoming and outgoing monetary transactions and budgets…

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 is an Audit Committee? How do they Operate and interact with the Auditors?

A: An audit committee is one of the major operating committees of a company's board of directors that…

Q: While listing the functional Committees of the Board and explaining their significance, explain the…

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Q: What are the auditor’s responsibilities for ‘going concern’?

A: Going-concern: It can be defined as the principle of accounting that is based on an assumption that…

Q: what are the responsibility of Board members with regards to internal controls?

A: Internal Controls Internal controls refer to the rules, regulations, or processes implemented by a…

Q: Audit Act

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

Q: What is the importance of strategic audit? and its scope.

A: Strategic audits help in making audits effective and efficient. It provides a basis for audit…

Q: Does the audit opinion extend to the "other information"? Explain. *

A: Auditing refers to the process of scrutinizing the financial statement of the business entity and…

Q: the role of the Chief Audit Executive?

A: A chief audit executive or the head of the internal audit function in a company is a staff from the…

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…