What is the appropriate nature of opinion when the auditor having obtained sufficient appropriate audit evidence concludes that misstatements individually or in the aggregate, are material but not pervasive to the financial statements?

Q: ltimate purpose of assessing control risk is to contribute to the auditor’s evaluation of the: a.…

A: Control Risk: It is also known as internal control risk; this risk arises due to the inefficiency…

Q: What will the auditor NOT consider when reaching a conclusion on the results of substantive…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : The…

Q: The auditor may add an explanatory paragraph to the unqualified audit report in the following…

A: GAAP - It is termed as Generally accepted accounting principle. It is basically an accounting…

Q: Auditors obtain reasonable assurance that financial statements are fairly stated by performing all…

A: Reasonable assurance is the term of auditing which states the level of the assurance auditors are…

Q: the auditor to doubt the reliability of one or more written representations? I. One or more written…

A: Written representation are obtained as a direct written response from the management, only to…

Q: Which one of the following opinion will be issued by the auditor, if the misstatement in the…

A: Types of Auditor's Opinion : There are the four types of Auditor's opinion    Disclaimer : If the…

Q: The auditor must obtain which audit evidence to draw reasonable conclusion a. Appropriate audit…

A: Option D is the correct answer i.e Sufficient and appropriate audit evidence.

Q: Which of the following statements are True i. The auditor has a responsibility to plan and perform…

A: Option The auditor has a responsibility to plan and perform the audit so as to obtain reasonable…

Q: What category of audit report will be issued if the auditor concludes that the financial…

A: Given: The issue to the auditors if the unfair financial statements are concluded.

Q: An adverse opinion is most likely to be included in an audit report when   Multiple Choice   A…

A: There are 4 types of audit opinions.  1.unqualified  2.Qualified 3.Disclaimer 4.Adverse opinion

Q: The auditor shall express what kind of opinion when the auditor, having obtained sufficient…

A: Auditor will review the financial statements of a firm and perform auditing procedures, where the…

Q: If the auditor performing an integrated audit identifies one or more material weaknesses in a…

A: Material weakness is defined as a deficiency or the combination of deficiencies in the company…

Q: when the auditor find that the financial statement are not present fairly in all material respect .…

A: An auditor is appointed to check the accuracy of the financial statements of the company. After…

Q: Explain why the auditor can be persuaded only with a reasonable level of assurance, rather than…

A: Auditor refers to the person who analyzes a company's financial statements by using evidence…

Q: Corroborating evidence is additional evidence which accumulated by the auditor to support the…

A: The supporting documents or working papers collected by the auditor in order to support its audit…

Q: The auditor shall express what kind of opinion when the auditor, having obtained sufficient…

A: The audit is an independent examination of the financial information of an entity whether…

Q: Which of the following statements is incorrect? Modified opinion is a qualified opinion, an adverse…

A: As per Bartleby Guidelines, only the first question will be answered since they are independent of…

Q: Which of the following statements is incorrect regarding the reliability of audit evidence? a.…

A: The audit is an independent examination of financial information of an entity whether…

Q: Which of the  factors below does not have to be  considered by the auditor in determining the Key…

A: Key audit matters (KAM) are the significant matter which was found during the audit of the financial…

Q: n, which of the following should be included in the opinion paragraph?     The reasons the…

A: The Generally Accepted Accounting Principles (GAAP ) are a collection of accounting rules and…

Q: Which of the following statements is false regardingsubstantiveanalytical procedures?a. Substantive…

A: Audit is the process of checking and authenticating books of accounts and financial statements. It…

Q: A lack of reasonable care that may be characterized by the failure of auditors to followGAAS in the…

A: Generally Accepted Auditing Standards (GAAS): Generally accepted auditing standards (GAAS) states…

Q: ment of materiality guides audit planning and testing   materiality is used to guide the validity…

A: To find the incorrect option as,

Q: In an adverse opinion is expressed on the audited FS, the auditor shall express a disclaimer of…

A: Auditor opinion is statement the statement by independent auditor on finalizing statement of entity.…

Q: Which of the following factors are to be considered by the auditor to express a modified audit…

A: Auditor's opinion is based on the review of the financial statements of a company. An auditor's…

Q: Which of the following characteristics is not a measure of the appropriateness of audit evidence?…

A: Relevance and reliability are the two most important characteristics of audit evidence.

Q: Which of the following statements concerning audit evidence is true?(1) To be appropriate, audit…

A: The auditor should form a reasonable opinion based on the appropriate and sufficient audit evidence.…

Q: The auditor faces a risk that the examination will not detect material misstatements in the…

A: Introduction: An auditor verifies the accuracy of videoed commercial transactions. Auditors must…

Q: Which of the following presumption is correct about the reliability of audit evidence

A: Reliability of audit evidence :-  Evidence from sources outside an entity is more reliable than…

Q: An opinion based in part on the report of another auditor requires a modified wording in the…

A: Audit is the process of checking and verifying the authenticity of financial statements which are…

Q: What is the appropriate nature of opinion when the auditor is unable to obtain sufficient…

A: Auditor's opinion is a report based on the audit of a company's financial statement. Therefore, it…

Q: .“It is the auditors’responsibility to gather sufficient appropriate evidence to reachtheir opinion.…

A: .“It is the auditors’responsibility to gather sufficient appropriate evidence to reachtheir opinion.…

Q: Which of the following statements is correct about the reliability of audit evidence? a.…

A: Audit evidence means evidence or supportings that is obtained by auditor during the course of audit.…

Q: The auditors determined that the entity is suffering financial difficulty and its going-concern…

A:

Q: For each of the general audit procedures of (1) recalculation, (b) observation, (c) confirmation…

A: Audit procedures:  the procedures of audit are those techniques or processes which the auditors…

Q: The Auditor prepares a disclaimer of opinion: a. When he cannot find any misstatement in the report.…

A: A clean or unqualified opinion is made by an auditor when the auditor cannot find any discrepancy or…

Q: Define the danger of substantial misrepresentation. RMM is measured by auditors at what level of the…

A: Introduction : Because you posed a question with numerous subparts, we will solve the first three…

Q: What tyype of opinion is issued by the auditor if he or she is unable to determine the overall…

A: Introduction: In an audit report, an auditor's opinion is conveyed. An initial portion of the audit…

Q: What steps do you believe auditors should take if the client is not pleased with the type of audit…

A: Here discuss about the details of the Steps which are taken by the Auditors whether the Client are…

Q: In a financial statement audit, the auditor obtains a reasonable level of assurance about whether…

A: The auditor's duty is to provide a reasonable assurance of whether financial statements are free…

Q: Sufficient and appropriate evidence is the focus of the third field work standard. * O True O False…

A: Audit is referred as an examination of the different books of accounts through an auditor that…

Q: In the auditor's judgement, management's use of going concerm basis of accounting is appropriate,…

A: As per standards on auditing , If the adequate disclosure is not made in the financial statement…

Q: when the auditor discover a misstatement in the financial statement and this misstatement is…

A: The auditing will be conducted to find whether there are any errors or mistakes in the financial…

Q: With regard to corrective action on audit results, which of the following is not theinternal…

A: Internal auditor is the one who provides independent and correct evaluation of operating and…