When planning an audit engagement, what matters should be considered about a client’scomputerized processing environment?

Q: What are the conceptual phases of an audit? How do they differ between general auditing and IT…

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

Q: How will you explain the Auditing Process to someone with experience in Auditing?

A: Auditing: An audit looks at your company's financial records to make sure they're correct. This is…

Q: Why are audit objectives important in planning and performing an audit? Is it possible for audit…

A: Why are audit objectives important in planning and performing an audit? Audit objectives are the…

Q: What are the quality, environmental, OH&S concerns in this activities to be verified during audit?

A: Auditing is required so that it can be assured that the work which is going on which are conducted…

Q: What is the general objective of audit planning?

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

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 should an auditor do prior to accepting an audit engagement?

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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: How do Analytical Procedures assist the auditor?

A: Analytical procedures:   Analytical procedures are the examination of the financial statements. The…

Q: What are some factors that complicate the post-audit process?

A: Capital projects are selected by using capital budgeting techniques. Post audit refers to evaluation…

Q: Discuss how important is the risk assessment stage in audit engagements? Explain what audit…

A: The risk assessment stage is very important in an audit, as it gives the auditor an idea on the risk…

Q: factor to be considered by an auditor while performing analytical procedures?

A: Option a is wrong because it is a correct statement. Auditor will procure an expected amounts or…

Q: How to Determine Materiality in Audit?

A: solution concept materiality means the amount or figure that is able to affect the judgement or…

Q: In referencing professional standards, what factors should auditors consider in evaluating potential…

A: Going concern is an accounting concept that makes the assumption that business will be able to…

Q: What is vouching? Discuss its importance in auditing.

A: Voching is the  backbone  of auditing

Q: Describe the purpose of an audit. How can the audit experience be viewed as positive?

A: The study and verification of a company's financial data is described by as audit in accounting. An…

Q: What is meant by the terms nature, timing, and extent of further audit procedures?

A: Audit procedure: To determine the quality and accuracy of the financial information provided by the…

Q: What should an auditor understand with respect to Information and Communication on an audit?

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

Q: What factors should an auditor consider prior to accepting anengagement? Explain.

A: Introduction: A financial audit is a purposive inspection and assessment of the financial statements…

Q: What sources of information can auditors use in connection with deciding whether to accept a new…

A: Definition: Auditing: Auditing is the process by which assertions made by management about financial…

Q: Defining what lapping is and how it might be discovered by an auditor is the first step. The auditor…

A: Lapping is a fraudster activity in which one persons money is recorded as payment received from…

Q: Explain what is meant by lapping and discuss how the auditorcan uncover it. Under what circumstances…

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Q: What exactly is included inside an audit plan?

A: This question explains about an audit plan

Q: How is the audit risk model used to plan the audit?

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Q: If an auditor does not intend to rely on internal controls in the audit, does the auditor need to…

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

Q: Why is it important for an auditor to carefully assess inherent risk on each audit engagement?

A: Definition: Inherent risk is the probability that material errors or frauds have entered the…

Q: Explain the circumstances when an auditor needs to assess the components of the audit risk model…

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Q: what information do we need for analytical procedure in auditing?

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Q: What would be the audit resolution in case there is a difference of opinion in the engagement team?…

A: Auditing is the process of checking and verifying the accuracy and authenticity of books of accounts…

Q: It's important to explain what lapping is and how an auditor may find it. When should the auditor…

A: This question explains about what lapping is and how an auditor may find it.

Q: What is the difference between an external audit engagement and a Review Engagement, please explain.

A: External audit engagement and a Review Engagement will be explained:

Q: In obtaining audit evidence, the auditor should use professional judgment to assess the risk of…

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

Q: What type of audit report does a client typically want or hope for?

A: Audit report is the statement wherein the auditor gives its view on the financial statements of an…

Q: What are the objectives of an audit risk assessment? Explain why a risk assessment performed during…

A: Audit risk assessment is such a procedure which are all performed for the purpose of understanding…

Q: ideal outcome of the audit procedure or process? (auditing)

A: Auditing is a procedure conducted by professional accountants to ensure whether the financial…

Q: The audit plan is more detailed than the overall audit strategy in that it includes the nature,…

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

Q: Why is it necessary to evaluate the attributes of audit evidence? Explain

A: The information gathered by an auditor to determine the correctness and conformity of a…

Q: Identify benefits of using analytical procedures in the audit process

A: Although every audit process is unique, the audit process is similar for most engagements and…

Q: Help me understand the distinction between an external audit and a Review Engagement.

A: This question explains about the distinction between an external audit and a Review Engagement.

Q: What is an audit program

A: Audit program An audit programme is a detailed, written statement designed by the auditor indicating…

Q: Audit should be performed by persons having adequate training, experience and competence is referrec

A: Audit: The audit is an individual examination of financial statements or financial information to…