Which is NOT the function of an auditor? a. To give a true and fair view b. To ensure compliance to statutory acts applicable c. To do independent examination of books of accounts d. To prepare financial statements

Q: Auditors are not responsible for accounting estimates with respect toa. Making the estimates.b.…

A: Select the accounting policies and accounting estimates is the responsibility of the management to .…

Q: why would an auditor ensure that all revenue-related disclosures are made in the financial…

A: Explanation of disclosures Disclosures refer to that piece of information that includes figures,…

Q: Which of the following statements relating to accounting and auditing is incorrect? i) Accounting…

A:

Q: The auditor considers materiality from the point of ___________ a. Overall financial information and…

A: Concept of materiality states that the information is required to be provided in the financial…

Q: Which is not a purpose of the IASB’s Conceptual Framework? -To assist auditors in forming an…

A: Which is not a purpose of the IASB’s Conceptual Framework::::: To assist preparers to develop…

Q: which of the following in not related to standards of reporting Select one: a. The report shall…

A: Report is a statement that is prepared by the auditor of the financial information. It includes the…

Q: Which of the following opinions would be issued if auditors believed that the entity’s financial…

A: The audit report offers a summary for a given fiscal year of a company's financial performance.

Q: Which of the following statements is not true with respect to the auditors’ report on…

A: Internal Control: Internal control is a mechanism or procedure that the company implements so that…

Q: An independent audit aids in the communication of economic data because the audit ________.…

A: The role of the auditor is to determine whether the reports prepared by the management follow the…

Q: Describe the financial statement's aims and purposes, and explain how the auditor intends to verify…

A: This question dells with  the financial statement's aims and purposes, and explain how the auditor…

Q: The auditor's responsibility in relation to the assessment of going concern basis of accounting is…

A: as per ISA 570(revised) : Going Concern   The Auditor Responsibility is to obtain sufficient…

Q: It is the responsibility of the board of directors to: Ensure that the financial report is O…

A: The responsibilities of an auditor and the board of directors of a company differs with each others.…

Q: itor to modify the opinion in accordance with ISA 705 (Revised) Modifications to the Opinion of the…

A: Auditor's report refers to a report in which the auditor state that the financial statements…

Q: The auditor has considerable responsibility for notifying users as to whether or not the statements…

A: Audit: It is the independent examination of books of accounts of the company with the motive to…

Q: f in the auditor’s judgment, management’s use of the going concern basis of accounting in the…

A: Under going concern concept, entity's financial statements are prepared on the assumption that the…

Q: Financial audit Q&A Auditors also need to consider the subjective needs of users of financial…

A: Auditing involves an independent examination of financial records of an entity with a view to…

Q: Which of the following best describes the role of analytical procedures near the end of theaudit…

A: Analytical procedures are performed near the end of audit engagement to provide an overall review of…

Q: corrections

A: An auditor of financial statements verify financial statements to give an unbiased opinion on true…

Q: Auditor gives ________ regarding the financial statements a. Accurate view b. True and fair view c.…

A: Solution:- Every auditor required to give opinion on financial statements after examination books of…

Q: A misstatement in the financial statements can be considered material if knowledge of…

A: We have the following question: A misstatement in the financial statements can be considered…

Q: Which type of audit report specifies that financial statements do not present fairly the financial…

A: The audit is required to be conducted so as to examine the accuracy of the books of accounts,…

Q: Under what circumstances auditor may express an unqualified opinion? 1. The view presented by the…

A: Auditor's opinion refers to the report, which is issued to the management after a complete audit of…

Q: Which of the following information is not shown in the opinion paragraph A. The accounting policies…

A: This questiontion is answered as per international standards on auditing

Q: Describe the action that an auditor should take if an attorneyrefuses to provide information that is…

A: In general, Auditor is a person or firm who is appointed by the company to execute or to…

Q: Basic Reports. The concepts of materiality and pervasiveness are important to auditors in…

A: Introduction: An unqualified opinion indicates that the auditor believes the statements are free…

Q: When an auditor uses the work of an expert, who has the responsibility for arriving at ar overall…

A: Introduction:- The auditor’s use of the work of an expertise in a field other than accounting or…

Q: all of the following are the responsibilities of the auditor except : Select one: a. adopting sound…

A: Auditor: An auditor is a person or a group of people who is responsible for conducting an audit of…

Q: What are the two requirements for the auditor to offer an unqualified opinion on internal financial…

A: Auditor's assessment: The Auditor's certification is added to the financial statements as a…

Q: The auditor's assessment of the reliability and sufficiency of the information contained in the…

A: Audit test - The auditing Assess the reliability and sufficiency of the information contained in the…

Q: When asked to perform an audit to express an opinion on one or more specified elements,accounts, or…

A: Auditing procedures are used to determine the fairness and authenticity of the financial records…

Q: What two conditions must be present for the auditor to issue anunqualified opinion on internal…

A: Audit Opinion: It is a certification of the auditor attached along with the financial statements. It…

Q: What type of opinion is issued by the auditor on the financial statements when there is some…

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

Q: Which of the following would not require an explanatorylemphasis-of-matter paragraph in the…

A: Auditor's Report: It is a report which contains independent opinion of an auditor regarding…

Q: Write a sample auditors’ report showing stating unqualified audit opinion.

A: Auditors report is the document prepared by the auditor after the completion of audit procedure and…

Q: xplain the auditor's role in ensuring that rules and regulations are followed. How does this…

A: Non-compliance with applicable rules and regulations may hurt financial statements, as violators…

Q: : The auditor's report on the group financial statements shall not refer to a component auditor,…

A: Solution: True, The auditor's report on the group financial statements shall not refer to a…

Q: Do auditors have an obligation to report on (a) audited financial statements and (b) any additional…

A: This question tells abut audited financial statements and additional information required by law

Q: Which of the following are the auditor's responsibilities when it comes to the financial stațements?…

A:

Q: he concept of materiality is less important for public accountants in determining:

A: Materiality: Materiality is used to indicate the impact of information on the financial statement.…

Q: Which of the following statements regarding additional information that is included in a document…

A: Audited financial statement is the financial statement which has been audited by the qualified…

Q: If the auditor concludes that management’s use of the going concern basis of accounting is…

A: A material uncertainity is a condition where there is a reasonable…

Q: When accountants are not independent, which of the following reports can they nevertheless issue?a.…

A: Auditing:   Auditing is a gathering of information and evaluation of evidence as to report on the…

Q: Describe the action that an auditor should take if an attorney refuses to give information that is…

A: In general, an auditor is a person or organization employed by a business to conduct or oversee an…

Q: ustify the auditor's duty to evaluate conformity with applicable rules and regulations. How does…

A: As defined in IAS 250, Consideration of laws and regulations in financial statement auditing.

Q: Which one of the following is NOT a duty of the auditor? Duty to report on any violation of law Duty…

A: The duties of an Audi have been laid down by the companies Act , 2013, providedd in section 143.

Q: Explain the auditor’s responsibility to consider compliance with laws and regulations. How does this…

A: As per IAS 250, Consideration of laws and regulations in an audit of financial statement. Auditor is…

Q: assurance level

A: Audit Assurance is the process of analyzing financial statements by an auditor and giving a…