Which of the following is most closely related to the responsibilities principle?a. The auditors’ responsibility to issue a report as a result of their examination.b. The requirement that auditors gather sufficient, appropriate evidence upon which to base an opinion on the financial statements.c. The auditors’ compliance with relevant ethical requirements of independence and due care.d. The auditors’ responsibility to plan the audit and properly supervise assistants.

Q: Which of the following is usually not part of an internal audit department’s audit charter?a. A…

A: Internal Auditor: An internal auditor is a qualified professional hired by an entity to provide an…

Q: Auditors’ understanding of the internal control in an entity provides information fora. Determining…

A:

Q: The Responsibilities principle requires that auditors be responsiblefor having appropriate…

A: Definition: Independent auditor: Independent auditor or external auditor is the accountant who is…

Q: What are the auditor’s responsibilities to communicate information to the audit committee under…

A:

Q: The auditor shall communicate with those charged with governance an overall approach and scope of…

A: Auditor shall communicate to the management regarding its scope of audit.

Q: Prior to accepting a new audit engagement, a public accounting firm shoulda. Attempt to contact the…

A: Auditing:   Examining the company’s financial records for accuracy by maintaining Accounting…

Q: matteraffecting creditability of the adutior

A: An auditor certifies that the financial statements subject to the audit represent the true state of…

Q: When expertise in a field other than accounting or auditing is necessary to obtain sufficient…

A: Auditing is the verification of financial statements by the auditor who then provides judgmental…

Q: The auditor shall communicate with those charged with governance an overall approach and scope of…

A: The auditor shall communicate with those charged with governance an overall approach and scope of…

Q: orts important to users of financial statements and why it is desirable to have standard wording for…

A: Auditors refer to the entity whose vital job is to check or investigate all the financial documents…

Q: a. Describe how professional skepticism will assist the auditor to perform the audit effectively. b.…

A: Professional skepticism means an attitude that includes a questioning mind, being alert to…

Q: The Performance Principle in AICPA auditing standards requires the auditor to obtain a sufficient…

A: An auditor is a person who checks the financial statements of the company. An auditor checks the…

Q: Please briefly discuss the need for the auditor’s evaluation of post balance sheet events as well as…

A: Post balance sheet events means events that are passed after the balance sheet date. Going concern…

Q: Describe the quality of following types of evidence giving two examples of each form of evidence…

A: 1.    (i)   The evidence obtained by the auditor is the evidence appearing before the auditor in the…

Q: Who develops and implement policy on the engagement of the external auditor to supply non-audit…

A: External auditor is the person outside the organization, who performs the audit services for the…

Q: Which of the following statements is correct concerning an auditor's required communication with…

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

Q: hich of the following statements is incorrect? Select one : a. Internal auditors provide assurance…

A: The auditor needs to know the financial information of the company in which he is being engaged as…

Q: Discuss the duties and responsibilities of a CPA. Consider why independent auditors' reports are…

A: A Certified Public Accountant (CPA) is a certified accounting practitioner who has the Certified…

Q: Classify each of the following issues according to whether they will be (1) included in written…

A: a.   (1) included in written representations in all audits.

Q: Auditing standards are: a. Ways to obtain / collect proof of transaction b. A collection of rules…

A: Audit is defined as the examination of the books of accounts or financial statement of the entity…

Q: The preparation of audit documentation is an integral part of an auditor’s examination of financial…

A: Audit Documentation:   Audit documentation is a written record that discloses the conclusions of…

Q: During the reporting phase, what technique is used to assess if the financial statements reflect the…

A: solution dear student as per bartleby guideline we are required to solve the first question only .…

Q: The primary objective of compliance auditing is toa. Give an opinion on financial statements.b.…

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

Q: Which of the following is most true in relation to governance? О а. The Internal Audit department…

A: In the given case the external auditor is solely responsible for the audit opinion expressed on the…

Q: "Auditor should remain alert to the possibility that other audit procedures applied may bring…

A: Substantive tests includes the activities performed by auditor to detect material misstatements at…

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: The execution stage of an audit involves: evaluating the results of the detailed testing and…

A: Auditing- The term "audit" is a very broad term that essentially means to thoroughly examine…

Q: Which one of the following section of the auditor's report gives a description of an audit conducted…

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

Q: Which statement is incorrect regarding the external auditor's consideration of the work of internal…

A: Following is the answer to the given question

Q: Which of the following aspects are required to be included in the basis for opinion section in the…

A: Auditor Opinion The foremost responsibility of an Auditor to his client to express the opinion…

Q: Answer the below: What do you understand by attestation services? Discuss the responsibility and…

A: Attestation Services:-These are services when a certified Public Accountant (CPA) expresses his…

Q: An Auditor must perform audit procedures in order to obtain sufficient appropriate audit evidence…

A: An Auditor must perform audit procedures in order to obtain sufficient appropriate audit evidence…

Q: Which of the following statements regarding audit evidence is generally correct?    The auditor's…

A: SOLUTION- The auditor must obtain a sufficient amount of relevant and reliable evidence to form an…

Q: A CPA firm’s quality control procedures pertaining to the acceptance of a prospective audit client…

A: CPA is the Certified public accountant which is generally appointed in order to perform audit…

Q: Discuss the responsibility and functions of CPA. Then, Identify why independent Auditors' Reports…

A: Certified Public Accountant (CPA) is a qualified accounting professional . CPA is responsible for…

Q: Define the concept of materiality in the context of financial reporting. What is the difference…

A: Materiality in Financial Statement:- Materiality in Financial Statement means the impact of omission…

Q: What is the general character of the responsibilities characterized by the Performanceprinciples?(1)…

A:

Q: Briefly describe the key requirements included in professional auditing standards regarding the…

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