Which of the following is not related to ethical requirements of auditors?a. Due care.b. Independence in appearance.c. Independence in fact.d. Professional judgment.

Q: What is the biggest role or contribution that an accountant/auditor can do in ensuring that ethical…

A: Fraudulent Activities: Deception or other unethical tactics are used to acquire an unlawful benefit,…

Q: c) Which of the following is not an impact of SOX on auditors Multiple Choice a) Increased…

A: solution concept SOX Sarbanes Oxley Act is a act which aims at protecting the stakeholders of the…

Q: irector of the client. B. An auditor acts as an advocate on behalf o

A: Here in the given MCQ, the option C & D are self interest threats. (whereas other two options…

Q: Discuss various type  of opinion is issued by the auditorr if he or she is unable to determine the…

A: Introduction: Auditing is the process of recognizing, verifying, and continue to study all…

Q: Which of the following best describes the effect of a contingent fee arrangement on the auditor's…

A: The contingent fees rule has been defined in Section 1.510 of the AICPA’s revised Code of…

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

A:

Q: How might an auditor individual characteristics affect his or her professional judgment about…

A: The concept of Materiality refers to the recognition of some matters which either individually or…

Q: Which of the following is not correct about professional judgment? a. Professional judgement is…

A: professional judgment -   professional judgment is an application of knowledge and experience of an…

Q: Which of the following concepts is least related to the standard of due care?a. Independence in…

A: In situations when there is a major issue and its analysis is technically relevant, auditing…

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: 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: Which of the following is not required by generally accepted auditing standards?a. Written…

A: Generally accepted auditing standards (GAAS): These are defined as the set of general principles and…

Q: t an audito

A: The temptation to interpret data in a way that supports assumptions might seduce an audit and derail…

Q: Distinguish between independence in fact and independence in appearance. Can auditors be independent…

A: Independence in fact means when the auditor is actually independent and not working as the puppet of…

Q: What factors should the auditor take into consideration before concluding that a financial statement…

A: Financial statements should give crucial information to any interested user of financial data so…

Q: Which of the following is most closely related to the responsibilities principle?a. The auditors’…

A: Responsibility principle: A fundamental principle which is concerned with the ethical requirements…

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: A CPA wishes to use representation letter as a substitute for performing other audit procedures.…

A: Following is the answer to the given question

Q: Which of the following is NOT an important consideration for the auditor’s assessment of audit…

A: Audit committee is entrusted with the task of overseeing the reporting and disclosure requirements…

Q: It is not necessary for the confidentiality provisions of relevant ethical requirements that apply…

A: Auditor is the professional who examines the financial statements and reports of the entity and give…

Q: Users of financial statements have a different perception concerning the nature of auditors’services…

A: Users of financial statements have a different perception concerning the nature of auditors’services…

Q: Auditors are not responsible to detect all errors in the financial statements. Discuss the concepts…

A: Professional skepticism is recognizing the possibility that a material misstatement due to fraud…

Q: How does the prudent person concept affect the liability of the auditor?

A: Prudence is one of the accounting principle, which says that all anticipated losses should be…

Q: Which ethical principle is violated by an auditor who discloses information for personal gain? a.…

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

Q: s it necessary for an auditor to understand the client's internal control if the auditor does not…

A: Answer: Concept: Audit is independent check of any entity to derive the conclusion which are true…

Q: From a conceptual standpoint, how do the requirements of Sarbanes–Oxley related to nonaudit services…

A: Sarbanes-Oxley Act: Sarbanes-Oxley Act was formed after the major accounting scandals to provide…

Q: An expert under employ by the client cannot be used for purposes of the auditor’s work because doing…

A: An audit planning refers to the strategy and the detailed approach related to the nature, timing,…

Q: discuss the type of opinion is issued by the auditorr if he or she is unable to determine the…

A: Introduction: Auditing is the process of verifying, validating, and continuously investigating all…

Q: Explain auditors’ responsibilities with respect to a client’s failure to comply with laws or…

A: Auditor’s  report: Auditor’s report can be defined as a formal document prepared by an auditor in…

Q: What is the importance for auditors to exercise a reasonable care and skill in the performance of…

A: Operational efficiency and effectiveness can be improved through performance audits and operational…

Q: AICPA independence requirements suggest that a CPA should evaluate whether a particular threat to…

A: AICPA: It is the world's largest National professional organisation which represents the accounting…

Q: How will you explain the different types of audit opinion (e.g., Unqualified, Qualified, Adverse,…

A: Audit opinion refers to the opinion given by the auditor of the entity on examination of the…

Q: Do you believe that the SEC should prohibit auditors from providing all nonaudit services for audit…

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: If the Financial Statements are prepared do not achieve fair presentation, then an auditor shall O…

A: An audit is defined as the examination of financial statements in order to check whether or not the…

Q: Describe the audit opinion that should be given and explain why. a)When the client is not a going…

A: Going concern assumption is a basic assumption used for the preparation of financial statements.…

Q: Which of the following statements are not true about auditors responsibilities? a) The financial…

A: As per ISA 200, The auditor's objectives are to obtain reasonable assurance about whether the…

Q: What are some civil and criminal consequences if CPAs/auditors fail to follow professional…

A: The CPA may be held liable to financial users for any fraud and/or intentional deceit committed. Any…

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: Professional skepticism is a. An attitude that includes a questioning mind. b. The auditor's…

A: Audit is the process of checking and verifying books of accounts and financial information of…

Q: Refer to the fundamental principles governing an audit. Under the responsibilities principle,…

A: Given information is: Under the responsibilities principle, auditors are required to exercise due…

Q: Can a CPA auditor be independent without being objective? Can a CPA auditor be objective without…

A: The given question deals with STANDARD AUDIT SA 1100 - INDEPENDENCE AND OBJECTIVITY…

Q: Determine whether or not a person is really independent. Is it possible for auditors to be really…

A: This question deals with  whether or not a person is really independent:

Q: Explain professional skepticism and why it is important for all auditors.

A: Auditing is the process of examination of financial records of the entity with a view to express an…

Q: O The determination of how to audit and review a client's subsequent events is a subjective one. The…

A: Subsequent events refers to an event that occurred between the reporting period and the date of…

Q: If an auditor believes that an understanding with an audit client has not been established he or she…

A: As per the ISA 220, Agreeing the terms of the audit engagement, One of the basic objectives of the…

Q: What are the implications of the cautious person notion for the auditor's legal responsibility?

A: This question explains about the implications of the cautious person notion for the auditor's legal…