Which of the following is not the requirement of ISA 500? O a. Over-all audit strategy O b. Information to be used as Audit Evidence O . Consistency in audit evidence O d. Sufficient Appropriate Audit Evidence

Q: The auditing standard that is relevant to ISA 250, consideration of Laws and Regulations in an audit…

A: An auditor is appointed by the shareholders of the company to examine the accounting books including…

Q: What type of audit opinion is preferred when analyzing fi nancial statements? C . Unqualifi ed.

A: Audit opinion: Audit opinion can be defined as an opinion formed by an independent auditor based…

Q: Audit standards distinguish auditors’ responsibility for planning procedures for detecting…

A: Auditors have duty to distinguishing material error of budget summaries because of resistance with…

Q: The form and content of audit engagement letters may vary for each client, but they would generally…

A: Auditing: Auditing is the investigation, inspection, or examination of the financial statements of…

Q: Which of the following statements is/are true with regard to Audit?   (A) Auditing is as old as…

A: An audit is an independent examination of financial information of an entity whether profit-oriented…

Q: Why is the Auditing Standards Board’s set of management assertions important to auditors? Dothese…

A:

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: Which of the following is a category of audit documentation? * Current file Permanent file O Audit…

A: Audit documentation: It is the record of procedure performed, relevant audit documents obtained and…

Q: The following are concepts discussedin this chapter:1. Preliminary judgment about 7. Estimated total…

A: a. Following items are audit planning decisions that require professional judgment as follows: 1.…

Q: What is the auditors’ reporting responsibility for (a) other information accompanying the…

A: Auditors' main responsibility is to express an opinion on the financial statements of an entity that…

Q: T/F The AICPA's “audit risk model" applies to the relevant assertion-level of an individual audit…

A: The audit risk model is the foundation of any audit. It is a tool used by auditors to understand the…

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: If an analytical procedure performed, identify fluctuations or relationships that are inconsistent…

A: If an analytical procedure performed, identify fluctuations or relationships that are inconsistent…

Q: ISA 700 deals in O a. Planning the audit O b. Obtaining sufficient appropriate evidence O .…

A: ISA  stands for International Standards on Auditing

Q: The primary purpose of accumulating sufficient and appropriate audit evidence is to Group of answer…

A: Sufficient and Appropriate Audit evidence Sufficient Audit evidence refers to Quantity of Audit…

Q: Which of the following ideas is NOT included in the "Purpose" section of the Principles Underlying…

A:

Q: Which of the following is not a content of current audit file? Copies of communication with experts…

A: The content of the current audit file: Copies of communication with experts or other auditors…

Q: When auditors wish to issue an unmodified opinion but highlight that the entity changedits method of…

A:

Q: For all audits of financial statements made in accordance with auditing standards,the use of…

A: Analytical procedure helps auditor in planning the nature, timing and extent of audit. It helps in…

Q: ch of the following factors is most important in determining the competence of audit evidence?…

A: Solution: "The reliability of the evidence in meeting the audit objective" is most important in…

Q: SA500 Audit Ev

A: In the audit context, the “sufficient” usually refers to the quantity while the “appropriate”…

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

A: To find the incorrect option as,

Q: Which one of the following statement is TRUE as per ISA 300? Answer saved Marked out of The audit…

A: Audit plan is detailed and structured planned program which provides instructions  as to how each…

Q: Consider the concepts of sufficient and appropriate audit evidence. Assess how audit risk relates to…

A: It is responsibility of an auditor to express his opinion on Reliability of financial statements. An…

Q: Which of the following is a category of audit documentation? Current file Permanent file Audit…

A: Auditing involves an independent examination of an entity's financial information with a view to…

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: 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: Which of the following statements is not a correct statement regarding audit evidence? Select one:…

A: Audit evidence Audit evidence can be defined as the evidence that a company obtains during the…

Q: Please explain the qualified and unqualified audit report with appropriate examples

A: Auditing is the process under which a qualified experienced person with proper knowledge would be…

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: the group engagement partner decides that the component auditor cannot access sufficient ppropriate…

A: a) The group engagement partner has decided that component auditor cannot access the evidence…

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: Which type of service may not need an audit opinion or review conclusion from auditors? Select all…

A: An audit engagement is an arrangement between an auditor and client to perform an audit and express…

Q: Which one of the following audit objectives is based on the completeness assertion? a. Disclosure b.…

A: Transactions in a company include sales, purchases, wages paid, salaries paid, income earned through…

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: 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: The following (1 through 18) are the balance-related, transactionrelated, and presentation and…

A:

Q: Salim is an auditor planning with engagement team members how to obtain an audit evidence. In this…

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

Q: statements about audit evidence is correct

A: First option is wrong because the statement is about relationship between audit objective and audit…

Q: Documentation of an Audit Data Analytic (ADA), should be sufficient enough such that: O An…

A: Audit data analytics is an analysis of an entire population.  It is not done on the sampling basis.…

Q: Summarize 1101 Audit risk, 1105 Audit Evidence and 1110 Relationship of Auditing Standards to…

A: Auditing is an important function that every organization pertains to after the preparation of its…

Q: 5. Which of the following is not a primary purpose of audit documentation? * A. To assist in the…

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

Q: Ordinarily, what source of evidence should least affect audit conclusions?a. External documentary…

A:

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…