Which of the following types of audit evidence generally is the most reliable

Q: Identify the primary audit objectives that auditors hope to accomplish by confirming a client's…

A: Accounts receivable (AR) is the money owed to a company for products or services that have been…

Q: List and describe the required preengagement activities that auditors undertake before beginning an…

A: Pre-engagement activities: The summary of risk assessment procedure that need to be performed before…

Q: n which of the following audit type the operational area of the audit is determined by management?

A: The correct answer is b. Internal Audit

Q: Discuss the auditor’s responsibility for detecting subsequent events (a) prior to the completion of…

A: Auditor is the independent professional personnel appointed by the business organizations to perform…

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: The auditing standards regarding subsequently discovered facts refers to knowledge obtained aftera.…

A: Answer:   Option B

Q: Which refers to the record of audit procedures performed, relevant audit evidence obtained, and…

A: Audit documentation can be termed as keeping various records and procedures which was performed by…

Q: For auditors, the term materiality is important, both at the planning stage of the audit and at the…

A: Materiality is a concept in accounting refers to that all the material facts / items should be…

Q: dentify the primary audit objectives that auditors hope to accomplish by confirming a client's…

A: Accounts receivable (AR) is the amount owing to a business for goods or services delivered or used…

Q: What is (are) the purpose(s) of audit documentation?  Group of answer choices  Provide a…

A: Solution: The purpose(s) of audit documentation is:   1. Provide a reasonable assurance that the…

Q: The particular and specialized actions that auditors take to obtain evidence during a specific…

A: Auditing:   In auditing, auditors verify the correctness and fair presentation of financial…

Q: When auditing the accounts payable balance on the balance sheet, an auditor’s procedures most likely…

A: Auditing is the inspection of the financial records of the company or organisations with no bias and…

Q: Which of the following is correct about assembling the audit documentation in an audit file? O a.…

A: Audit:- An audit is considered as the physical examination of books of account of company by an…

Q: A primary objective of analytical procedures used in the final review stage of an audit is toa.…

A:

Q: various types of information, guide to scope of substantive procedures, compliance audits,…

A: Auditing term, phrase, or organizational name Term Explanation  Internal auditor works for a…

Q: During an audit engagement, pertinent data are compiled and included in the auditfiles. The audit…

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

Q: Audit documentation is the written record of the basis for the auditor's conclusions that provides…

A: Audit:- An audit is referred as the physical examination of books of accounts of particular company…

Q: When can controls tested by an auditor in a prior year be used in the current year's audit…

A: Internal controls provides reasonable assurance that material misstatements will be prevented,…

Q: explain .After documenting internal control in an audit engagement, the auditor may perform tests on…

A: The following tests that the auditor might perform are presented in the order of the evidence that…

Q: What are auditors’ responsibilities for subsequently discovered facts if these are identified…

A: Subsequently Discovered Facts: These are the facts that become available or known to the auditor…

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: matters are communicated to those charged with governance at the end of an audit

A: Third option is wrong because the expected modifications to the audit report are based on the…

Q: In determining whether transactions have been recorded, the direction of the audit testing should be…

A: An audit is a process of examining the books of accounts by the auditor so as to know whether the…

Q: The auditors use an analytical procedures during the course of an audit. The most important phase of…

A: Experienced auditors take charge of the analytical procedures at all levels of the audit. Analytical…

Q: Which of the following procedures would an auditor most likely perform to obtain evidence about the…

A: Subsequent events: Those events which occur between the date of financial statements and the audit…

Q: Which of the following audit approaches is most likely to provide an auditor the most confidence in…

A: The analytical approach is adopted by the company in order to assure that at the end of the…

Q: An audit engagement letter should normally include which of the following matters of agreement…

A: Engagement Letter:   Engagement letter is a type of a contract that is prepared when a new client…

Q: Generally accepted auditing standards (the performance principle) require auditors to gather…

A:

Q: Which two of the following statements regarding the use of analytical procedures of the audit are…

A: Analytical procedures are done by the auditor at the planning stage of audit to assess different…

Q: Identify the primary audit objectives that auditors hope to accomplish by confirming a client's…

A: The customer has a legal obligation to repay the loan, accounts receivable are reported as assets on…

Q: The external auditor should fulfill several performance responsibilities in order to obtain…

A: Audit = Auidit is external examination of Books of Account to check whether the financial statements…

Q: Select from the following the main object of an audit. a. Expression of expert opinion b. Detection…

A: Audit means checking and verifying the authenticity of financial statements by examining them. It…

Q: Please explain the audit process in detail, paying particular attention to the audit plan's notion…

A: The audit process refers to the audit company or auditors' audit engagement on the client's…

Q: Audit situations 1 through 10 present various independent factual situations an auditor might…

A: At the time of auditing financial statements, auditor will check all analysis in detail and then can…

Q: Analytical procedures are required as a part of the:     Internal control assessment.     Detailed…

A: Analytical methods are a form of evidence that may be utilized in an audit. Analytical processes…

Q: When auditing the accounts receivable account on the balance sheet, an auditor’s procedures most…

A: Accounts receivables include those consumers or firms which have not paid the amount to the…

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: In connection with the planning phase of an audit engagement, which of the following statements is…

A: Planning of Audit Engagement: An agreement between an auditor and a client in which the auditor…

Q: Please discuss the audit process focusing on the concept of materiality in the audit plan,…

A: The audit process means the process of audit engagement performed by the audit firm or…

Q: Discuss the objective of analytical procedures used in the overall review stage of the audit.

A: Analytical procedures are one of the two types of substantive audit procedures. They evaluate the…

Q: In a financial statement audit, the auditor obtains a reasonable level of assurance about whether…

A: The auditor's duty is to provide a reasonable assurance of whether financial statements are free…

Q: What should occur if the audit report has already been issued and the auditor becomes aware of a…

A: According to IAS 10, Subsequent events are the events that occur after the financial statement dates…

Q: 1. Which of the following is a principle underlying an audit conducted in accordance with generally…

A: Generally Accepted Auditing Standards provide a measure of a good quality audit with the aim of…

Q: Which of the following documents would be the most reliable evidence for an audit? Group of answer…

A: Reliable evidence: It implies to the evidence that has been obtained from a reliable and independent…

Q: Auditors perform analytical procedures in the planning stage of an audit for the purpose ofa.…

A: Auditing is a process of examining the financial statement and internal control of an organisation.…