What is the objective of Statement on Auditing Standards No. 99?

Q: What are the Generally Accepted Auditing Standards? List and briefly explain them.

A: GAAS (Generally Accepted Auditing Standards) is indeed a set of standardized rules used among…

Q: Describe the audits and auditors ingovernmental, internal, and operationalauditing.

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: What is operational auditing? How does the AICPA view operational auditing?

A:

Q: Who should be members of the Audit Committee? Is there an association between Audit committee…

A: The monetary Regulation/Peraturan "Utilization controller Firms/Kantor Akuntan Publik (KAP) in…

Q: Discuss with examples, what are substantive audit procedures.

A: Substantive procedures are audit exams or methods by which products by an auditor to evaluate the…

Q: Who created the International Auditing Standards?

A:

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: what each type of audit opinion means?

A: Audit - The audit is the independent examination of the financial aspects of the company. To obtain…

Q: hat are the factors upon which reliable and relevant audit evidence depends o

A: Information that backs up and corroborates management's financial statement declarations or internal…

Q: According to IAASB what are the functions of an external audit?

A: IAASB is an independent body that sets the standards for auditing practices, quality control,…

Q: How do IAASB audit standards compare to US audit standards?

A: The International Auditing and Assurance Standards Board (IAASB) is an entity which sets standards…

Q: In the auditor's current audit documentation files, what is regarded to be the most significant…

A: Right now, we're working on the following documents: The term "current files" refers to collecting…

Q: Which of the following is an authoritative body that the AICPA Code of Professional Conduct…

A: PCAOB ( PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD ):  PCAOB OVERSEE AUDIT OF PUBLIC COMPANIES IN…

Q: Describe the ASB's Clarity Project. Why is this so important for the auditing profession?

A: Auditing Standard Board (ASB) is a board which issues guidelines and rule pronouncements that need…

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: ctiveness and audi

A: Given: To explain the association of audit committee effectiveness and quality after adoption of…

Q: What is vouching? Discuss its importance in auditing.

A: Voching is the  backbone  of auditing

Q: What should an auditor understand with respect to Information and Communication on an audit?

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

Q: What is an audit, and how does it add to the integrity ofaccounting information?

A: A financial statement displays the financial information regarding an entity. The presented…

Q: What is considered the most important content of the auditor’s current audit documentation files?

A: The audit staff working on the engagement prepare an audit scheme according to the audit procedures…

Q: Standardize auditing procedures by identifying industry consensus (GAAS). What's the point of GAAS,…

A: The Question deals with standardize auditing procedures by identifying industry consensus (GAAS):

Q: how key audit matters affect the model of the audit report?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: Explain the purpose of an audit and describe the content of the audit report.

A: The purpose of audit refers is basically to provide examination of financial statements, increasing…

Q: Introduce and explain the principles of independence and objectivity, and explain how they apply to…

A: Principle of INDEPENDENCE -  This principle states that the auditor should perform independently…

Q: What is the purpose of an audit strategy memorandum? What information should it contain?

A: Audit Strategy Memorandum: After the calculation of all financial statement risks, identification…

Q: Provide the objectives for a successful audit program according to ISO9001:2015

A: An audit program according to ISO 9001:2015 is the one which involves commitments, responsibility…

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 of the following categories of principles is most closely related to gathering audit…

A:

Q: Identify the drivers of audit quality as specified by the Financial Reporting Council's Audit…

A: Audit Quality Driver: The Drivers of Audit Quality enable  audit firms to deliver quality audits…

Q: What is the difference between an external audit engagement and a Review Engagement, please explain.

A: External audit engagement and a Review Engagement will be explained:

Q: Discuss why we have a dual system of auditing standards in the U.S. (AICPA Auditing Standards…

A: Introduction:  AICPA is a association for the certified public accountants (a professional members…

Q: Which of the following is the objective of ISA 700? O a. To form a decision on management report O…

A: This ISA 700 addresses the issues that an auditor must consider when providing an opinion on a…

Q: g the appropriateness of audit evidence

A: Option B is wrong because the statement is correct regarding the appropriateness of the audit…

Q: What should be included in an audit engagement agreement?

A: Engagement agreement: Engagement agreement is a type of a contract that is prepared when a new…

Q: Explain the relationship betweenaudit objectives and theaccumulation of audit evidence.

A: Auditing: Auditing is defined as the independent verification and examination of the financial…

Q: Why is it necessary to evaluate the attributes of audit evidence? Explain

A: The information gathered by an auditor to determine the correctness and conformity of a…

Q: IAASB defines the role of an external audit as follo

A: Answer: Concept IAASB is board of International Auditing and Assurance Standards Board. They issues…

Q: By type, timeliness, and scope of additional audit processes, what do we mean

A: Here's how it's done. Auditors use audit processes to test the accuracy and completeness of the…

Q: How does a very material GAAP issue affect the Audit Report?

A: Audit opinions are the opinions given by the auditor about the financial statements. There are…

Q: distinguish between audit, attest, and assurance services. What is GAAS? Which agency is responsible…

A: The shareholders or investors or management have a keen interest in the organization mainly the…

Q: Define generally accepted auditing standards (GAAS). What is the purpose of GAAS?

A: The explanation is provided as follows: