Why is an independent audit committee important to a company?

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A: The End product of an Audit is a report expressing the Auditor's Opinion on the client's financial…

Q: What responsibility would internal auditing go under? managerial accounting, tax accounting or…

A: There are different branch of accounting that help in the recording of transactions and analysis of…

Q: What do the ASX Corporate Governance Principles say about having an internal audit function?

A: Internal audit is the auditing process of the internal processes of a company such as accounting,…

Q: Given this, is the audit committee all that it is made out to be or is there still a case for the…

A: An audit committee is a subcommittee of the governing body of an entity, concerned with the quality…

Q: Describe the nature of activities that internal auditors do.How important is internal audit to a…

A: An internal auditor is a person who provides how accurately the financial statements of a company…

Q: How does an audit enhance the quality of financial statements and management’s reports on internal…

A: The requirement that corporations' financial accounts be audited by an impartial external auditor…

Q: What is management’s responsibility for reporting on internal control over financial reporting?

A: Internal control is a mechanism or procedure that the company implements so that the integrity of…

Q: Does an audit guarantee a fair presentation of a company’s financial statements

A: Audit is defined as an inspection or examination of an organization’s books of accounts; by an…

Q: Describe the audit documentation review process in a public accounting firm.

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Q: What is the auditor’s responsibility for obtaining anunderstanding of internal control? How does…

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Q: Why audits of our company performed by different auditors (internal, external, government). ?

A: Auditing is the process of examining the financial statements of the company to check for the…

Q: What is/are the possible collaboration/s among the Audit Committee, accounting external auditors,…

A: An external audit represents an unbiased examination of the financial statement prepared by the…

Q: Explain the role of audit report in company.

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

Q: Which regulatory body sets auditing standards for private companies, and also established the…

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Q: How do ‘audits’ work as a corporate governance mechanism

A: Introduction: An audit is an examination or audit by an auditor of various books of accounts,…

Q: A public accounting firm's audit documentation review has what advantages?

A: Introduction: Audit documentation encompasses all forms of documents or records created by auditors,…

Q: Audit committee activities and responsibilities includewhich of the following?a. Selecting the…

A: Audit is the process of checking and verifying books of accounts in order to check authenticity and…

Q: Can you give me interview questions about internal control of a company?

A: Internal Control:   Internal control, as defined by accounting and auditing, is a process for…

Q: o obtain an independent audit and what is the purpose of the Audit Report?

A: Introduction to Independent audit : An independent audit is an audit that is conducted for the…

Q: As an internal audit explain how you applied it in your company?

A: In order to evaluate the true and fair financial position of the company, an internal auditor is…

Q: Why should multinational companies be concerned about auditing issues? Think about this in the…

A: Auditor- An auditor is a specialist who examines and verifies the accuracy of financial papers in…

Q: What is the audit committee’s contribution to strategy?

A: An audit committee is a committee which looks after, directs and guides for the financial process,…

Q: Who is responsible for establishing auditing standards foraudits of U.S. public companies? Who is…

A: Public Company Accounting Oversight Board (PCAOB) which oversees the audit of public companies is…

Q: What is the SEC’s relationship to the Public Company Accounting Oversight Board?

A: The Sarbanes-Oxley Act created the Public Company Accounting Oversight Board to supervise the…

Q: ritique the following claim: External auditors independence would be strengthened if company…

A: Auditor is a person who is entrusted to verify the accuracy of records and authorised to review the…

Q: What is an Audit Committee? How do they Operate and interact with the Auditors?

A: An audit committee is one of the major operating committees of a company's board of directors that…

Q: Distinguish between business failure and audit risk. Why is businessfailure a concern to auditors?

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

Q: what is the role of an audit director in ensuring good corporate governance of a multinational…

A: Corporate governance is defined as the systems of processes, rules and practices through which the…

Q: firms must audit their resources at the corporate level

A: Resources are the available economic items of the firm with which it can operate business.

Q: What role does the auditor play in gaining a knowledge of internal control? What is the difference…

A: Before completing audit processes, the auditor is responsible for knowing the organization's…

Q: What is operational auditing? How does the AICPA (American Institute of Certified Public…

A: Operational Auditing:  The process by which effectiveness and efficiency of business operations are…

Q: Explain the factors to be considered in planning of an audit in a company

A: Audit planning is a major part of audit works for both internal and external audits. A good audit…

Q: For a corporation in an industry with fewer rules, which of the following control goals in the…

A: The purpose of adopting Auditing procedures which are important to the Auditing work which has to be…

Q: What is business risk? and How does it affect audit risk?

A: Business Risk: Business risks are elements which have an adverse effect on the performance and…

Q: What is meant by fundamental analysis? What type of information is disclosed in fundamental analysis…

A: Fundamental analysis is the establishment of the fair market value of the company's stock. This is…

Q: What influences the materiality of the company being audited?

A: The audit relies heavily on the criterion of materiality. Auditors use it throughout the preparation…

Q: Assess the economic significance and limitations of audit work to business and investor interests,…

A: Ans. Their are various significance of auditing in a business. Though it comes with few limitations…

Q: the role of the Chief Audit Executive?

A: A chief audit executive or the head of the internal audit function in a company is a staff from the…