EBK AUDITING+ASSURANCE SERVICES
EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
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Chapter 8, Problem 26.3MCQ
To determine

Identify the correct option for the given statement.

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Audit standards require auditors to _______. conduct specific audit procedures to identify subsequent events that may occur up through the date of the auditor’s report conduct specific audit procedures to identify subsequent events that may occur after the date of the auditor’s report. apply optional use of analytical procedures to increase assurance levels related to subsequent events delegate auditing of subsequent events to the internal audit function   A compilation engagement is _______. an audit of the financial statements, whereby an auditor expresses an opinion on the financial statements an audit of the system of internal control, whereby an auditor expresses an opinion on the system of internal control when an accounting firm assists management in the presentation of financial statements but does not audit, review, nor provide assurance as to whether the financial statements are presented fairly. when an audit firm assists management in the presentation of financial…
Which of the following best describes the role of analytical procedures near the end of theaudit engagement?a. To identify possible deficiencies in the client’s internal control over financial reporting.b. To identify accounts that appear to be misstated with the intention of planning thenature, timing, and extent of other substantive procedures.c. To gather evidence to support one or more assertion(s) related to the account balance orclass of transactions.d. To provide an overall review of the financial information and assessment of the adequacy of evidence gathered during the audit engagement.
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