2___________________ is an investigative step or technique where less than 100% of the total items within the population of items are selected to be audited.
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1B
2___________________ is an investigative step or technique where less than 100% of the total items within the population of items are selected to be audited.
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- 1C 3_____________________ is a set of accounts or transactions from which the auditor intends to draw a conclusion from it after sampling._____ means the application of audit procedures to less than 100% of the items within an account balance or class of transactions to enable the auditor to obtain and evaluate audit evidence. a. Inspection b. Observation c. Audit sampling d. Analytical Procedure3. Give two examples of analytical procedures available to an auditor: ________________ ________________
- 11. n the CCCER model, this is where the audit team or client addresses the problem identified while they do audit or operations refers to ___________. Group of answer choices Cause Criteria Recommendation Condition Effects1: The tick marks are usually placed after an amount, s2: The legend to identify the audit procedures are placed in the lower portion of the audit working papers. S3: There is no standard set of identifying a particular tick mark, A. all statements are true b. all statements are false c. s1 and s2 are true d. s1 and s3 are true10 Population is the set of accounts or transactions from which the auditor intends to draw a conclusion from Question 10 options: a) True b) False
- 9 Which of these audit evidence is more reliable for an auditor to use in gathering evidence than the other (pick one): Employee described process or direct knowledge of the process ___________________ External third party documents or internally provided documents ____________________ Copies of document or original documents ____________________Refer to Exhibit 2.5 and answer the following questions. a. (Sections 101, 104, and 105) How does the establishment and operation of the PCAOB help to ensure quality external audits? How will audit firm inspections and investigations by the PCAOB help ensure high audit quality? b. (Sections 201-203) How do Sections 201-203 address audit ()r independence concerns? c. (Section 206) What is a cooling-off period, and how does it address auditor independence concerns? d. (Section 301) How do the audit committee requirements help ensure effective corporate governance? e. (Sections 302 and 906) How do the officer certification requirements help to address the risk of fraud in publicly traded organizations? What is the likelihood that a CFO who is committing fraudulent financial reporting would sign the certification falsely, and what are your reactions to that possibility? f. (Section 401) How does this section relate to the Enron fraud? g. (Section 404) How do the management assessment and audit or attestation of internal controls contained in this section help to address the risk of fraud in publicly traded organizations? h. (Section 407) Why is it important that at least one member of the audit committee be a financial expert? What are the financial reporting implications if the audit committee does not have any individuals serving on it who possess financial expertise? i. (Section 802) How does this section relate to the Enron fraud?5. Which of these audit evidence is more reliable for an auditor to use in gathering evidence (pick one) than the other: Written documentation or oral documentation ____________________ 2.Copies of document or original document ____________________
- QUESTION 4 Which of the following strategies in implementing the Team's Initial Audit is associated with "Death by Workshop?" 1. Strategy A 2. Strategy B 3. Strategy C 4. Strategy D14. . To test for unsupported entries in the journals, the direction of audit testing should be to theSelect one:a. Journal entriesb. Ledger entriesc. Trial balanced. Original source documentsInstructions Rubric Instructions In not less than five sentences, choose ONE FS item and explain what kind of audit procedure the auditor should do to address its corresponding FS assertion.