a. Describe how professional skepticism will assist the auditor to perform the audit effectively. b. Discuss the matters to be considered on the auditor's responsibilities while preparing the independent auditor's report.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Q1

Answer for Question (a) and (b)

QUESTION 1
A. An audit is a complete and careful examination of selected financial records of a business
or person.
Required:
a. Describe how professional skepticism will assist the auditor to perform the audit
effectively.
b. Discuss the matters to be considered on the auditor's responsibilities while preparing the
independent auditor's report.
Transcribed Image Text:QUESTION 1 A. An audit is a complete and careful examination of selected financial records of a business or person. Required: a. Describe how professional skepticism will assist the auditor to perform the audit effectively. b. Discuss the matters to be considered on the auditor's responsibilities while preparing the independent auditor's report.
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