After completing and documenting the ADA procedures, the auditor evaluates the audit evidence obtained and develops a conclusion based on the audit evidence. Indicate what the conclusion relates to. a. ADA procedures utilized. b. Relevance and reliability of audit evidence. c. Specific phase of audit where ADA utilized. d. Completeness of audit evidence.

After completing and documenting the ADA procedures, the auditor evaluates the audit evidence obtained and develops a conclusion based on the audit evidence. Indicate what the conclusion relates to. a. ADA procedures utilized. b. Relevance and reliability of audit evidence. c. Specific phase of audit where ADA utilized. d. Completeness of audit evidence.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter6: A Framework For Audit Evidence

Section: Chapter Questions

Problem 21MCQ

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Which of the following is the major purpose of performing analytical procedures in internal audits? a. To perform additional audit procedures. b. To plan the audit engagement. c. To obtain audit evidence. d. To study relationships among elements of information.
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An Auditor must perform audit procedures in order to obtain sufficient appropriate audit evidence before issuing a audit report.Discuss what substantive audit procedures are giving examples.
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The auditor should consider audit risk when planning and performing an audit of financial statements. Audit risk should also be considered together in determining the nature, timing, and extent of auditing procedures and in evaluating the results of those procedures. Required: a. Define audit risk b. Describe the components of audit risk (e.g., inherent risk, control risk, and detection risk). c. Explain how these components are interrelated