{Auditing} 21. The scope of an audit is the determination of the range of the activities and the period of records that are to be subjected to an audit examination". Which one of the following factors is not useful in determination of scope of audit? a. Reliable information b. Technical factors c. Entity aspects d. Legal requirement

{Auditing} 21. The scope of an audit is the determination of the range of the activities and the period of records that are to be subjected to an audit examination". Which one of the following factors is not useful in determination of scope of audit? a. Reliable information b. Technical factors c. Entity aspects d. Legal requirement

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Audit procedures are the processes, techniques, and methods that auditors perform to obtain audit evidence, and includes: O a. Risk assessment procedures; Test of Controls; Substantive procedures O b. Test of Controls only O c. Substantive procedures & Test of controls O d. Risk assessment procedures only
The following are procedures to obtain audit evidence except: a. Physical examination. b. Organization. c. Confirmation. d. Analytical procedures.
3 Which of the following is not one of the tasks undertaken during the phase of the audit? A) Understand internal control B) Asses the risk of material misstatement C) Develop preliminary audit strategies 4021
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19. An auditor conducting an audit in accordance with ______________is responsible for obtaining reasonable assurance that the financial statements taken as a whole are free from material misstatement, whether caused by fraud or error. a. ISAs b. None of the options c. IFRS d. IAS
Please use own sentences
22-What may be the possible purpose of using oral explanation in the audit documentation? O a. To assist conclusion reached by the auditor O b. To clarify information contained in audit documentation O c. All of the options O d. To support the work performed by the auditor
Which part (paragraph) of the audit report appears first, according to new (ISA) auditing standards A. Opinion paragraph B. Scope paragraph C. Basis of opinion D. Key audit matters
How the relevancy deals in the information to be used as an Audit Evidence? O a. Audit evidence in document form is more relevant O b. Logical connection between purpose of the audit procedure and the assertion under consideration O . Relevancy is increased when obtained from dependent sources O d. Confirmation from the third parties
Which of the following is correct about audit opinion? a. It does not assure the future viability of the entity b. It does not assure about the audit procedures c. It does assure the future viability of the entity d. It does assure the efficiency of the management
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"Other information" is a term that has been used in the audit opinion. An explanation is needed.