Based on Sarbanes-Oxley, who is ultimately responsible for the independence of the external auditor? (In your response, identify all of the requirements placed upon the Audit Committee by Sarbanes-Oxley, and why you think the Act placed these responsibilities with this group).

Q: In determining the operating effectiveness of the internal control policy or procedure, the auditor…

A: The internal controls refer to the mechanism implemented in the organization to ensure that the…

Q: Audit firms are expected to establish and maintain a system of quality control. PCAOB inspections…

A: A firm must establish and maintain a system of quality control . The firm 's system of quality…

Q: (ANSWER IN PARAGRAPH FORM) What are the most effective tools and techniques used in auditing IT…

A: In a CIS (Computer Information System) environment, IT-related risks must be identified and…

Q: Practice question:

A: ANSWER No, I disagree with the statement that ''Having competent technical talents and capabilities…

Q: Recommendations should be included in final audit communications to: Group of answer choices Ensure…

A: Recommendations should be included in final audit communications to Provide management with options…

Q: When testing IT controls, which of the following BEST (select one) describes the IT auditor's focus:…

A: IT controls audit is the process of evaluating an organization's IT controls to determine their…

Q: Discuss the relationship between quality control and generally accepted auditing standards.

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: Professional Guidance. A challenge facing auditors is the wide array of professional guidance…

A: Statements on Auditing Standards:  The statements issued by auditing standards board of AICPA for…

Q: An auditor can receive one of three types of report from a Service Organizations when providing…

A: SOC 2 reports are issued by auditors regarding controls in service organisations

Q: When testing IT controls, which of the following BEST (select one) describes the IT auditor's…

A: IT controls audit is the process of evaluating an organization's IT controls to determine their…

Q: IT audit standards of practice require that IT auditors: [SELECT ALL THAT APPLY] a) Must exercise…

A: IT audit standards are a set of guidelines and best practices that IT auditors should follow to…

Q: Performance Principle. Identify how each of the following statements relates to the performance…

A: Performance Principle The guiding principle known as the performance principle defines the general…

Q: When an auditor is planning an audit, the auditor should:   Consider whether the extent of…

A: Audit: It is a systematic examination of books of accounts of an individual or a firm. It is done by…

Q: If control risk is assessed at the maximum, the auditor is required to obta knowledge about the:…

A: Lets understand the basics.Control risk is a risk which arise due to failing of control mechanism of…

Q: 1. What are the evidence garthering techniques Used in Information System Auditing by Internat…

A: 1. Evidence Gathering Techniques Used in Information System Auditing by Internal Auditors:Internal…

Q: According to the professional standards of practice, Internal Auditors demonstrate due professional…

A: Actions that adhere to moral norms and conduct guidelines are referred to as ethical behavior.…

Q: The internal audit risk assessment process:

A: It refers to the systematic and recurring process for evaluating and identifying events that affect…

Q: How are the substantive procedures performed by the audit team related to the objective of MUS?

A: