A CAM should be included in the report if ita.Focuses on matters involving challenging, subjective, or complex auditor judgment.b.Is based on dollar amounts objectively determined and supported by evidence deemed appropriate by the CPA.c.Refers to standards of both the AICPA and the PCAOB.d.Refers to the predecessor CPA not re-issuing the audit opinion on the previous financial statements.e.Focuses on the combination of the audit of the financial statements and the audit of the internal control effectiveness.

Audit is an independent examination of financial statements which was conducted to express an…

CAM should be included in the report if it a. Focuses on matters involving challenging, subjective, or complex auditor judgment. b. Is based on dollar amounts objectively determined and supported by evidence

CAM should be included in the report if it a. Focuses on matters involving challenging, subjective, or complex auditor judgment. b. Is based on dollar amounts objectively determined and supported by evidence

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

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

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

Chapter15: Audit Reports For Financial Statement Audits

Section: Chapter Questions

Problem 20CYBK

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Question

A CAM should be included in the report if it

Focuses on matters involving challenging, subjective, or complex auditor judgment.

Is based on dollar amounts objectively determined and supported by evidence deemed appropriate by the CPA.

Refers to standards of both the AICPA and the PCAOB.

Refers to the predecessor CPA not re-issuing the audit opinion on the previous financial statements.

Focuses on the combination of the audit of the financial statements and the audit of the internal control effectiveness.

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ISBN:

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