Distinguish between internal documentation and external documentation as types of audit evidence. Give two examples of each. Which type is considered more reliable

Q: pes of audit confir

A: An audit confirmation is a common test that is performed in the completion of most audits. ... This…

Q: three main factors affecting acceptance audit risk.

A: Audit Risk : It is the risk that auditor may express inappropriate/un modified opinion on financial…

Q: what each type of audit opinion means?

A: Audit - The audit is the independent examination of the financial aspects of the company. To obtain…

Q: What is the difference of Internal Audit from External Audit?

A: Lets start with the basics. Audit is a examination of the books of account of the organization.…

Q: Differentiate between tests of controls and substantive testing and the relationship between the two…

A:

Q: What is directional testing? How does directional testing relateto the appropriateness of audit…

A: Auditing means the process in which the books of the company are audited by a person. The person…

Q: Discuss how the process of obtaining IT audit evidence is inherently different than it is in a…

A:

Q: what is Advantages of the Standard Audit

A: Standard audit The audit conducted based on Generally Accepted Accounting Standards that are issued…

Q: Is the audit opinion applicable to the "other information" as well? *

A: Auditing: The official verification and scrutiny of financial statements is known as auditing. The…

Q: Evaluating data reliability is a critical part of the audit process. Explain the differences among…

A: Internal data is internal to the company as the name suggests. It gives an insight on company's…

Q: Discuss how the process of getting IT audit evidence differs fundamentally from the method of…

A: Audit Evidence: Audit evidence is the proof in the form of receipts, invoices andother documents…

Q: Discuss different types of audit risks.

A: Audit risks refer to the various factors that may affect the accuracy and reliability of financial…

Q: How to Determine Materiality in Audit?

A: solution concept materiality means the amount or figure that is able to affect the judgement or…

Q: Explain audit risk and its components by providing TWO (2) examples for each component of the audit…

A: Solution- Audit risk is the risk that auditors issued the incorrect audit opinion to the audited…

Q: Discuss how the process of obtaining audit evidence in a CBIS is inherently different than in a…

A: Audit Evidence: Audit evidence is the proof in the form of receipts, invoice and other documents…

Q: Explain the characteristics of audit documentation should possess.

A: 1. Completeness: Audit documentation should contain sufficient information to support the…

Q: Define the audit risk model and explain each term in the model.Also describe which two factors of…

A: As follows, the audit risk model:

Q: What is the purpose of dual dating the auditor’s report?

A:

Q: Identify the differences between internal audit and external audit

A: Audit is an independent examination of books of accounts and records of an entity. Size of the…

Q: How does the quality of audit evidence vary depending on who has provided it?

A: Audit evidence is primarily the data and accounts of the client and its associated third parties,…

Q: Internal documentation and external documentation are two sorts of audit evidence that should be…

A: Internal documentation consists of the following: Internal documentation is created inside a…

Q: What are the characteristics of a confirmation? Distinguish betweena confirmation and external…

A: Auditing: The process of critical examination and evaluation of the accounting information recorded…

Q: audits possess the same general characteristics

A: Audit is a process of verifying the authenticity of information conveyed by financial statements of…

Q: What are the similarities between internal and external audit

A: Audit is an official financial inspection of an organization's account, usually by an independent…

Q: An audit process is a way of describing what it means to conduct an audit. Is there a reason why…

A: This question explains aboutan audit process is a way of describing  to conduct an audit.

Q: The auditing assesses the reliability and sufficiency of the information through _____________ a.…

A: The auditing assesses the reliability and sufficiency of the information through _____________ .

Q: Differentiate Internal Audit from External Audit.

A: Auditing refers to checking books of documents with an intention to express a reasonable opinion on…

Q: ditors to have a basic knowledge of various bsuin

A: An internal auditor is an employee of the company, whose work is to check the financial records of…