The two ways to conduct substantive tests are substantive analytical procedures and tests of details. True False

Q: Distinguish between errors and irregularities. Which do you think concern auditors the most?

A:

Q: Circumstantial evidence

A: Correct Answer :- A Circumstantial Evidence

Q: What type of audit opinion is preferred when analyzing fi nancial statements? B . Adverse.

A: Audit opinions are the opinions given by the auditor about the financial statements.

Q: Inquiry and observation are applicable to gather evidence about a policy or procedures that does not…

A: Solution : Concept Inquiry               Inquiry as process of audit means the process of seeking…

Q: Which of the following statements is correct regarding detection risk and the audit risk model? OA.…

A: Audit risk is a tool for auditor to evaluate various risks may arise while performing an audit.…

Q: Explain the threats to professional skepticism that might influence audit judgment.

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

Q: Audit working papers are the property of the auditors, who may distort the papers, sell them, or…

A: An auditor is a person authorized to review and verify the accuracy of financial records and ensure…

Q: Substantive procedures consist of substantive analytical procedures and test of details. *

A: There are two types of substantive procedures -

Q: Explain the purpose of substantive testing and give examples of the main types of substantive tests.

A: Substantive Testing: Meaning: It is an audit procedure that helps examine the supporting documents…

Q: What type of situation would require an auditor to give an unmodified opinion without a standard…

A: If the auditor concludes that all the below conditions are met and the accounting changes is…

Q: statements about audit evidence is correct

A: First option is wrong because the statement is about relationship between audit objective and audit…

Q: Which of the following is correct about control risk? Select one:   a. None of the others b.…

A: Control risk is a component of audit risk, along with inherent risk and detection risk. It refers to…