The uniformity of the procedures and conditions related to administering tests is referred  to as objectivity norm standardization reliability

Q: Discuss the differences between the attest function and assurance services.

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: How is Parallel Simulation utilized during an audit?

A: Auditing:   It is the systematic verification of the books of accounts of an organisation by an…

Q: What is the difference between Test of controls and Substantive procedures, give an example of each…

A: An audit assesses the integrity of a company's financial statements as well as the efficacy of its…

Q: n audit procedure designed to evaluate the operating effectiveness of controls in preventing or…

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

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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: Explain implementation and maintenance of adequate internal controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

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…

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Q: quality auditing

A: Quality audit is the examination of books of accounts of the company by internal auditor and…

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: Describe how the nature of evidence used to evaluate the control environment differs from the nature…

A: ANSWER:- For many control activities, documentation of their performance is more objectively…

Q: explain the relationship between hedging and measuring exposure.

A: Hedging is basically a type of risk management strategy through risk can be reduced significantly…

Q: What are the two primary ways to conduct substantive tests? Explain how the tests are different.

A: Substantive testing: Substantive testing is the last phase of auditing process where an auditor…

Q: define ethics and ethical delima in Auditing

A: Ethics In Auditing: An inspection or assessment of procedures or systems to determine whether or not…

Q: How can you explain the difference and connection of the Test of Controls and Substantive Testing

A: Both are further audit procedures

Q: What is the primary requirement for audit workpapers besides being written?

A: Audit work-papers are the outcome of the documentation process. These are the evidence and documents…

Q: When inspecting records and documents as a sort of evidence, make a distinction between vouching and…

A: Introduction: Documentary proof or vouchers, such as invoices, debit and credit notes, statements,…

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

A: There are two types of substantive procedures -

Q: prostulates of auditing

A: An independent assessment of any organization's financial information is referred to as auditing.…

Q: Discuss the difference categories of audit procedure and how they are being categorized

A: Audit procedures are those processes or policies which are used by auditors for checking and…

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: Differentiate between the techniques of vouching and verification.

A: The main objective of verification shows how assets and liabilities are valued properly. To…

Q: What are the types of audit procedures used during substantive testing, briefly explain them.

A: Substantive testing is indeed an auditing method that looks for mistakes in financial statements and…

Q: Subject: internal auditing - needs to perform control testing

A: Introduction: Auditors have a wide range of instruments at their disposal while doing an audit for a…

Q: Define and describe auditsampling for exception rates

A: Audit sampling: Audit sampling can be defined as the selection of items from a population to be used…

Q: How to auditor detect kiting

A: Kiting is one the activities which is done by businesses so that the position can be shown…

Q: Define control risk and explain the role of control risk assessment in audit planning.

A: Three types of risks in auditing: Inherent Risk Control Risk Detection Risk Control Risk: It is…

Q: ne independence and objectivity as it relates to internal audit functi

A: The internal audit function refers to the process of asses the internal functions of a company as…

Q: What are some pros and cons of the CERES CSR reporting framework i.e. the measure tools, reporting…

A: CERES CSR defines the corporate social responsibility of companies and their resultant action…

Q: The following are qualitative characteristics of presentation, except O Uniformity O…

A: Uniformity- It is the quality of being homogeneous.  Understandability-The information must be…

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…