The user auditor is required to obtain a sufficient understanding of the nature and significance of the services provided by the service organisation and their effect on the user entities internal control relevant to the audit. From which source(s) might this understanding be obtained? A) the user entity B) a type 1 service auditors report C) a type 2 service auditors report D) all of the above answers

Q: Direction:  summarize the concept of the following audit considerations. 1. Competence 2. Laws and…

A: Audit considerations are the factors to be considered by the auditor while conducting audit. This is…

Q: Compare and contrast the work of an internal auditor and an independent external auditor.

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Q: No. 2. What are the similarities and differences between external auditors and internal auditors

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Q: subcontracted by the client, specifically in what corresponds to criteria of security, availability,…

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Q: What are considerations you will observe in evaluating the internal control of an audit engagement?…

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Q: Identify the type of evidence the auditor would gather in assessing the integrity of management?…

A: Auditor is the person who is responsible for auditing and verifying books of accounts and records of…

Q: According to IAASB what are the functions of an external audit?

A: IAASB is an independent body that sets the standards for auditing practices, quality control,…

Q: What does it mean the audit documentation should be self-explanatory? O a. It shall be sufficient to…

A: An audit is a process of checking and verifying the books of account and financial information of…

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: The scope of an audit includes: a. Reliable Information b. Legal Requirements c. Entity Aspects d.…

A: The detailed examination of accounting statements of any entity by an independent auditor  is…

Q: models available to organisations for outsourcing internal audit ; Internal audit/ benefits of audit…

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Q: Explain the audit objectives of existence or occurence, completeness, rights and obligations,…

A: objectives of Audit Audit means the audit of information system of an organization to check the…

Q: Which of the following type of auditors reviews the routine activities and provide suggestion for…

A: Routine activities are those activities which are carried out by the organization on daily basis.…

Q: The Performance Principle in AICPA auditing standards requires the auditor to obtain a sufficient…

A: An auditor is a person who checks the financial statements of the company. An auditor checks the…

Q: Which of the following is not a scope of internal auditors? Efficient Use of Resources Services to…

A: The scope of internal audit means the range of activities and records which can be subjected to…

Q: The particular and specialized actions that auditors take to obtain evidence during a specific…

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Q: auditor obtains sufficient understanding of the internal control structure

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Q: What are the three potential tools available to auditors for documenting their understanding of a…

A: The auditor checks the accuracy level in the financial reporting of one entity.

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: The auditor should review information provided by those charged with governance and management…

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Q: Describe what is generally contained in a service auditor report

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Q: The steps in planning an audit includes obtaining an understanding of the entity and its environment…

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Q: Distinguish between client-imposed scope limitations and circumstance-imposed scope limitations.…

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Q: A document which the auditor receives from client ,but which was prepared by someone outside the…

A: Auditing is the process of examination or verification of books of accounts of the business in order…

Q: Define a scope limitation and distinguish between client-imposed and circumstance-imposed scope…

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Q: Identify information that auditors are required to communicate to individuals charged with…

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Q: Introduce and explain the principles of independence and objectivity, and explain how they apply to…

A: Principle of INDEPENDENCE -  This principle states that the auditor should perform independently…

Q: Discuss the types of internal controls and explain how each is important to the auditing process.…

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Q: Which of the following documents or/ and procedures should be used by the auditor to gain a better…

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Q: The auditor's assessment of the reliability and sufficiency of the information contained in the…

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Q: Define Institute of Internal Auditors.

A: The Institute of Internal Auditors was established in 1941, the Institute of Internal Auditors…

Q: n planning an audit?

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Q: Which of the following type of auditors provide an opinion on the effectiveness of the operational…

A: Audit definition -  Audit is an independent examination of financial information of an entity…

Q: Answer the below: What do you understand by attestation services? Discuss the responsibility and…

A: Attestation Services:-These are services when a certified Public Accountant (CPA) expresses his…

Q: llows an auditor to perform w

A: As per the AICPA code of conduct (PCAOB ), Which are guidelines issued for CPA ( Auditor) To follow…

Q: What are the three goals of an internal control system according to the COSO report? Which of…

A:

Q: Which of the following is not a scope of internal auditors? Efficient Use of Resources Should work…

A: Internal auditors are the professionals appointed by the businesses to ensure the operational…