Unless all TCWG are involved in managing the entity, the auditor shall communicate with TCWG events or conditions identified that may cast significant doubt on the entity's ability to continue as a going concern. Such communication with those charged with governance shall include the following: O a. The adequacy of related disclosures in the financial statements O b. Whether the events or conditions constitute a material uncertainty O c. Whether management's use of the going concern basis of accounting is appropriate in the preparation of the financial statements O d. All the options

Q: A fair presentation is achieved by compliance with applicable IFRSs. A fair presentation also…

A: The term fair presentation refers to the true presentation of the material facts in the books and…

Q: Under what state of affairs it implies that an auditor has obtained sufficient & appropriate audit…

A: Audit is the Independent examination of the Financial statement of the company

Q: S1: Non-assurance engagements include agreed-upon procedures, management consulting, and review of a…

A: Each statement shall be independently evaluated under the audit practices and framework.

Q: Question 36 The auditors include an emphasis-of-matter paragraph in report with an unmodified…

A: An auditor's opinion enhances the degree of confidence that intended users can place in the…

Q: 17. Which of the following is correct when a company is issuing summary financial statements…

A: Summary Financial Statement - Summary Financial Statement is the summary of entire financial…

Q: Which of the following are not the rights of the auditors? a) The right to all information and…

A: Option D none of the options given is the correct statement... All of the following are the rights…

Q: Operational auditing is primarily oriented toward:   a. Future improvements to accomplish the goals…

A: Operational Audit: The systematic review of all of an organization's activities or a part of the…

Q: Which of the following is NOT an obligation or duties of an auditor? a. Inspect account books and…

A: Helps to prepare the financial statements of companies is not an obligation or duties of an…

Q: The auditors are responsible for performing an independent audit of the financial statements and…

A: Audit is the scrutinizing of the records and reports of an entity so as to disclose a true view of…

Q: The major purposes of obtaining a client representation letter include:   Select one: a.  To…

A: The letter of representation is a letter drafted by the client to the auditor. This letter of…

Q: t kind of report must an auditor submit

A: Persuasive audit evidence enables the auditor to express audit opinion without confusions.

Q: If the company is subject to PCAOB obligations for communicating control shortcomings (AS 1305),…

A: SOLUTION-   COMMUNICATION ABOUT CONTROL SHORTCOMING- STANDARD O AUDITING OF 1305 DESCRIBES THE…

Q: If the company is subject to PCAOB rules involving disclosure of control shortcomings (AS 1305),…

A: This question explains about internal control over financial reporting

Q: 47-Which of the following are not the rights of the auditors? a) The right to all information and…

A: An audit is an examination of the financial statement by an auditor to check whether the financial…

Q: From the options given below identify the accounting data obtained by an auditor which are…

A: There are three types of audit opinions as follows: Unqualified opinion Qualified opinion Adverse…

Q: Which of the following statements is not true with respect to the  auditors' report on internal…

A: An audit report is crucial in order to determine the reliability of the financial reports of an…

Q: The primary purpose for obtaining an understanding of the entity’s environment (including its…

A: Definition: Auditing: Auditing is the process by which assertions made by management about financial…

Q: In accordance with ISA 315, the auditor shall identify and assess the risks of material misstatement…

A: ISA 315 -IDENTIFYING AND ASSESSING THE RISKS OF MATERIAL MISSTATEMENT THROUGH UNDERSTANDING…

Q: If a nonissuer wants an accountant to perform an examination of its internal controls, the…

A:

Q: 16. What is the purpose of information presented in notes to financial statements? a. To present…

A: Disclaimer:- Since you asked multiple question in one question, we will provide you the answer of…

Q: 10. The GAO standards of reporting for governmental financial audits incorporate the AICPA standards…

A: Reports on compliance with laws and regulations and internal control is a supplemental reporting…

Q: S1: PSA 700 requires a strict order of the elements of an independent auditor's report S2: All audit…

A: Solution: True,  PSA 700 requires a strict order of the elements of an independent auditor's report…

Q: If the financial statements have been prepared using the going concern basis of accounting but, in…

A: ISA 570- Going concern - The ISA deals with the auditor’s responsibilities relating to management’s…

Q: Which of the following is NOT an implication of Section 302 of SOX?a. Auditors must determine…

A: Answer: c. Corporate management (including the CEO) must certify monthly and annually their…

Q: 18-from the options given below identify which of the following is not responsibility of management…

A: Answer

Q: Which of the following matters relating to an entity’s operations would an auditor most likely…

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

Q: ned to afford a reasonable basis for the opinion regarding financial statements under audit.…

A: The auditor's responsibilities revolve around ensuring that financial statements are presented…

Q: s1: The heading "Report on Other Legal and Regulatory Requirements' is only appropriate for the…

A: Auditing - It is an examination of accounts to determine whether the financial statements provide a…

Q: not the rights of the auditors

A: The statements a, b, c and d are wrong because they are the rights of the auditors. For the purpose…

Q: Independent Auditor is responsible for preparing the financial statements, establishing and…

A: Auditor refers to an individual whose main frame of work is to conduct a physical examination of all…

Q: Scope Limitations. Situations in which auditors are unable to obtain sufficient appropriateevidence…

A: a.

Q: 11. Which of the following is an example of an assurance engagement providing limited assurance? A.…

A: Assurance Engagement:-It means it is an engagement where a practitioner expresses his or her opinion…

Q: s1: In the absence of significant information to the contrary, an entity is viewed as continuing in…

A: Solution: 1. True, In the absence of significant information to the contrary, an entity is viewed as…

Q: Question 25 When performing an audit of a public company, PCAOB standards do not require the…

A:

Q: Which of the following control objectives in the General Ledger activities under the…

A: Following are the options in which extensive audit procedures are required due to regulations: If…

Q: 13. When auditing an entity's financial statements in accordance with Government Auditing Standards…

A: When auditing an entity's financial statements in accordance with Government Auditing Standards (the…

Q: Question 4 The  auditor of a large public company has determined that a material weakness exists in…

A: Introduction:- A major failure in the client's internal controls over financial reporting has been…

Q: If the company is subject to PCAOB obligations involving notification of control shortcomings (AS…

A: Thi the company is subject to PCAOB obligations involving notification of control shortcomings (AS…

Q: 43-From the options given below find out the end result of entire audit process O a. Gather audit…

A: Audit process While conducting the Auditing work for the organisation there some process which…

Q: 25. Which of the following would not be included in an accountant's review report on the financial…

A: Accountant's Review Report - Accountant's Review report includes report on financial information,…

Q: If the auditor identifies any events or conditions that may cast significant doubt on the entity's…

A: Auditor is the person who is responsible for performing audit work in the organisation. Audit means…

Q: S1: After conducting an audit and release of the audit report, the primary responsibility on the…

A: S1: After conducting an audit and release of the audit report, the primary responsibility on the…

Q: If the entity is subject to PCAOB requirements regarding communication about control deficiencies(AS…

A: Communication about control deficiencies : Standard on Auditing of 1305 describes the communication…

Q: objective of auditing

A: Option a is wrong because determination of true and fair view of the financial position of an…

Q: 21)An audit engagement letter A.May not be prepared each period for a recurring audit engagement…

A: Answer: Solution Note : As per the Q&A guideline we are required to answer the first question…