Which of the following are the auditor's responsibilities when it comes to the financial stațements? 1. Giving an opinion as to their truth and fairness. 1, 3 and 4 only 1, 2 and 3 only 1 and 2 only 2 and 3 Only 2. Selecting and applying accounting policies. 3. Gathering evidence to support the opinion given. 4. Planning and conducting the audit.

Which of the following are the auditor's responsibilities when it comes to the financial stațements? 1. Giving an opinion as to their truth and fairness. 1, 3 and 4 only 1, 2 and 3 only 1 and 2 only 2 and 3 Only 2. Selecting and applying accounting policies. 3. Gathering evidence to support the opinion given. 4. Planning and conducting the audit.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Audit Procedures

Audit Procedures are methods and techniques performed by the auditor to determine the quality of financial information of clients, thereby expressing an opinion on true & fair view of financial statements and entity position. They are identified and applied at the planning stage of audit after determining audit objectives, scope, approach, and risk assessment.

Question

Which of the following are the auditor's responsibilities when it comes to the financial stațements?
1. Giving an opinion as to their truth and fairness.
1, 3 and 4 only
1, 2 and 3 only
1 and 2 only
2 and 3 Only
2. Selecting and applying accounting policies.
3. Gathering evidence to support the opinion given.
4. Planning and conducting the audit.

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Audit procedures for items of Financial Statement

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