Which of the following is ordinarily performed last in the audit examination?a. Securing a signed engagement letter from the client.b. Performing tests of controls.c. Performing a review for subsequent events.d. Obtaining signed written representations.

Q: Maintaining an unbiased attitude during the audit illustrates: Select one: a. Client…

A: The auditor  should  maintain integrity, professionalism skepticism, professional competence,due…

Q: Which of the following BEST (select one) describes the purpose of the audit work program? a) To…

A: Audit refers to verifying balances of financial statements of a organization by using proper…

Q: In performing a risk-based audit, when developing audit recommendations, the IT auditor should: a)…

A: A risk-based audit is one that priorities and assesses risks in order to identify the organisational…

Q: What should an auditor do prior to accepting an audit engagement?

A:

Q: To test the operating effectiveness of a control, an audit team might use a combination ofeach of…

A: Internal control: It can be defined as a system that includes the policies, rules, and procedures…

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: During an audit, the internal auditor should consider the following factor(s) in determining the…

A: Audit procedures are the techniques, processes, and methods that auditors use to obtain reliable…

Q: What is meant by the term 'analytical procedures' and Describe the situations in the audit when…

A: Analytical procedures refer to the evaluation of financial information made by studying plausible…

Q: auditor obtains sufficient understanding of the internal control structure

A: Auditing is done to verify whether the underlying financial statements show true and fair view of…

Q: When planning the audit of internal controls for an issuer, the audit team shoulda. Identify…

A: Internal control is a mechanism or procedure that the company implements so that the integrity of…

Q: To obtain an understanding of a continuing client in planning an audit, an auditor most liky would;…

A: To build an audit, the question centers on the most likely approach an auditor will use to…

Q: Must all observations identified by an internal audit team during an assurance engagement be acted…

A: Internal auditing is an unbiased, impartial assurance and consultation process intended to enhance…

Q: Defining what lapping is and how it might be discovered by an auditor is the first step. The auditor…

A: Lapping is a fraudster activity in which one persons money is recorded as payment received from…

Q: What is done in the post-audit?

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

Q: Why deos the auditor obtain an understanding of the clients business, enviroment and related risk of…

A: Obtaining an understanding of the client’s business is key to an effective and efficient audit.…

Q: An audit program is usually prepared after establishing the audit strategy and developing the audit…

A: An audit program refers to the audit plan which is the plan that is documented with the procedures…

Q: Explain how analytical procedures are useful in: (1) The risk assessment stage of the audit. (2) The…

A: As per standards on auditing (SA) 520 “Analytical Procedures“, The term “analytical procedures” mean…