Which of the following statements is correct concerning an auditor's required communication with those charged with governance?

Q: S1: Regarding communications between auditors, the predecessor auditor has the duty to initiate…

A: Business organizations are required to audit their financial statements so as to ascertain their…

Q: With whom should the auditor communicate whenever he or she determines that fraud may be present,…

A: Auditor is the person examining the financial statements and reports of an entity to check if the…

Q: 3 types of misstatements

A: Misstatements are the under or over-statements of account balances or class of transactions…

Q: c) Which of the following is not an impact of SOX on auditors Multiple Choice a) Increased…

A: solution concept SOX Sarbanes Oxley Act is a act which aims at protecting the stakeholders of the…

Q: 12. When the auditor based on his understanding of internal control of the client concludes that the…

A: The auditor based on his understanding of internal control of the client concludes that the controls…

Q: Which one of the following statements is not included in the management representation letter…

A: The management representation letter is a document provided by the management of a company to the…

Q: If there is a matters that pose challenges to the auditor in obtaining appropriate audit evidence or…

A: Key audit matter are those matters that are from auditor's professional judgement need be given…

Q: au uditor’sreport.“

A: Part A Going concern is one of the major assumptions involved in a business and this is the issue…

Q: Recommendations should be included in final audit communications to: Group of answer choices Ensure…

A: Recommendations should be included in final audit communications to Provide management with options…

Q: The auditor shall communicate with those charged with governance an overall approach and scope of…

A: The auditor shall communicate with those charged with governance an overall approach and scope of…

Q: None

A: B) Compliance with relevant ethical requirements: It is the duty of auditors to make sure that they…

Q: When establishing an understanding with an audit client, that understanding should be documented

A: While a management representation letter is a key part of the audit process, it is not the only way…

Q: audit engagement

A: Statement 1 is correct because an audit engagement is opinion based. The auditor conducts the…

Q: multiple choice When an independent auditor decides that the work performed by internal auditors may…

A: An auditor is a professional who conducts an independent examination and evaluation of  fiscal…

Q: he auditor should document the overall audit strategy and the audit plan, including any significant…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS CORRECT ANSWER:  Statement of changes in equity WHILE…

Q: IT audit standards of practice require that IT auditors: [SELECT ALL THAT APPLY] a) Must exercise…

A: IT audit standards are a set of guidelines and best practices that IT auditors should follow to…

Q: Which of the following matters most likely would be included in a management representation letter…

A: A letter from a company's management to the auditor is known as a management representation letter.…

Q: determine if statement 1 and 2 are true or false 1 - The overall audit strategy sets the scope,…

A: 1 - The overall audit strategy sets the scope, timing, and direction of the audit, and guides the…

Q: The acceptable audit risk for the financial statements overall tends to be low and is set by the…

A: In auditing, setting the acceptable audit risk for financial statements is crucial for ensuring the…

Q: If recommendations are made to the audit report noted problems and weaknesses, written responses…

A: When recommendations are made to the audit report noted problems and weaknesses, written responses…

Q: QUESTION 2 The purpose and objective of an auditor is to form opinions on whether the operations of…

A: The objective of audit is to give opinions on financial statements deals with whether the financial…

Q: Wren, Inc., a nonpublic company, retains Ying and Company CPA to audit its financial statements and…

A: Audit Report : (1) In general, it is a report or a letter communicating to the members, Board of…

Q: If an analytical procedure performed, identify fluctuations or relationships that are inconsistent…

A: If an analytical procedure performed, identify fluctuations or relationships that are inconsistent…

Q: A service organizations has an auditor issue one of two types of reports on their operations: 1)…

A: Service organization It is organization which have not started for the sole purpose of making…

Q: financial statement audit is a matter of debate. Someargue that the existence of a DRP is irrelevant…

A: Enterprise continuity planning includes the whole organization, whereas disaster recovery…

Q: Auditor's report is often called Independent Auditor's Report. Why is independence important to the…

A: Auditor is the person whos is responsible for identifying the fraud and errors presented in the…

Q: matters are communicated to those charged with governance at the end of an audit

A: Third option is wrong because the expected modifications to the audit report are based on the…

Q: S1: The subsequent events period extends to the date of management representation letter and the…

A: To make sure that financial information is presented fairly and properly in compliance with the…

Q: Which of the following information should a successor auditor obtain during the inquiry of the…

A: Comment; We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: dit that was performed.’ Required: Discuss this statement in relation to the benefits and…

A: In 2015 the IAASB issued a variety of changes to auditor coverage, with the target of enhancing…

Q: Auditors can help avoid litigation by implementing policies and procedures that ensure all work is…

A: Auditors can help avoid litigation by implementing policies and procedures that ensure all work is…

Q: Which of the following is the independent auditor’s principal purpose for obtaining an understanding…

A:

Q: According to the professional standards of practice, Internal Auditors demonstrate due professional…

A: Actions that adhere to moral norms and conduct guidelines are referred to as ethical behavior.…

Q: When auditors become aware of noncompliance with a law or regulation committed byclient personnel,…

A: Auditing:   Auditing refers to an independent examination of financial information of any…