Which of these audit evidence is more reliable for an auditor to use in gathering evidence than the other (pick one):   Employee described process or direct knowledge of the process ___________________ External third party documents or internally provided documents ____________________ Copies of document or original documents ____________________

Q: Which of the following accurately describes a characteristic of key audit matters (KAMs)? a. KAMS…

A: Key Audit Matters (KAMs) are significant matters in the audit of financial statements, and they…

Q: List the management reports and computer files that can be used for audit evidence. What information…

A: Audit Evidence:   Evidences obtained by auditor after applying various audit procedures to verify…

Q: Explain why auditors obtain writtenrepresentations and identify thekey components of…

A: Written Representations: The document that assures particular matters and serves as supporting…

Q: of these reasons are important to discuss the types of service with management before performing the…

A: All of these reasons are important to discuss the types of service with management before performing…

Q: do you agree with the statement it audit should be considered absolute because it implies a…

A: An audit is a methodical  examination and verification of  fiscal records, accounts, procedures,…

Q: Don't use chatgpt, I will 5 upvotes Objective Question: What term refers to the concept that…

A: The fundamental rules that regulate the careful examination of an organization's financial records…

Q: How would you describe the Auditing Process to someone with experience in Auditing firm?

A: Audit can be defined as the verification, examination, and evaluation of the financial information…

Q: Which of the following services can be classified as an assurance service? O A. The auditor verifies…

A: Answer: option (A)

Q: Which of the following is a category of audit documentation? * Current file Permanent file O Audit…

A: Audit documentation: It is the record of procedure performed, relevant audit documents obtained and…

Q: 9 Explain how the effectiveness of general control affects the auditor's test of automated…

A:

Q: Which of the following costs usually is not directly traceable to an audit engagement?

A: The correct answer is: (D) office space rent for CPA firm Office rent space for CPA firm is usually…

Q: _______________________________is a possible safeguard implemented by the client that might mitigate…

A: Answer: Concept: Audit Independence threat is the threat that are experienced by auditor during the…

Q: What is the name of the individual that carries out auditing for a company or client called?…

A: Auditing is very important for the company and auditing is process of checking the account accuracy…

Q: Give two examples of analytical procedures available to an auditor:

A: 1. Analytical procedures using ratios: This involves comparing financial ratios from one period to…

Q: 6 List 4 types of management assertions presented in the financial statements that an auditor needs…

A: While performing the review engagement or audit procedure, preparing for an audit report, or forming…

Q: ________________involves checking the arithmetical accuracy of a source of document and accounting…

A: Audit evidence is the information and data so collected by the auditor in order to obtain the…

Q: ______________________is a possible safeguard implemented by the client that might mitigate an audit…

A: Audit: It is the examination of each and every financial transaction. so that auditor can make their…

Q: of these two tasks is one of the major responsibilities of an auditor regarding the audited…

A: The Audit is said to be the process over there is an independent examination finance statement of…

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: Auditing Around the Computer: It is an auditing approach that is used to test or check the…

Q: What is ownership of and right of access to documentation? Why do you think that in the audit…

A: Meaning of the documentation is that is a printed paper that contains all the original , legal and…

Q: 4-What do you understand by confirmation in the context of audit procedure for obtaining audit…

A: Introduction:- Auditing may be defined as examination or inspection of books of accounts of any…

Q: can be defined as a management process that monitors on an ongoing basis whether internal controls…

A: Internal controls play vital role in every organization. This function to minimize risks and…

Q: When testing the existence assertion, the auditor will take the vouching direction when examining…

A: VOUCHING MEANS INSPECTION OF DOCUMENTARY EVIDENCE SUPPORTING & SUBSTANTIATING TRANSACTIONS . THE…

Q: 1. What are the evidence garthering techniques Used in Information System Auditing by Internat…

A: 1. Evidence Gathering Techniques Used in Information System Auditing by Internal Auditors:Internal…

Q: What are the independence rules that auditors are required to abide by? What are the threats to…

A: Answer:- Audit meaning:- Audit is an independent examination of the financial statement of an…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Approach to Solving the Question:Define Audit Evidence: First, it is necessary to define what audit…

Q: A CPA may receive a commission for recommending a particular computer system to an audit client.…

A: As per AICPA Code of professional conduct a violation has been occurred if a CPA receives any…

Q: -Collecting evidence by observation refers to:

A: As per accounting, evidence is defined under the audit procedure, were the auditor is held…

Q: audit evidence would help you ascertain whether your selected journal entries were valid

A: Audit evidence is the affirmation received by the auditor in support of the items in the financial…

Q: To obtain an understanding of the relevant policies and procedures of internal control, the auditor…

A: INTERNAL CONTROLS ARE THE RISK MITIGATION STEPS TAKEN TO STRENGTHEN THE ORGANIZATION'S SYSTEMS AND…

Q: Which of the following is a category of audit documentation? Current file Permanent file Audit…

A: Auditing involves an independent examination of an entity's financial information with a view to…

Q: Which of the following documenting the auditor's understanding of internal controls is the best:…

A: Internal controls are defined as the procedures, mechanisms and rules executed through company in…

Q: {Auditing} 21. The scope of an audit is the determination of the range of the activities and the…

A: The term "audit" refers to the process of determining the information's trustworthiness and…

Q: Any of the parties listed below can be responsible for providing the financial information that will…

A: Audit committee, management and engagement party are internal to an organization and hence they are…

Q: Assume, Mr. A is appointed as an auditor of Jindal Steel to evaluate the internal control system by…

A: Introduction: Auditing: Auditing means examining the books of accounts , various processes…

Q: 11. How could an auditor ensure that a client or employer receives competent professional services…

A: EXPLANATION:- Professional Competence and Due Care – to webservice or company receives knowledgeable…

Q: ISA 230 Audit Documentation requires auditors to document their work. Briefly explain the reasons…

A: Audit documentation also helps in the planning, performance, and supervision of the engagement and…