‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company. Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company. The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements. To select: The correct option.

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Answer 1

Question

Chapter 18, Problem 18.19MCQ

To determine

Introduction:

‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company.

Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company.

The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements.

To select: The correct option.

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Answer 2

Question

Chapter 18, Problem 18.19MCQ

To determine

Introduction:

‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company.

Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company.

The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements.

To select: The correct option.

Expert Solution & Answer

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Answer 3

Question

Chapter 18, Problem 18.19MCQ

To determine

Introduction:

‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company.

Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company.

The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements.

To select: The correct option.

Expert Solution & Answer

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Answer 4

Question

Chapter 18, Problem 18.19MCQ

To determine

Introduction:

‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company.

Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company.

The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements.

To select: The correct option.

Expert Solution & Answer

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Answer 5

Chapter 18, Problem 18.19MCQ

To determine

Introduction:

‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company.

Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company.

The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements.

To select: The correct option.

Answer 6

Chapter 18, Problem 18.19MCQ

To determine

Introduction:

‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company.

Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company.

The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements.

To select: The correct option.

Answer 7

Chapter 18, Problem 18.19MCQ

To determine

Introduction:

‘Other information’ refers to information other than the financial statements which is presented in the annual reports of the company.

Such ‘other information’ contains all the details presented in the annual report ranging from director’s report to future outlook or assessment of company made in the annual report of the company.

The auditor has no obligation regarding ‘other information’, however, is bound by professional auditing standards and best practices to go through such information and ensure that no inconsistency is observed in such information with the presented financial statements.

To select: The correct option.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 18 - Prob. 18.1RQ Ch. 18 - Prob. 18.2RQ Ch. 18 - Prob. 18.3RQ Ch. 18 - Prob. 18.4RQ Ch. 18 - Prob. 18.5RQ Ch. 18 - Prob. 18.6RQ Ch. 18 - Prob. 18.7RQ Ch. 18 - Prob. 18.8RQ Ch. 18 - Prob. 18.9RQ Ch. 18 - Prob. 18.10MCQ

Solution Summary: The author explains that auditors are bound by professional auditing standards and best practices to go through ‘other information’ provided in annual reports to ensure that information is not in contradiction with presented financial statements.

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Chapter 18 Solutions