AUDITING RMU
11th Edition
ISBN: 9781260934830
Author: MESSIER
Publisher: MCGRAW-HILL HIGHER EDUCATION
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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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Students have asked these similar questions
Which of the following statements, relating to the auditor's responsibilities regarding subsequent events, if any, is/are correct? (1) Auditors do not have a responsibility to perform procedures to identify subsequent events after the date of the auditor's report(2) Where a material adjusting subsequent event is identified after the financial statements are issued, but prior to approval by the shareholders, the auditor should includeja qualified opinion in their audit report if management refuses to adjust the financial statements for the event
a. 1 only
b. Neither 1 nor 2
c. 2 only
d. Both 1 and 2
What type of opinion is issued by the auditor on the financial statements when there is some limitation on the scope of the audit or when one or more items in the financial statements are not presented in accordance with applicable accounting principles?
Other matters to which the auditor may wish to refer in an Other Matter(s) paragraph but which are not required to be presented or disclosed in the financial statements by the applicable financial reporting framework include, for example, the following:
Group of answer choices
all three other choices
Information in a document containing audited financial statements that is materiallyinconsistent with those financial statements.
In rare circumstances, other matters that the auditor considers necessary tocommunicate to the user, for example, where the auditor judges it necessary to explain whythe auditor is unable to resign from the engagement even though the possible effect of an inability to obtain sufficient appropriate audit evidence due to a scope limitation imposed by management is pervasive
A predecessor auditor’s report on the corresponding figures in the incoming auditor’sreport for the current period where the incoming auditor is permitted to make such areference
Chapter 18 Solutions
AUDITING RMU
Ch. 18 - Prob. 18.1RQCh. 18 - Prob. 18.2RQCh. 18 - Prob. 18.3RQCh. 18 - Prob. 18.4RQCh. 18 - Prob. 18.5RQCh. 18 - Prob. 18.6RQCh. 18 - Prob. 18.7RQCh. 18 - Prob. 18.8RQCh. 18 - Prob. 18.9RQCh. 18 - Prob. 18.10MCQ
Ch. 18 - Prob. 18.11MCQCh. 18 - Prob. 18.12MCQCh. 18 - Prob. 18.13MCQCh. 18 - Prob. 18.14MCQCh. 18 - Prob. 18.15MCQCh. 18 - Prob. 18.16MCQCh. 18 - Prob. 18.17MCQCh. 18 - Prob. 18.18MCQCh. 18 - Prob. 18.19MCQCh. 18 - Prob. 18.20MCQCh. 18 - Prob. 18.21MCQCh. 18 - Prob. 18.22PCh. 18 - Prob. 18.23PCh. 18 - Prob. 18.24PCh. 18 - Prob. 18.25PCh. 18 - Prob. 18.26PCh. 18 - Prob. 18.27PCh. 18 - Prob. 18.28P
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