ACP AUDITING - RISK BASED APPROACH
ACP AUDITING - RISK BASED APPROACH
10th Edition
ISBN: 9780357195079
Author: JOHNSTONE
Publisher: CENGAGE C
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Chapter 4, Problem 54RSCQ
To determine

Concept introduction: An audit is an independent examination conducted to ensure that the financial statements are true and fair. Auditing standards are certain defined rules and regulation that provide guidance to the auditors for conducting the audit efficiently and effectively. The auditing standards are followed to fulfill the objective of audit.

Professional judgment is the ability to decide for where the auditing standards should be used and where should not be used. The auditor must have a sense of professional judgment.

To indicate:The auditor’s action in the given situation.

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ACP AUDITING - RISK BASED APPROACH

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