Auditing: A Risk Based-Approach to Conducting a Quality Audit
Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
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Chapter 6, Problem 41RSCQ
To determine

Introduction:

The Accounting Standards require that Auditor should get collect sufficient appropriate evidence that can help him to decide for his opinion on the characteristics of sufficient audit evidence and appropriate audit evidence. He is also expected to distinguish between sufficiency and appropriateness and the relation, in between.

To Provide: An opinion to distinguish between the sufficient audit evidence and the appropriate audit evidence. Also, whether Sufficiency and Appropriateness are related or not.

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Students have asked these similar questions
Consider the concepts of sufficient and appropriate audit evidence. Assess how audit risk relates to audit evidence. How do auditors audit accounting estimates and other subjective information? What are analytical procedures, and why are they a useful audit tool? Explain the importance of audit documentation.
1. What is appropriate audit evidence?  How does an auditor determine whether the appropriate audit evidence is sufficient to support the opinion expressed in the auditor's report? 2. Explain the types of audit procedures
The auditor should consider audit risk when planning and performing an audit of financial statements. Audit risk should also be considered together in determining the nature, timing, and extent of auditing procedures and in evaluating the results of those procedures. Required: a. Define audit risk b. Describe the components of audit risk (e.g., inherent risk, control risk, and detection risk). c. Explain how these components are interrelated

Chapter 6 Solutions

Auditing: A Risk Based-Approach to Conducting a Quality Audit

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