Show
This preview shows page 2 - 4 out of 10 pages. QUESTION 6Which of the following procedures would an auditor most likely include in the initial planningphase of a financial statement audit?A.Obtain an understanding of the entity's risk assessment processB.Identify specific internal control activities designed to prevent fraudC.Evaluate the reasonableness of the entity's accounting estimatesD.Perform cutoff tests of the entity's sales and purchases QUESTION 7A difference of opinion regarding the results of a sample cannot be resolved between theassistant who performed the auditing procedures and the in-charge auditor. The assistant should Get answer to your question and much more QUESTION 8Which of the following factors most likely would heighten an auditor's concern about the risk offraudulent financial reporting? Get answer to your question and much more C.Financial management's participation in the initial selection of accounting principlesD.An overly complex organizational structure involving unusual lines of authorityQUESTION 9Which of the following procedures would an auditor most likely perform during the overallreview stage of an audit of an entity's financial statements? Get answer to your question and much more QUESTION 10Inherent risk and control risk differ from detection risk in that inherent risk and control risk areA.Functions of the client and its environment while detection risk is notB.Changed at the auditor's discretion while detection risk is notC.Considered at the individual account balance level while detection risk is notD.Elements of audit risk while detection risk is not QUESTION 11Holding other planning considerations equal, a decrease in the amount of misstatements in aclass of transactions that an auditor could tolerate most likely would cause the auditor to Get answer to your question and much more Upload your study docs or become a Course Hero member to access this document Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 10 pages? Upload your study docs or become a Course Hero member to access this document a. Make a preliminary judgment about materiality. b. Confirm a sample of the entity's accounts payable with known creditors. c. Obtain written representations from management that there are no unrecorded transactions. d. Communicate management's initial selection of accounting policies to the audit committee. Last Updated on February 3, 2022 by Admin 3
Explanation:
Which of the following procedures would an auditor most likely perform in planning a financial statement?Which of the following procedures would an auditor most likely perform in planning a financial statement audit? Comparing the financial statements to the anticipated results.
Which of the following procedures would a CPA most likely perform in planning a financial statement audit?Which of the following procedures would a CPA most likely perform in the planning stage of a financial statement audit? Compare recorded financial information with anticipated results from budgets and forecasts.
Which of the following procedures will an auditor most likely perform when evaluating audit evidence at the completion of the audit?Which of the following procedures will an auditor most likely perform when evaluating audit evidence at the completion of the audit? Consider whether the results of audit procedures affect the assessment of the identified risks of material misstatement due to fraud.
Which of the following audit procedures most likely would assist an auditor in identifying?Which of the following audit procedures is most likely to assist an auditor in identifying conditions and events that may indicate substantial doubt about an entity's ability to continue as a going concern? - Review management's plans to dispose of assets. - Consider management's plans to reduce or delay expenditures.
|
Which of the following procedures would an auditor most likely include in planning a financial statement audit?
zusammenhängende Posts
Urheberrechte © © 2024 decemle Inc.
