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Don't use chatgpt, I will 5 upvotes Objective Question: What term refers to the concept that auditors must maintain impartiality and avoid conflicts of interest when performing audits? A) Auditor objectivity B) Auditor independence C) Audit integrity D) Audit professionalism

determine whether statement 1 and 2 are true or false 2. S1- Studying the relationship of financial information with another information, whether financial or non-financial, is an example of an analytical procedure.    S2-To reduce audit risk to an acceptable low level, the auditor should determine overall responses assessed risks at the assertion level a. False, False b. True, False c. False, True d. True, True

Which sentence below is true about audit risk:  A. Audit risk is the risk that a company may hire an incompetent auditor. B. Audit risk can be completely eliminated through appropriate sampling of transactions. C. Audit is what creates the demand for an audit. D. Audit risk is the risk that a "clean" opinion will be issued when, in reality, the financial statements are materially misstated..

S1: Audit debriefing process should be led by the audit manager.S2: An audit benefits the public. Group of answer choices Only S2 is correct. Only S1 is correct. Both S1 and S2 are incorrect. Both S1 and S2 are correct.

{Auditing} 28. Which one of the following options is the basis for opinion for an auditor? a. ISA , sufficient and appropriate audit evidence are the basis for audit opinion b. None of the options c. Only ISA is basis of audit opinion d. Only Sufficient evidence are the basis for audit opinion

15. By checking what is achievable in audit the question "Does what we can do" is equal to A. What we need t o do? C. Is it possible to B. What could D. What is be done instead the best of it? be done? way? 16. •. What is hoped to be achieved from the interview is then fully communicated and further clarification provided if needs be. A. Introductions В. Objectives C. Questions D. Wind up and answers then proceed in a 17. Questions and answers. The main body of the interview shoul way that flows naturally and promotes the achievement of the original objectives of the meeting. A. Introductions В. Objectives C. Questions D. Wind up and answers

An auditor obtains evidence regarding the assertion of Completeness by sending confirmations.   Question 10 options:   True   False

5. All of these reasons are important to discuss the types of service with management before performing the audit work, except ___________   Question 5 options:   a)  To avoid misunderstanding   b)  To charge more audit hours and fees   c)  To prepare the auditor for the job   d)  To determine the audit procedures required

The temporal order of an audit engagement mirrors the audit risk model.   Question 39 options:   True   False

Determine whether statement and statement 2 is true or false 3. S1-It is necessary for the audit team members to have a collective knowledge needed to carry out the engagement S2 - An important responsibility of an auditor is the establishment and maintenance of internal control on an ongoing basis a. False, False b. True, False c. False, True d. True, True 4. S1 - Generally, the more reliable internal controls are, the lesser the substantive test procedures the auditor would need to perform in auditing year-end account balances S2 - The industry in which the client operates may give rise to specific risks of material misstatements arising from the nature of the business or the degree of regulation a. False, False b. True, False c. False, True d. True, True 5. S1 -Objectives are the overall plans for the entity, while strategies are the operational approaches by which managements intends to achieve its objectives S2- Not all controls are relevant to the auditor’s risk assessment  a.…

s1: The tick marks are usually placed after an amount, s2: The legend to identify the audit procedures are placed in the lower portion of the audit working papers. S3: There is no standard set of identifying a particular tick mark,    A. all statements are true b. all statements are false c. s1 and s2 are true d. s1 and s3 are true

Auditing Theory 1. Which of the following statements concerning audit planning is incorrect? *   A. Planning encourages the use of analytical procedures.   B. Planning facilitates supervision of team members.   C. In a recurring audit, planning often begins shortly after (or in connection with) the completion of the previous audit and continues until the completion of the current audit engagement.   D. In planning an audit, the auditor computes the materiality level and tolerable misstatement.   2. Evidence gathering in a scientific experiment is most similar to which phase of the audit? *     a. Assessing risks and designing audit procedures to address these risks.   b. Planning and supervising an engagement.   c. Evaluating whether the financial statements are fairly presented.   d. Hypothesizing that financial statements are presented fairly.   3. Which of the following statements is…

Please access PCAOB Auditing Standard No. 12 "Identifying and Assessing Risks of Material Misstatements" (pcaobus.org).  Use this standard to answer each of the questions below.  For each answer, document the paragraph(s) in AS No. 12 supporting your answer.  a.  What types of information does AS No. 12 suggest the auditor should consider when obtaining an understanding of the company and its environment? b.  What types of performance measurements might affect the risk of material misstatement? c.  What specific issues should be included in the discussion among engagement team members regarding the risk of material misstatement? d.  What factors should the auditor consider to determine if a risk is a "significant risk"? e.  What guidance is provided about revising the risk assessment as the audit continues?

QUESTION 2 The risk of the auditor “getting it wrong” or giving opinions that are not 100% accurate will always be present and this is referred to as audit risk. Audit risk is better understood when the components of the risks are understood. Identify and explain the three components of audit risk

The audit risk model includes the four risks listed below. Match the type of risk with the related definition.A. Detection riskB. Control riskC. Inherent riskD. Audit risk___ 1. The probability that an auditor will give an inappropriate opinion on financial statements.___ 2. The probability that audit procedures will fail to produce evidence of material misstatements.___ 3. The probability that the client's internal control policies and procedures will fail to detect material misstatements if they have entered the accounting system.___ 4. The probability that material misstatements have occurred in transactions entering the accounting system.

tch the type of risk with the related definition.A. Detection riskB. Control riskC. Inherent riskD. Audit risk___ 1. The probability that an auditor will give an inappropriate opinion on financial statements.___ 2. The probability that audit procedures will fail to produce evidence of material misstatements.___ 3. The probability that the client's internal control policies and procedures will fail to detect material misstatements if they have entered the accounting system.___ 4. The probability that material misstatements have occurred in transactions entering the accounting system.

Which of the following statements is FALSE?A. Irregularities are intentional misrepresentations associated with the commission of a fraudB. Errors are unintentional mistakesC. Data conversion provides safe storage for the off-line data files. These files could be backups or current data files.D. Before the auditor can determine the nature and extent of the tests to perform he or she must gain a thorough understanding of the client’s business