EBK AUDITING & ASSURANCE SERVICES: A SY
11th Edition
ISBN: 9781260687668
Author: Jr
Publisher: MCGRAW-HILL LEARNING SOLN.(CC)
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Question
Chapter 4, Problem 4.29P
To determine
Introduction: Understanding the entity and its environment is essential for an auditor as it helps in assessing the risk of material misstatements and accordingly the auditor designs necessary
To ascertain: Five potential sources of information about the entity and its environment.
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Students have asked these similar questions
list the four types of information the auditor should obtain or review as a part of gaining background information for the audit, and provide one specific example of how the information will be useful in conducting an audit.
What are four potential tools available to the auditor for documenting her understanding of an entity's system of internal control? Just list them.
Once the overall audit strategy has been established, what can be developed to address the various matters identified in the overall audit strategy, taking into account the need to achieve the audit objectives through the efficient use of the auditor’s resources.
A.audit strategy
B.audit plan
C.audit plan and audit strategy
D.audit note book
Chapter 4 Solutions
EBK AUDITING & ASSURANCE SERVICES: A SY
Ch. 4 - Prob. 4.1RQCh. 4 - Prob. 4.2RQCh. 4 - Prob. 4.3RQCh. 4 - Prob. 4.4RQCh. 4 - Prob. 4.5RQCh. 4 - Prob. 4.6RQCh. 4 - Prob. 4.7RQCh. 4 - Prob. 4.8RQCh. 4 - Prob. 4.9RQCh. 4 - Prob. 4.10RQ
Ch. 4 - Prob. 4.11RQCh. 4 - Prob. 4.12RQCh. 4 - Prob. 4.13MCQCh. 4 - Prob. 4.14MCQCh. 4 - Prob. 4.15MCQCh. 4 - Prob. 4.16MCQCh. 4 - Prob. 4.17MCQCh. 4 - Prob. 4.18MCQCh. 4 - Prob. 4.19MCQCh. 4 - Prob. 4.20MCQCh. 4 - Prob. 4.21MCQCh. 4 - Prob. 4.22MCQCh. 4 - Prob. 4.23PCh. 4 - Prob. 4.24PCh. 4 - Prob. 4.25PCh. 4 - Prob. 4.26PCh. 4 - Prob. 4.27PCh. 4 - Prob. 4.28PCh. 4 - Prob. 4.29PCh. 4 - Prob. 4.30PCh. 4 - Prob. 4.31PCh. 4 - Prob. 4.32P
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Similar questions
- Which of the following is the major purpose of performing analytical procedures in internal audits? a. To perform additional audit procedures. b. To plan the audit engagement. c. To obtain audit evidence. d. To study relationships among elements of information.arrow_forwardIn respect to subsequent events, briefly explain the main responsibilities of the external auditors during the assurance engagement.arrow_forwardDefine audit risk and describe how it can be broken down into the three separate components of the audit risk model to help assess and respond to such risks during the audit planning process.arrow_forward
- Assume that an auditor has identified a number of CAMs. A. what are CAMs? b. For each CAMs, what should the auditor include inthe audit reportarrow_forwardList three reasons management may ask for an operational audit to be performed, and explain how the audit program would be impacted by each of them.arrow_forwardExplain the following audit strategy document main sections: Scope Materiality Audit Strategies Timeframe Communication and Reportingarrow_forward
- What are the two main categories of the Internal Audit Standards? a) Attribute and Performance b) Planning and Execution c) Internal and External d) Audits and Consultingarrow_forwardAn audit plan is : a. The blueprint for conducting the audit and accomplishing the audit objectives. b. The flowchart for conducting the audit and accomplishing the audit objectives. c. The footprint for conducting the audit and accomplishing the audit objectives. d. The gannchart for conducting the audit and accomplishing the audit objectives.arrow_forwardIn the auditor's current audit documentation files, what is regarded to be the most significant content?arrow_forward
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