1. Explain how an audit committee  could improve its effectiveness on internal auditor's control review and oversight work

Q: Establishing and maintaining an internal control structure is the responsibility of the: Select…

A: Internal control : Internal controls are intended to safeguard  assets of business  provide…

Q: Which of the following is usually not part of an internal audit department’s audit charter?a. A…

A: Internal Auditor: An internal auditor is a qualified professional hired by an entity to provide an…

Q: S1: Regarding communications between auditors, the predecessor auditor has the duty to initiate…

A: Business organizations are required to audit their financial statements so as to ascertain their…

Q: c) Which of the following is not an impact of SOX on auditors Multiple Choice a) Increased…

A: solution concept SOX Sarbanes Oxley Act is a act which aims at protecting the stakeholders of the…

Q: Discuss the problems associated with initiatives that has been put forward to

A: To ensure the audit committee's independence, it's a number one application for the bulk of its…

Q: What are considerations you will observe in evaluating the internal control of an audit engagement?…

A: Internal control refers to the activities performed by the management of the organization to ensure…

Q: Based on the above article, discuss the role of public sector auditing in the process of ensuring…

A: Public sector auditing based on public sector auditing standards help determine the financial…

Q: Who is responsible to set policies on internal control? Chief Executive Officer Audit Committee…

A: Internal Control:- It is the process effected by a company's board of directors , management ,…

Q: Which of the following stakeholders rely on internal audit report? a. General public b. Investors c.…

A: Audit is the examination or review of books of account in order to ensure that whether these…

Q: Prior to accepting a new audit engagement, a public accounting firm shoulda. Attempt to contact the…

A: Auditing:   Examining the company’s financial records for accuracy by maintaining Accounting…

Q: Practice question:

A: ANSWER No, I disagree with the statement that ''Having competent technical talents and capabilities…

Q: According to ISA 260, it is important for auditors to communicate throughout the audit with those…

A: Audit: Auditing is a process of inspection of processes followed by an organization usually in…

Q: Explain how an audit committee could improve its effectiveness on internal auditor's internal…

A: An audit committee is a board of directors committee that is in charge of overseeing the financial…

Q: The major purposes of obtaining a client representation letter include:   Select one: a.  To…

A: The letter of representation is a letter drafted by the client to the auditor. This letter of…

Q: Discuss the differences between management letter and legal representation letter

A: Definition:   Auditing: In auditing, auditors verify the correctness and fair presentation of…

Q: Which of the following is least likely to be included in the auditor’s engagement letter?(1) Details…

A: Audit engagement is a document that confirms the acceptance of the audit assignment of the client.…

Q: The internal audit activity most directly contributes to an organization’s governance process by A.…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which of the following statements is correct concerning an auditor's required communication with…

A: Auditing means the independent checking of company operation by outsider. Auditor is a qualified and…

Q: Which of the following is NOT an important consideration for the auditor’s assessment of audit…

A: Audit committee is entrusted with the task of overseeing the reporting and disclosure requirements…

Q: 1. Why is audit firm culture important in ensuring that individual audit engagement partners resolve…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Classify each of the following issues according to whether they will be (1) included in written…

A: a.   (1) included in written representations in all audits.

Q: Which of the following audit types is designed to add value and improve the organization's…

A: Auditing is a process of examining the financial statements and internal control system of an…

Q: Analyze the many ways in which an audit committee might help the internal auditors do their job…

A: An audit committee receives all internal and external audit reports, a board of directors committee…

Q: A review of how an organization’s management and its operating procedures are functioning with…

A: The study and verification of a company’s financial records is described by the term audit in…

Q: В. According to ISA 260, it is important for auditors to communicate throughout the audit with those…

A: Audit: Auditing is a process of inspection of processes followed by an organization usually in…

Q: The primary purpose of accumulating sufficient and appropriate audit evidence is to Group of answer…

A: Sufficient and Appropriate Audit evidence Sufficient Audit evidence refers to Quantity of Audit…

Q: Which of the following are reasons for the audit profession issuing auditing standards?…

A: Auditing standards need auditors to get a correct understanding of the Business Associate in Nursing…

Q: Discuss the problems associated with initiatives that have been put forward to ensure independence…

A: To ensure the audit committee's independence, it's a number one application for the bulk of its…

Q: Compliance auditing often extends beyond audits leading to the expression of opinions on the…

A: An auditor is appointed to check the accuracy of the financial statements of the company.

Q: Which of the following is most true in relation to governance? О а. The Internal Audit department…

A: In the given case the external auditor is solely responsible for the audit opinion expressed on the…

Q: Based on Sarbanes-Oxley, who is ultimately responsible for the independence of the external auditor?…

A: The Sarbanes-Oxley Act,makes it compulsory for the audit committee to be responsible for omission or…

Q: When auditors become aware of noncompliance with a law or regulation committed byclient personnel,…

A: Auditing:   Auditing refers to an independent examination of financial information of any…

Q: 12.Who is responsible for reviewing and monitoring managements’ responsiveness to the Internal Audit…

A: Ans. The companies which are required to constitute an audit committee has many responsibilities…

Q: Discuss the problems associated with initiatives that been put forward to ensure independence of…

A: SOLUTION- To ensure the audit committee's independence, it's a number one application for the bulk…

Q: hich of the following is usually not part of an internal audit department’s audit charter?a. A…

A: Answer:   Option c

Q: n assessing whether to accept a client for an audit engagement, an auditor should consider the:

A: The objective of the auditor is to accept an audit engagement for a new or existing audit client…

Q: An auditor is required to communicate significant deficiencies in internal control to Audit…

A: Internal Control: An entity's board of directors, management, and other people are the ones who…

Q: Which of the following statement is not related to role of audit committee?     Approve…

A: In order to ensure whether the financial statements are prepared as per the standard and the…

Q: According to IAASB what are the functions of an internal audit?

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: The committee of the board of directors who is in charge of monitoring circumstances that might…

A: In an organisation, various type of committees are being made and every committe has its purposes,…

Q: Choose the correct.Which of the following is not a way by which the Sarbanes–Oxley Act attempts to…

A: The explanation for the given options:

Q: Governmental auditors’ independence and objectivity are enhanced when they report theresults of an…

A: Governmental audit: The process which evaluates the faithful and fair representation of financial…

Q: a) The primary responsibility for the prevention and detection of fraud rests with both those…

A: 1) Yes, I completely agree because it is the management and the government entity that are…

Q: Only 1 statement is True  B. Only 2 statements are True  C. All statements are True D. All…

A: Correct option : C

Q: Discuss the difference between the Management Letter and the Legal Representation Letter

A: Audit is conducted by auditor in which auditor assures (or denies) that the financial statements of…

Q: Which of the following is not a way by which the Sarbanes–Oxley Act attempts to ensure auditor…

A: Definition:   Sarbanes Oxley Act (SOX): SOX is the act passed by the government to address the…

Q: If the auditor identifies any events or conditions that may cast significant doubt on the entity's…

A: Auditor is the person who is responsible for performing audit work in the organisation. Audit means…

Q: What is the general character of the responsibilities characterized by the Performanceprinciples?(1)…

A: