An Independent Auditor is an outsider to an entity. He had to plan out his action seriously and thoroughly. Out of the seven steps in the process of audit which will be his first step from the options given below? a. Drafting a Report b. Scheduling an open meeting c. Requesting financial documents d. Preparing an audit plan Clear my choice

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11. The major purposes of obtaining a client representation letter include:   Select one:a.  To document in the audit working papers the client's responses to many questions asked by the auditors during the engagementb. All of the mentioned is correct c.  To remind the client officers of their primary responsibility for the financial statementsd. To provide evidence in areas where accounting presentation may be dependent upon management's future intentions.

The use of an audit engagement letter is the best method of assuring the auditor will have which of the following?Select one: a. Cooperation from other auditors b. Auditor will obtain sufficient appropriate audit evidence. c. Access to all books, accounts and vouchers required for audit purpose d. Management representation letter

48 Audit working papers are used to record the results of the auditor's evidence-gathering procedures.  When preparing     working papers, the auditor should remember that working papers should be  Group of answer choices  designed to meet the circumstances and the auditor's needs on each engagement.  the primary support for the financial statements being examined.  kept on the client's premises so that the client can have access to them for reference purposes.  considered as part of the client's accounting records that are retained by the auditor.

7 Any of the parties listed below can be responsible for providing the financial information that will be audited by the auditor, except  _______________   Question 7 options:   a)  Audit committee   b)  The customers   c)  Management   d)  The engaging part

answer must be in table format or i will give down vote

Which of the following accurately describes a characteristic of key audit matters (KAMs)? a. KAMS concern any matters communicated to the audit committee. b. KAMs involve simple, objective management judgment. c. All public companies will have the same number of KAMs. d. Accounts with a large balance where the auditor spends a significant of time gathering evidence will become KAMS. Hide Feedback Incorrect Check My Work Feedback Review the section on key audit matters in Chapter 15.

Compile a full set of notes which you will use to prepare for the training session that you are required to present. The notes should include: a) The steps a professional accountant should take in applying the conceptual framework approach. b) An explanation of the five categories of threats suggested by the code. c) A brief description of six general safeguards in an audit firm’s work environment that will ensure that threats to compliance with the fundamental principles are addressed appropriately

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