Audit should be performed by persons having adequate training, experience and competence is referrec

Q: How will you explain the Auditing Process to someone with experience in Auditing?

A: Auditing: An audit looks at your company's financial records to make sure they're correct. This is…

Q: Why are audit objectives important in planning and performing an audit? Is it possible for audit…

A: Why are audit objectives important in planning and performing an audit? Audit objectives are the…

Q: What is a post-audit, and what is the purpose ofthis audit?

A: Audit:   An audit is an organised and self-regulated inspection of books of accounts. This…

Q: What are the main reasons for an audit, and what actions result in an audit being conducted?

A: 1. Compliance with laws and regulations: Audits are conducted in order to ensure that an…

Q: Explain the characteristics of audit documentation should possess.

A: 1. Completeness: Audit documentation should contain sufficient information to support the…

Q: developing and evalueting audit documentation

A: Audit documentation is the way of recording the audit plans, procedures and findings in a working…

Q: scribe the m

A: External Audit is the audit done by auditors appointed by the shareholders, who give audit report…

Q: Carla Vista Company expects to produce 1,260,000 units of product XX in 2022. Monthly production is…

A: The variable costs per unit remain constant at every level of production. The fixed costs in total…

Q: Describe the purpose of an audit. How can the audit experience be viewed as positive?

A: The study and verification of a company's financial data is described by as audit in accounting. An…

Q: Explain the process of completing the field work of auditor?

A: Answer:- Auditing meaning:- Auditing is the independent examination of the financial statements of…

Q: Identify the differences between internal audit and external audit

A: Audit is an independent examination of books of accounts and records of an entity. Size of the…

Q: An audit plan should include Audit criterial O Audit scope O Audit date and time O all the above.

A: The audit plan is the plan and guidelines to be followed when the team conducts the audit of the…

Q: What is the purpose and used of audit confirmation materials?

A: Introduction:- Audit confirmation is the practice of receiving a direct answer from a third party in…

Q: What is the purpose of performing preliminary analytical procedures in audit planning?

A:

Q: criteria of audit plan

A: Introduction: While performing an audit, an audit plan is the exact guideline to adopt. It assists…

Q: What are the types of audit procedures used during substantive testing, briefly explain them.

A: Substantive testing is indeed an auditing method that looks for mistakes in financial statements and…

Q: What are analytical procedures? Describe how they can be used as substantive tests in an audit

A: Analytical procedures are the procedure used by auditor at planning and execution stage to analysis…

Q: All auditing standards have:  Select one: a. An executive summary b. An objective c. A summary d.…

A: Audit is the process of checking and verifying books of account of the business in order to ensure…

Q: Define control risk and explain the role of control risk assessment in audit planning.

A: Three types of risks in auditing: Inherent Risk Control Risk Detection Risk Control Risk: It is…

Q: What type of audit report does a client typically want or hope for?

A: Audit report is the statement wherein the auditor gives its view on the financial statements of an…

Q: Describe what is meant by an audit procedure. Why is it importantfor audit procedures to be…

A: Step1 The audit is the independent examination of the financial statements of the entity and whether…

Q: Explain why the decision to accept a client is important and describe the primary features of client…

A: The decision to accept a client is a crucial one for audit firms as it can impact their reputation,…