not true about an audit report for an issuer

Consider the following statements: I. For an audit of a non-public company a issue involving information in the “Management         Discussion and Analysis section of the company’s annual report would be addressed in an         Other Matter paragraph. II. The new PCAOB audit report includes a section involving Key Audit Matters. I is true;   II is true I is true;   II is false I is false;  II is true I is false;  II is false

Which of the following statements regarding audit evidence is generally correct?    The auditor's direct personal knowledge, obtained through observation and inspection, is more persuasive than information indirectly fro m independent outide sources, To be appropriate, audit evidence must be sufficient, Accounting data alone may be considered sufficient appropriate audit evidence to issue an unqualified opinion on financial statements, Appropriateness of audit evidence refers to the amount of corrobrative evidence to be obtained

The standard unqualified opinion based on the audit of a public company's financial statements includes a. A discussion of Key Audit Matters if KAMs are discovered. b. A reference to Key Audit Matters if no KAMs are discovered. c. A statement that the CPA firm is registered with the AICPA. d. An indication of how long the firm has served as the company's auditors. e. A Basis for Opinion section preceding the Opinion of Financial Statements section.

Which of the following is a key change to audit reports per SAS No. 134? O a. It alters the look forward period for evaluating going concern uncertainty. O b. It explicitly assigns responsibility for evaluating going concern to the auditors. Oc. Reporting language related to substantial doubt about an entity's ability to continue as a going concern was eliminated. O d. Reporting language related to substantial doubt about an entity's ability to continue as a going concern was enhanced.

3. Does a qualified opinion on management’s assessment of internal controls over the financial reporting system necessitate a qualified opinion on the financial statements? Please explain within 150 words. (To answer this question, please make sure you understand the terms “unqualified opinion” and “qualified opinion” in auditing.

The audit report should be dated: a. Earlier than the date the audit evidence was checked b. Not earlier than the date on which the accounts were approved by management c. Earlier than the date of the completion of audit work d. Earlier than the date the audit examination has started

25. Which of the following would not be included in an accountant's review report on the financial statements of a nonpublic entity? Group of answer choices   A statement that the review was made in accordance with generally accepted auditing standards.   A statement that all information included in the financial statements is the representation of management.   A statement describing the principal procedures performed.   A statement describing the auditor's conclusions based on the results of the review.

Financial audit Q&A What risks that may occur during assertion testing, but cannot be prevented due to the lack of time? What reports that need to be prepared to find out if there are significant changes in the client? What is the parties reported by the auditor that are related to the results of the audit reports made? What terms that must be included in the document prepared by the client? What is the inspection activities to ensure the shipping or Destination Point in the recording of the financial statements is correct in accordance with the fragments? The auditor needs to know that the ending balance recorded in the financial statements is appropriate based on evidence of transactions in the company. What is the audit assertion underlying the vouching procedure? What is the audit assertion underlying the tracing procedure? What is the risk that caused by the sample taken by the Auditor does not describe the characteristics of the data from the entire data population?…

What should occur if the audit report has already been issued and the auditor becomes aware of a situation that was present as of the Balance Sheet date (a subsequent event)?