What is the wording for a disclaimer of opinion?
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What is the wording for a disclaimer of opinion? Where is that located in the standards?
Must know the auditor’s opinions, may have to do that on the CPA exam. The requirements for these are in the standards as well.
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- What is the purpose of an external audit by an independent CPA firm? How does an auditor go about conducting an audit? How does a qualified opinion by an auditor differ from an unqualified opinion or an adverse opinion? Paragraph under 100 words pleaseWhich section of the regulations require a CPA to comply with Generally Accepted Accounting Principles and Generally Accepted Auditing Standards? If compliance is required by other organizations (PCAOB, AICPA, etc.) why do you think this requirement is also included in the regulations?Q:(i) Auditor's report is often called Independent Auditor's Report. Why is independence important to the auditor? Explain the specific independence requirements. (ii) Give an example that the auditor may violate the independence requirements and suggest the possible safeguard the auditor should take.
- Why should receiving reports be prenumbered in the first place? With the help of the receiving reports, what assertions would an auditor test, and how would the auditor go about doing so?what are the Similarities and differences between the code of ethics for external auditors (IRBA) and the code of ethics for internal auditors (IIA)The statements that follow are with regard to evidence that is sufficient and appropriate. As a future auditor, you are required to indicate if you agree with each statement and provide reasons for your decisions: a. When the auditor is making a decision on whether or not sufficient and appropriate evidence has been obtained they will first need to make considerations regarding the sufficiency of the evidence gathered.
- What is meant by the evaluation of a client's ability to continue as a going concern? What are some situations that would require modification of the auditor's opinion related to going concern? What is the auditor's responsibility for assessing a client's ability to continue as a going concern?If an auditor believes that an understanding with an audit client has not been established he or she should? State what should an auditor do and explain.IT audit standards of practice require that IT auditors: [SELECT ALL THAT APPLY] a) Must exercise due professional care when performing audit procedures. b) Must maintain objectivity and independence to avoid introducing bias in their reports. c) Should be professionally competent, and possess the skills and knowledge to conduct the audit. d) Must obtain an audit certifications
- When applying the GAO's conceptual framework (framework), which step should the auditor apply first? Evaluate the threat to independence. Apply safeguards to mitigate threats to independence. Determine whether use of the framework is required. Identify the threat to independence. When applying the GAD's conceptual framework (framework), which step should the auditor apply first? Evaluate the threat to independence O Apply safeguards to mitigate threats to independence O Determine whether use of the framework is required. O Identify the threat to independenceDiscuss the similarities and differences, if any, between the code of ethics for external auditors (IRBA) andthe code of ethics for internal auditors (IIA)Discuss how professional skepticism relates to conducting a proper audit and meeting ethical obligations under the AICPA Code.
