Your client Micros Associates is engaged in trading of computers. The client has been audited by your firm for quite a few years. Which one of the following is not considered to be part of your audit planning? O a. Considering whether the financial statements show a true and fair view O b. Background i.e., industry O C. Previous year's audit i.e., any qualifications in the report O d. Considering the work to be done by the client staff e.g., internal audit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Your client Micros Associates is engaged in trading of computers. The client has been audited by your firm for quite a few years. Which one of the
following is not considered to be part of your audit planning?
O a. Considering whether the financial statements show a true and fair view
O b. Background i.e., industry
O C. Previous year's audit i.e., any qualifications in the report
O d. Considering the work to be done by the client staff e.g., internal audit
Transcribed Image Text:Your client Micros Associates is engaged in trading of computers. The client has been audited by your firm for quite a few years. Which one of the following is not considered to be part of your audit planning? O a. Considering whether the financial statements show a true and fair view O b. Background i.e., industry O C. Previous year's audit i.e., any qualifications in the report O d. Considering the work to be done by the client staff e.g., internal audit
You are the Audit Manager in charge of an audit of Bahwan Automobile, a limited liability company. The company's year-end is 31 December, and
Bahwan Automobile LLC is being a client for first time. Which of the following matters will you determine in establishing overall audit strategy?
O a. The extent of review of another accountant's work
O b. The timing in which the employees are to be performed their tasks
O The number of resources to allocate to specific entity's department
O d. The resources to deploy for specific audit areas
Transcribed Image Text:You are the Audit Manager in charge of an audit of Bahwan Automobile, a limited liability company. The company's year-end is 31 December, and Bahwan Automobile LLC is being a client for first time. Which of the following matters will you determine in establishing overall audit strategy? O a. The extent of review of another accountant's work O b. The timing in which the employees are to be performed their tasks O The number of resources to allocate to specific entity's department O d. The resources to deploy for specific audit areas
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