EBK AUDITING & ASSURANCE SERVICES: A SY
11th Edition
ISBN: 9781260687668
Author: Jr
Publisher: MCGRAW-HILL LEARNING SOLN.(CC)
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 1.28P
To determine
Introduction: Audit report is a report in which the auditor expresses his opinion on the financial statements of a firm along with citing the reasons for such opinion.
To explain: The words/phrases in audit report given in said chapter that indicate to the users that the financial statements are not necessarily an exact representation of the operations and financial position of the company.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Become familiar with the several kinds of reports that go along with a company's financial statements, including the normal (unmodified) audit report.+
To do an audit of a company's financial statements, there must be several key elements and procedures including
all of the following except:
O A. Quantitative information in a verifiable form that can be checked by the auditor.
O B. Some standards or criteria by which the auditor can evaluate the information, which are generally
accepted accounting principles or International Financial Reporting Standards.
C. Determining the degree of correspondence between information and established criteria using some kind
and amount of evidence.
O D. None of the above.
13. Which of the following is NOT an obligation or duties of an auditor?
a.
Inspect account books and accounting systems for efficiency
b.
Prepare detailed reports on audit findings
c.
Examine and evaluate financial and information systems
d.
Helps to prepare the financial statements of companies
Chapter 1 Solutions
EBK AUDITING & ASSURANCE SERVICES: A SY
Ch. 1 - Prob. 1.1RQCh. 1 - Prob. 1.2RQCh. 1 - Prob. 1.3RQCh. 1 - Prob. 1.4RQCh. 1 - Prob. 1.5RQCh. 1 - Prob. 1.6RQCh. 1 - Prob. 1.7RQCh. 1 - Prob. 1.8RQCh. 1 - Prob. 1.9RQCh. 1 - Prob. 1.10RQ
Ch. 1 - Prob. 1.11RQCh. 1 - Prob. 1.12RQCh. 1 - Prob. 1.13MCQCh. 1 - Prob. 1.14MCQCh. 1 - Prob. 1.15MCQCh. 1 - Prob. 1.16MCQCh. 1 - Prob. 1.17MCQCh. 1 - Prob. 1.18MCQCh. 1 - Prob. 1.19MCQCh. 1 - Prob. 1.20MCQCh. 1 - Prob. 1.21MCQCh. 1 - Prob. 1.22MCQCh. 1 - Prob. 1.23MCQCh. 1 - Prob. 1.24PCh. 1 - Prob. 1.25PCh. 1 - Prob. 1.26PCh. 1 - Prob. 1.28P
Knowledge Booster
Similar questions
- What type of audit is conducted to provide assurance about various aspects of an organization's activities rather than the reliability of financial statements? O Compliance audit O Internal audit O Operational audit O Financial statement auditarrow_forwardQuestion: In accounting, which type of audit is conducted by an independent firm or organization outside of the company? A) Internal audit B) External audit C) Compliance audit D) Operational auditarrow_forwardWhich of the following is not part of audit evidence? Information gathered by the auditors from stock exchange Information contained in the accounting records Confirmation from third parties Audit firm quality control procedure for client acceptance and continuationarrow_forward
- Which of the following statement is not related to role of audit committee? Approve remuneration and terms of engagement of the external auditor Monitor and review the effectiveness of the company’s internal control Monitor the integrity of the company’s financial statements To prepare the financial statement of the company in timearrow_forwardDescribe and define the assertions that management makes about the recognition, measurement, presentation, and disclosure of the financial statements and explain why auditors use them as the focal point of theaudit.arrow_forwardThe subject matter of information in auditing includes what? A. The financial statements of the enterprise (e.g. Balance Sheet, Income Statement, Statement of Cash Flow, Statement of Changes in Shareholder’s Equity and the notes to financial statements) B. Financial reporting framework C. Assets and Liabilities D. Income and Expensesarrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub
Pkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE L
Auditing: A Risk Based-Approach (MindTap Course L...
Accounting
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q...
Accounting
ISBN:9781305080577
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:South-Western College Pub
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L