Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Textbook Question
Chapter 13, Problem 10RQ
For each of the eight types of evidence discussed in Chapter 7, identify whether it is applicable for risk assessment procedures, tests of controls, substantive tests of transactions, substantive analytical procedures, and tests of details of balances.
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Chapter 13 Solutions
Auditing And Assurance Services
Ch. 13 - Prob. 1RQCh. 13 - Prob. 2RQCh. 13 - Prob. 3RQCh. 13 - Prob. 4RQCh. 13 - Prob. 5RQCh. 13 - Prob. 6RQCh. 13 - Explain how the calculation and comparison to...Ch. 13 - Prob. 8RQCh. 13 - Prob. 9RQCh. 13 - For each of the eight types of evidence discussed...
Ch. 13 - Prob. 11RQCh. 13 - Prob. 12RQCh. 13 - Prob. 13RQCh. 13 - Prob. 14RQCh. 13 - Prob. 15RQCh. 13 - Prob. 16RQCh. 13 - Prob. 17RQCh. 13 - Prob. 18RQCh. 13 - Prob. 19RQCh. 13 - Prob. 20RQCh. 13 - Prob. 21.1MCQCh. 13 - Prob. 21.2MCQCh. 13 - A conceptually logical approach to the auditors...Ch. 13 - Prob. 22.1MCQCh. 13 - Prob. 22.2MCQCh. 13 - Prob. 22.3MCQCh. 13 - Prob. 23.1MCQCh. 13 - b. Substantive analytical procedures are most...Ch. 13 - Prob. 23.3MCQCh. 13 - Prob. 24DQPCh. 13 - Prob. 25DQPCh. 13 - Prob. 26DQPCh. 13 - Prob. 27DQPCh. 13 - Prob. 28DQPCh. 13 - Prob. 29DQPCh. 13 - Prob. 30DQPCh. 13 - Prob. 31DQPCh. 13 - Prob. 32DQPCh. 13 - Prob. 33DQPCh. 13 - Prob. 34DQPCh. 13 - Prob. 35DQP
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- ABOUT AUDITING The process of selecting and developing policies and procedures to help mitigate risks to an acceptable level is part of which component in the COSO Framework? a. Control environment b. Risk assessment c. Control activities d. Monitoringarrow_forwardAfter obtaining a sufficient understanding of internal control, the auditor: a. Determines the preliminary assessment of control risk b. Determine the assessed levels of detection risk and inherent risk c. Assess detection risk to determine the acceptable level of inherent risk d. Assess the need to apply GAASarrow_forwardHow are the substantive procedures performed by the audit team related to the objective of MUS?arrow_forward
- Describe FOUR matters that an auditor needs to keep in mind when considering how useful the application of analytical procedures will be as an audit procedure.arrow_forwardDescribe the five types of audit tests. Identify which of the five types are substantive tests, and which are used to reduce assessed control risk.arrow_forwardWhich of the following BEST describes the purpose of the audit planning phase? a) To determine the timing of the audit work. b) To communicate the results of the audit. c) To document the scope, objective(s), preliminary risk assessment and plan for the audit. d) To document the plan for substantive audit requirements.arrow_forward
- Please answer all 3 subparts. Question 1 (i) What are the 5 components of the COSO framework? A. Risk assessment, control environment, control activities, information and communication, monitoringB. Control environment, risk assessment, control activities, information and communication, monitoring.C. Control activities, monitoring, information and communication, control environment monitoringD. Control activities, control environment, risk assessment, monitoring, information and communication (ii) An opinion which is given by the auditor when the financial statements give a true and fair view except for a particular matter, which the auditor explains is called:A. An adverse opinionB. An unmodified opinionC. A qualified opinionD. A disclaimer opinion (iii) Which of the following is NOT a reason why linking reward to performance may not solve remuneration problems?A. Unsuitable measures of performance may be selected B. Many performance measures are based on the short term resultsC.…arrow_forwardChoose three of the skills required for effective operational audits and explain the importance and why these skills are necessary.arrow_forwardWhat are the objectives of ISA 520? O a. To obtain evidence from third parties O b. To obtain the complete audit evidence O c. To obtain relevant and reliable audit evidence when using substantive analytical procedures O d. To plan Over-all audit strategyarrow_forward
- Discuss the types of internal controls and explain how each is important to the auditing process. Explain and give examples of the four main categories of COSO framework regarding management objectives. Please provide refences if there is any.arrow_forwardThe auditor’s risk assessment procedures should always include the following, except a. Inquiries of management and of others within the entity b. Analytical procedures c. Observation and inspection d. Substantive test procedures and tests of controlarrow_forward
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