Auditing And Assurance Services
Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
Question
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Chapter 8, Problem 23.3MCQ
To determine

Identify the correct option that would be least included in the auditor’s engagement letter.

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The use of an audit engagement letter is the best method of assuring the auditor will have which of the following?Select one: a. Cooperation from other auditors b. Auditor will obtain sufficient appropriate audit evidence. c. Access to all books, accounts and vouchers required for audit purpose d. Management representation letter
Which of the following is least likely to be included in the auditor’s engagement letter?(1) Details about the preliminary audit strategy.(2) Overview of the objectives of the engagement.(3) Statement that management is responsible for the financial statements.(4) Description of the level of assurance obtained when conducting the audit.
The auditor should document the overall audit strategy and the audit plan, including any significant changes made to the planned audit strategy during the audit engagement. The auditor may summarize the overall audit strategy in the form of a memorandum. What does not the memorandum encompass? O a. Timing of audit b. Key decisions regarding the overall scope c. Conduct of the audit d. Statement of changes in equity
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