Questions from Auditing and Assurance

Q: Identify which of the major fundamental principles (responsibilities, performance,

Identify which of the major fundamental principles (responsibilities, performance, or reporting) is most closely related to each of the following: a. The need for auditors to consider their financial...

Q: Define reasonable assurance. How does the audit team provide reasonable assurance

Define reasonable assurance. How does the audit team provide reasonable assurance in the engagement?

Q: What is materiality? During what stages of the audit do auditors

What is materiality? During what stages of the audit do auditors consider materiality?

Q: What is the basic relationship between the effectiveness of the client’s internal

What is the basic relationship between the effectiveness of the client’s internal control and the necessary effectiveness of substantive procedures?

Q: Define external, external-internal, and internal documentary evidence.

Define external, external-internal, and internal documentary evidence.

Q: Distinguish between relevance and reliability as these concepts relate to audit evidence

Distinguish between relevance and reliability as these concepts relate to audit evidence. How are relevance and reliability associated with the appropriateness of audit evidence?

Q: What options are available to the auditor for presenting reports on the

What options are available to the auditor for presenting reports on the entity’s financial statements and internal control over financial reporting?

Q: How are the sufficiency and appropriateness of evidence related to detection risk

How are the sufficiency and appropriateness of evidence related to detection risk?

Q: What is a financial reporting framework? How is it related to

What is a financial reporting framework? How is it related to the auditors’ reporting responsibilities?

Q: What are the four types of audit opinions? What is the

What are the four types of audit opinions? What is the conclusion of each one?