Questions from Auditing and Assurance

Q: What are auditors’ responsibilities for subsequently discovered facts if these are identified

What are auditors’ responsibilities for subsequently discovered facts if these are identified (a) prior to the audit report release date and (b) following the audit report release date?

Q: What is the purpose of dual dating the auditor’s report?

What is the purpose of dual dating the auditor’s report?

Q: Which of the following statements is most likely to be included in

Which of the following statements is most likely to be included in an attorney letter? a. “Certain representations in this letter are described as being limited to matters that are material.” b. “If a...

Q: What steps should auditors take if, after the audit report release

What steps should auditors take if, after the audit report release date, they discover that an important audit procedure was omitted?

Q: Identify information that auditors are required to communicate to individuals charged with

Identify information that auditors are required to communicate to individuals charged with governance of the client.

Q: When reporting under GAAS, certain statements are required in all auditors’

When reporting under GAAS, certain statements are required in all auditors’ reports (“explicit”) and others are required only under certain condit...

Q: Which of the following best describes the role of analytical procedures near

Which of the following best describes the role of analytical procedures near the end of the audit engagement? a. To identify possible deficiencies in the client’s internal control over financial repor...

Q: After the audit report release date, auditors determine that an important

After the audit report release date, auditors determine that an important auditing procedure was omitted. Which of the following initial courses of action is most appropriate? a. Perform the omitted p...

Q: Which of the following statements is not true with respect to written

Which of the following statements is not true with respect to written representations? a. The failure of management to furnish them is a significant scope limitation, resulting in either an adverse op...

Q: What are the major categories of information contained in written representations?

What are the major categories of information contained in written representations?