Questions from Auditing and Assurance

Q: List the tools that can document the understanding of internal control.

List the tools that can document the understanding of internal control.

Q: What are the requirements under auditing standards for documenting the assessed level

What are the requirements under auditing standards for documenting the assessed level of control risk?

Q: Under what circumstances would an auditor disclaim an opinion on the effectiveness

Under what circumstances would an auditor disclaim an opinion on the effectiveness of an entity’s ICFR?

Q: Under what circumstances would an auditor give an adverse opinion on the

Under what circumstances would an auditor give an adverse opinion on the effectiveness of an entity’s ICFR?

Q: The auditor should evaluate the qualitative aspects of deviations found in a

The auditor should evaluate the qualitative aspects of deviations found in a sampling application. What are the purposes of evaluating the qualitative aspects of deviations?

Q: Identify three possible disclosure issues for payroll expense and payroll-related

Identify three possible disclosure issues for payroll expense and payroll-related liabilities.

Q: a. Go to the AICPA’s website (www.aicpa.

a. Go to the AICPA’s website (www.aicpa.org). Find the AICPA’s mission statement (currently under the link “About the AICPA” at the bottom of their homepage). Read and briefly summarize the AICPA’s mi...

Q: What are the key authorization points in a payroll system?

What are the key authorization points in a payroll system?

Q: Why is it important for the entity to establish control activities over

Why is it important for the entity to establish control activities over the classification of payroll transactions?

Q: What are some possible causes of book-to-physical inventory

What are some possible causes of book-to-physical inventory differences?