Questions from Auditing and Assurance

Q: What types of events would generally require restatement of the issued financial

What types of events would generally require restatement of the issued financial statements? What procedures should the auditor follow when the entity refuses to cooperate and make the necessary discl...

Q: What information does the auditor ask the attorney to provide on pending

What information does the auditor ask the attorney to provide on pending or threatened litigation?

Q: Provide two examples of commitments. Under what conditions do such commitments

Provide two examples of commitments. Under what conditions do such commitments result in a decrease in Other Comprehensive Income?

Q: What are the types of subsequent events relevant to financial statement audits

What are the types of subsequent events relevant to financial statement audits? Give one example of each type of subsequent event that might materially affect the financial statements.

Q: Under what circumstances would the auditor dual date an audit report?

Under what circumstances would the auditor dual date an audit report?

Q: Are analytical procedures required as part of the final overall review of

Are analytical procedures required as part of the final overall review of the financial statements? What is the purpose of such analytical procedures?

Q: Describe the purposes of an independent engagement quality review by a quality

Describe the purposes of an independent engagement quality review by a quality review partner.

Q: List the four overall steps in the auditor’s going concern evaluation process

List the four overall steps in the auditor’s going concern evaluation process.

Q: Define, and differentiate between, nonstatistical (judgmental) sampling and

Define, and differentiate between, nonstatistical (judgmental) sampling and statistical sampling.

Q: When using attributes sampling, the auditors must estimate the expected population

When using attributes sampling, the auditors must estimate the expected population deviation rate. What sources are used to make this estimate?