Questions from Auditing and Assurance

Q: Comment on the following: “Because of the nature of the

Comment on the following: “Because of the nature of the frameworks the clients use, audits of special-purpose financial reporting frameworks result in an audit report that is restricted for use by tho...

Q: A client has prepared financial statements using a financial reporting framework generally

A client has prepared financial statements using a financial reporting framework generally accepted in another country. The statements are intended only to be used in that country. Describe the audito...

Q: Jane Wilson has prepared personal financial statements in which her assets are

Jane Wilson has prepared personal financial statements in which her assets are valued at her historical cost, less appropriate depreciation. Is this presentation in conformity with generally accepted...

Q: What are the general types of procedures performed during a review of

What are the general types of procedures performed during a review of the quarterly financial statements of a company that has audits of its annual financial statement?

Q: Explain the relationship between assurance services and attestation services.

Explain the relationship between assurance services and attestation services.

Q: Comment on the accuracy of the following: A client’s uncorrected material

Comment on the accuracy of the following: A client’s uncorrected material departure from the suitable criteria identified during an examination conducted under the attest standards is treated as a dep...

Q: What is XBRL? How do assurance services relate to it?

What is XBRL? How do assurance services relate to it?

Q: Is it correct to say that when using nonstatistical variables sampling,

Is it correct to say that when using nonstatistical variables sampling, one is unable to project the misstatements identified to the entire population? Explain why this is or is not the case.

Q: “A company would normally include a financial projection in its annual

“A company would normally include a financial projection in its annual report rather than a financial forecast.” Comment on the validity of this statement.

Q: Describe the major elements of a report on the examination of a

Describe the major elements of a report on the examination of a financial forecast.