Questions from Auditing and Assurance

Q: Compare the objectives of the internal auditors with those of the independent

Compare the objectives of the internal auditors with those of the independent auditors.

Q: What consideration, if any, may external auditors give to the

What consideration, if any, may external auditors give to the work of a client’s internal audit staff?

Q: Describe the relationship between corporate governance and internal control.

Describe the relationship between corporate governance and internal control.

Q: What are the purposes of the consideration of internal control required by

What are the purposes of the consideration of internal control required by generally accepted auditing standards?

Q: What information should a CPA firm seek in its investigation of a

What information should a CPA firm seek in its investigation of a prospective client?

Q: A prospective client informs you that all officers and employees of the

A prospective client informs you that all officers and employees of the company are bonded, and he requests that under these circumstances you forgo a consideration of internal control in order to red...

Q: Suggest a number of sources from which you might obtain the information

Suggest a number of sources from which you might obtain the information needed to prepare a description of internal control in the audit working papers.

Q: All experienced auditors would design exactly the same audit plan (program

All experienced auditors would design exactly the same audit plan (program) for a particular audit engagement.” Do you agree? Explain.

Q: Under what circumstances are tests of controls efficient audit procedures?

Under what circumstances are tests of controls efficient audit procedures?

Q: How is the auditors’ understanding of the client’s internal control documented in

How is the auditors’ understanding of the client’s internal control documented in the audit working papers?