Questions from Auditing and Assurance

Q: What four circumstances are required for a standard unmodified opinion audit report

What four circumstances are required for a standard unmodified opinion audit report to be issued?

Q: In recent years, globalization of business and factors such as technological

In recent years, globalization of business and factors such as technological disruption, tax reform, trade policies, and changing demographics in the workforce cause uncertainty and volatility in stoc...

Q: What is the auditor’s responsibility when noncompliance with laws or regulations is

What is the auditor’s responsibility when noncompliance with laws or regulations is identified or suspected?

Q: What are the six elements of professional skepticism? Describe two of

What are the six elements of professional skepticism? Describe two of those six elements.

Q: What are the five elements of an effective professional judgment process?

What are the five elements of an effective professional judgment process?

Q: How should the auditor consider risks related to revenue recognition when assessing

How should the auditor consider risks related to revenue recognition when assessing the risk of material misstatement due to fraud?

Q: What types of inquiries should the auditor make when considering the risk

What types of inquiries should the auditor make when considering the risk of material misstatement due to fraud?

Q: What constitutes a significant risk?

What constitutes a significant risk?

Q: For how long does the Sarbanes–Oxley Act require auditors of

For how long does the Sarbanes–Oxley Act require auditors of public companies to retain audit documentation?

Q: This problem requires the use of ACL software, which can be

This problem requires the use of ACL software, which can be accessed through the textbook website. Information about downloading and using ACL and the commands used in this problem can also be found o...