Questions from General Auditing

Q: What does reasonable assurance mean?

What does reasonable assurance mean?

Q: What is an emphasis of matter paragraph? When do you think

What is an emphasis of matter paragraph? When do you think an auditor would use it?

Q: What are the auditor’s responsibilities?

What are the auditor’s responsibilities?

Q: Describe the audit expectation gap. What causes the gap?

Describe the audit expectation gap. What causes the gap?

Q: Explain the system of reviewing the quality of audits performed by listed

Explain the system of reviewing the quality of audits performed by listed company auditors.

Q: Explain how compliance with the fundamental principles in the code of professional

Explain how compliance with the fundamental principles in the code of professional conduct contributes to the ability of the auditor to discharge their duty to act in the public interest.

Q: What is the purpose of an engagement letter? What should be

What is the purpose of an engagement letter? What should be included in an engagement letter?

Q: Which is more important, independence in fact or independence in appearance

Which is more important, independence in fact or independence in appearance? Explain.

Q: Identify and discuss any professional conduct issues in the following independent scenarios

Identify and discuss any professional conduct issues in the following independent scenarios. a. Jason Crane became a CPA in 2020. He is now glad to be finished his education as he does not plan to tak...

Q: Self-interest, self-review, and familiarity threats all

Self-interest, self-review, and familiarity threats all arise from an inappropriate closeness between the auditor and the client. Explain how that closeness is likely to manifest in each case and why...