76.Which of the following factors would least influence an auditor's consideration of the reliability of data for purposes of analytical procedures?

Group of answer choices

Whether the data are obtained from independent sources outside the entity or from sources within the entity

Whether the data are subjected to audit testing in the current or prior year

Whether sources within the entity are independent of those who are responsible for the amount being audited

Whether the data are processed in a computer system or in a manual accounting system

77.The auditor's formal review of subsequent events normally should be extended through the date of the

Group of answer choices

mailing of the financial statements to the stockholders.

next formal interim financial statements.

auditor's report.

delivery of the audit report to the client.

78.Which of the following statements that relates to subsequent events is inappropriately described?

Group of answer choices

The procedures that are designed to obtain sufficiently appropriate audit evidence that all events up to the date of the audit report that may require adjustment of, or disclosure in, the financial statements are in addition to routine procedures which may be applied to specific transactions.

The auditor should consider the effect of subsequent events on the financial statements and on the auditor's report.

The auditor is expected to conduct a continuing review of all matters to which previously applied procedures have provided satisfactory conclusions.

The procedures to identify events that may require adjustment of, or disclosure in, the financial statements would be performed as near as practicable to the date of the auditor's report.

79.Who is responsible for establishing the process and controls for preparing accounting estimates?

Group of answer choices

The independent auditor

The internal auditor

The controller

The management

80.A purpose of a management representation letter is to reduce

Group of answer choices

the scope of an auditor's procedures concerning related party transactions and subsequent events.

audit risk to an aggregate level of misstatement that could be considered material.

the possibility of a misunderstanding concerning management's responsibility for the financial statements.

an auditor's responsibility to detect material misstatements only to the extent that the letter is relied on.