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can someone please help me with the answers? thank you If a restriction on the scope of the audit exists, the auditors should (i) Withdraw
can someone please help me with the answers?
thank you
If a restriction on the scope of the audit exists, the auditors should (i) Withdraw from the engagement (ii) Disclaim an opinion a. (i) only b.(ii) only c, Either (i) or (ii) d. Both (1) and (ii) The objective of understanding internal control is to provide an auditor a. with knowledge necessary planning b. with evidential matter to use in assessing inherent risk c. with a basis for modifying test of controls policies d. with a evaluation of the application of management's policies If material weaknesses exist at December 31, 2009 year end and it is subsequently corrected before the audit report on the financial statements is issued, the auditor should issue an a. unqualified. qualified c. adverse d. none of the above An independent auditor of internal control must communicate which of the following to the client's audit committee (1) Significant deficiency (2) Material weakness a. Only (1) b. Only (2) c. neither (1) nor (2) d. Both (1) and (2) Which of the following is not a typical question asked during a walk-through a. What type of errors have you found? b. how are errors handled when they are discovered? c. Have you ever been asked to override a control measure? d. what was the last illegal transaction you have processed? Regardless of the assessed level of control risk, an auditor must perform a. tests of control to determine the effectiveness of internal control b. analytical procedures to verify the design of internal control c. substantive tests to restrict detection risk d. test to evaluate the risk of monetary misstatement An Audit of Internal control over financial reporting assesses internal control a. As of the last day of the auditors fieldwork b. as of the last day of the fiscal year c. for the entire fiscal period auditors fieldwork d. for the entire period plus the period plus the period of the auditors fieldworkStep by Step Solution
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