NEED ANSWER FOR 1-5

1.S1: The subsequent events period extends to the date of management representation letter and the auditor's report. S2: The failure of management to provide a management representation letter is considered a scope limitation on the audit.*

Only S1 is true.

Only S2 is true.

Both S1 and S2 are true.

Both S1 and S2 are false.

2.S1: The phrase "PFRS or PFRS for SMEs" can be found in the opinion paragraph of a standard unqualified report. S2: Emphasis of Matter paragraph and Other Matter paragraphs result to modifications of auditor's report and, therefore, the auditor's opinion.*

Only S1 is true.

Only S2 is true.

Both S1 and S2 are true.

Both S1 and S2 are false.

3.S1: The auditor may estimate the "estimated population exception rate" by taking a small preliminary sample from the current year's data or by using the prior year's experience with the client. S2: Accounts with zero or negative year-end balances have no chance of being included in a standard probability proportional to size (PPS) sample.*

Only S1 is true.

Only S2 is true.

Both S1 and S2 are true.

Both S1 and S2 are false.

4.S1: When financial statements contain generally accepted accounting principles in the current year that are different from the generally accepted accounting principles used in the preceding year, the auditor will typically make mention on it in the opinion. S2: For a change in accounting principles that management does not justify to the auditor, the auditor has a choice for the audit report between a qualified or an adverse opinion.*

Only S1 is true.

Only S2 is true.

Both S1 and S2 are true.

Both S1 and S2 are false

5.S1: An auditor can issue a disclaimer of opinion because of lack of evidence. S2: The auditor must demand that management make all adjustments, no matter how large or small, prior to signing off on the financial statements.*

Only S1 is true.

Only S2 is true.

Both S1 and S2 are true.

Both S1 and S2 are false.