Question 28. In respect of the International Standards on Auditing (ISAs), which of the following statements is most accurate? ISAs are only applicable to the audit of listed and other public interest companies ISAs contain the general responsibilities of an auditor to be applied in the audit of financial statements SAs should always be adhered to by ACCA members irrespective of the country in which the audit is taking place in the most part ISAs only represent formalisation of existing good practice Question 29. The auditor of Lowes Co is performing a risk assessment during the planning stage of the audit. Which of the following may indicate risks of material misstatement? A new accounting standard is being applied for the first time this year 4) A regulatory authority is investigating Lowes Co's alleged involvement with a price-fixing cartel (ul) A significant business segment has been put up for sale and only (ul) and only and only 0.01) and () Question 27. ISA 200 Overall Objectives of the Independent Auditor and the conduct of an udt in dance with international Standards on Auditing requires the auditor to comply with relevant chical regnements including those pertaining to independence According to the definition of independence, which of the following may be compromised an audit does not appear to be independent) confidentiality Integrity and objectivity Professional copticism Professional competence and due care 2 only 2 only 1.2