Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Question
Chapter 5, Problem 13RQ
To determine
Provide four specialists whose findings might provide appropriate evidence for the independent auditors.
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Students have asked these similar questions
list the four types of information the auditor should obtain or review as a part of gaining background information for the audit, and provide one specific example of how the information will be useful in conducting an audit.
Besides the search for contingent liabilities and the review for subsequent events, the auditor has four important final evidence accumulation responsibilities, all of which are required by current professional auditing standards. Discuss each of these four responsibilities.
Describe the quality of following types of evidence giving two examples of each form of evidence
i) Evidence originated by the auditor
ii) Evidence created by third parties
iii)Evidence created by the management of the client
b) Describe the general considerations which auditors must bear in mind when evaluating audit evidence
Chapter 5 Solutions
Principles Of Auditing & Other Assurance Services
Ch. 5 - Prob. 1RQCh. 5 - Prob. 2RQCh. 5 - Prob. 3RQCh. 5 - Distinguish among routine, nonroutine, and...Ch. 5 - Prob. 5RQCh. 5 - Prob. 6RQCh. 5 - Prob. 7RQCh. 5 - As part of the verification of accounts receivable...Ch. 5 - Prob. 9RQCh. 5 - When in the course of an audit might the auditors...
Ch. 5 - Prob. 11RQCh. 5 - Prob. 12RQCh. 5 - Prob. 13RQCh. 5 - Prob. 14RQCh. 5 - Prob. 15RQCh. 5 - Prob. 16RQCh. 5 - Prob. 17RQCh. 5 - Prob. 18RQCh. 5 - Prob. 19RQCh. 5 - What disclosures should be made in the financial...Ch. 5 - Prob. 21RQCh. 5 - Prob. 22RQCh. 5 - Prob. 23RQCh. 5 - Prob. 24RQCh. 5 - Prob. 25RQCh. 5 - Prob. 26RQCh. 5 - Prob. 27RQCh. 5 - Prob. 28RQCh. 5 - Prob. 29RQCh. 5 - Prob. 30RQCh. 5 - Prob. 31RQCh. 5 - I have finished my testing of footings of the cash...Ch. 5 - Prob. 33RQCh. 5 - Prob. 34RQCh. 5 - Financial statements contain a number of...Ch. 5 - Prob. 36QRACh. 5 - In an audit of financial statements, the auditors...Ch. 5 - Prob. 38QRACh. 5 - Prob. 39QRACh. 5 - Prob. 40QRACh. 5 - Prob. 41QRACh. 5 - Prob. 42QRACh. 5 - Prob. 43QRACh. 5 - Prob. 44QRACh. 5 - Prob. 45AOQCh. 5 - Prob. 45BOQCh. 5 - Prob. 45COQCh. 5 - Prob. 45DOQCh. 5 - Prob. 45EOQCh. 5 - Prob. 45FOQCh. 5 - Prob. 45GOQCh. 5 - Prob. 45HOQCh. 5 - Prob. 45IOQCh. 5 - Prob. 45JOQCh. 5 - Prob. 45KOQCh. 5 - A difference of opinion concerning accounting and...Ch. 5 - Prob. 46OQCh. 5 - Prob. 47OQCh. 5 - Prob. 48AOQCh. 5 - Prob. 48BOQCh. 5 - Prob. 48COQCh. 5 - The cost of analytical procedures in terms of time...Ch. 5 - Prob. 48EOQCh. 5 - Prob. 49OQCh. 5 - Prob. 50PCh. 5 - Prob. 51PCh. 5 - Prob. 52PCh. 5 - Prob. 53PCh. 5 - Prob. 54PCh. 5 - Prob. 55PCh. 5 - Prob. 56P
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Similar questions
- What are five criteria there for assessing the reliability of audit evidence?arrow_forwardAudit evidence is influenced by the source, nature and circumstances under which it is obtained. What are five criteria there for assessing the reliability of audit evidence?arrow_forwardThe first stage when an auditor considers the use of an expert is: a) assessing the objectivity of the expert. b) assessing the need to use an expert. c) assessing the expert's report. d) determining the scope of the work to be carried out.arrow_forward
- Mention, a few characteristics(Atleast ten) that are important for an auditor to have?arrow_forwardList the seven parts of a standard unqualified audit report and explain the meaning of each part. How do the parts compare with those found in a qualified report?arrow_forwardYou have been asked by the audit manager to undertake preliminary analytical procedures.a) Identify the sources of information from which an auditor develops expectations.b) Describe the factors that influence an auditor’s consideration of the reliability of data for purposes of achieving audit objectives.arrow_forward
- Explain the main areas of focus in the general accepted auditing standards. Explain four actions that an audit firm could use to minimize its liability and prevent lawsuit.arrow_forward1. Describe the quality of following types of evidence giving two examples of each form of evidence i. Evidence originated by the auditorii. Evidence created by third partiesiii. Evidence created by the management of the client 2. Describe the general considerations which auditors must bear in mind when evaluating audit evidencearrow_forwardA.“It is the auditors’responsibility to gather sufficient appropriate evidence to reachtheir opinion. Discuss the above statement by explaining the differences between the evidence’s sufficiency and appropriateness. Your answer should include a discussion of two types of audit evidence.arrow_forward
- Identify the three categories of client objectives. Indicate how each objective may affect the auditor’s assessment of risk of material misstatement and need for evidence accumulation.arrow_forwardGenerally accepted auditing standards (the performance principle) require auditors to gather sufficient appropriate evidence on which to base an opinion.Required:a. Briefly define the characteristics “sufficient” and “appropriate” as they relate to audit evidence.b. What are relevance and reliability (as they relate to audit evidence)? How do these concepts relate to the auditors’ requirement to gather sufficient appropriate evidence?c. How does the source of evidence affect its reliability?d. How does the effectiveness of the entity’s internal control affect the sufficiency and appropriateness of evidence gathered by auditors?arrow_forwardWhat are the procedures available to auditors in auditing accounts payable and what level of assurance is obtained by each? Describe at least three. Which primary assertion is tested through these approaches?arrow_forward
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