Show a qualified opinion on the financial statements, Ask an Expert

Accounting

Question:

1. After issuance of the auditor's report, the auditor has no obligation to create any further inquiries with respect to audited financial statements covered by an auditor's report unless a

a. Contingency is resolved.

b. Development occurs which can affect the clients ability to continue as a going concern.

c. material defalcation ensues

d. History of important non-arms-length related party transactions is discovered.

2. If the size of the illustration to be used in a particular test of controls has not been calculated by utilizing statistical concepts, but the sample has been selected in accordance with random selection procedures

a. No inferences will be drawn from the sample

b. The auditor has committed a non sampling error

c. Depending on the size of the sample, the auditor mayor can't achieve desired precision

d. The auditor will have to compute the results by reference to the principles of discovery sampling

View complete question

Auditing, Accounting

Category:- Auditing
Reference No.:- M9132713

Have any Question?Write your Review or question?

Related Questions in Auditing

Case - report assignment -background - you are a manager in

Case - Report Assignment - Background - You are a manager in the audit division at Miller Yates Howarth (MYH), an accounting firm with offices throughout the major regional centres of NSW and Queensland. Although a mediu ...

Auditing research essay assignment -for decades audit

Auditing Research Essay Assignment - For decades, audit quality has been placed on the regulatory agenda in many countries such as The U.S., UK, and Australia, etc. In particular, Australia's Federal Treasury has release ...

Audit assurance and compliance assignment -topic how is

Audit, Assurance and Compliance Assignment - Topic: How is Enhanced Auditor Reporting being embraced in Australia? Research Assessment: Download an annual report of an ASX listed company that is in the S&P/ASX 300 list. ...

Auditing assignment - learning outcomes -a explain and

Auditing Assignment - Learning Outcomes - a. Explain and apply the principles, practice and process of auditing to practical situations. b. Research, critique, interpret and communicate current and future auditing issues ...

Topic how is enhanced auditor reporting being embraced in

Topic: How is Enhanced Auditor Reporting being embraced in Australia? Research Assessment: Download an annual report of an ASX listed company that is in the S&P/ASX 300 list. Review all the sections within the selected c ...

Auditing assignment -learning outcomes - explain and apply

Auditing Assignment - Learning Outcomes - Explain and apply the principles, practice and process of auditing to practical situations. Research, critique, interpret and communicate current and future auditing issues to sp ...

Assignment total quality management -question 1 -a a

Assignment total quality management - QUESTION 1 - A. A defense contractor, manufacturers rifles for the military. The military has exerting quality standards that the contractor must meet. The military is very much plea ...

Question 1while assessing the risk of material misstatement

Question 1 While assessing the risk of material misstatement and determining the appropriate response with regard to the inventory of Computing Solutions Limited (Computing Solutions) for the 30 June 2018 audit, you beco ...

Question - research paper on the knowledge of auditing

Question - Research Paper on the knowledge of Auditing Concepts, you can choose any one of the following two titles: Title: AUDITING ENVIRONMENT Identify the risk and liability factors in financial statement audits. Rela ...

Question -1 before accepting the audit engagement the

Question - 1. Before accepting the audit engagement, the auditor has evaluated the client management. Why is this so? 2. At present there is no legal definition of the term "accountant" as a result, any person or firm ca ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Auditing Expert