Which statement best describes the emphasis of the systems and substantive approaches in the audit plan? a. A thoroughly designed systems approach to auditing can eliminate the need for any substantive procedures. b. The systems approach focuses on detailed testing of specific accounts for accuracy, while the substantive approach is the testing controls to make sure they are effective. c. The systems approach focuses on testing controls to make sure they are effective, while the substantive approach is the detailed testing of specific accounts for accuracy. d. The systems approach focuses on the use of computer systems to aid in the audit while the substantive approach focuses on more manual tests

Which statement best describes the
emphasis of the systems and substantive
approaches in the audit plan?
a. A thoroughly designed systems approach
to auditing can eliminate the need for
any substantive procedures.
b. The systems approach focuses on
detailed testing of specific accounts for
accuracy, while the substantive approach
is the testing controls to make sure they
are effective.
c. The systems approach focuses on
testing controls to make sure they
are effective, while the substantive
approach is the detailed testing of
specific accounts for accuracy.
d. The systems approach focuses on the
use of computer systems to aid in the
audit while the substantive approach
focuses on more manual tests
by

1 Answer

Answer :

The systems approach focuses on
testing controls to make sure they
are effective, while the substantive
approach is the detailed testing of
specific accounts for accuracy
by

Related questions

An audit plan is a a. Detailed plan of analytical procedures and all substantive tests to be performed in the course of the audit. b. Document that provides an overview of the company and a general plan for the audit work to be accomplished, timing of the work, and other matters of concern to the audit. c. Generic document that auditing firms have developed to lead the process of the audit through a systematic and logical process. d. Budget of the time that should be necessary to complete each phase of the audit procedure

Description : An audit plan is a a. Detailed plan of analytical procedures and all substantive tests to be performed in the course of the audit. b. Document that provides an overview of the company and a ... process. d. Budget of the time that should be necessary to complete each phase of the audit procedure

Last Answer : Document that provides an overview of the company and a general plan for the audit work to be accomplished, timing of the work, and other matters of concern to the audit.

An audit plan is a a. Detailed plan of analytical proceduresand all substantive tests to be performedin the course of the audit.b. Generic document that auditing firmshave developed to lead the process ofthe audit through a systematic andlogical process.c. Budget of the time that should benecessary to complete each phase of theaudit procedures.d. Document that provides an overviewof the company and a general planfor the audit work to beaccomplished, timing of the work,and other matters of concern to theaudit

Description : An audit plan is a a. Detailed plan of analytical proceduresand all substantive tests to be performed in the course of the audit. b. Generic document that auditing firms have developed to lead the ... audit work to be accomplished, timing of the work, and other matters of concern to the audit

Last Answer : Document that provides an overview of the company and a general plan for the audit work to be accomplished, timing of the work, and other matters of concern to the audit

An auditor should design the written audit program so that a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized. c. Each account balance will be tested under either tests of controls or tests of transactions. d. The audit procedures selected will achieve specific audit objectives

Description : An auditor should design the written audit program so that a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date ... controls or tests of transactions. d. The audit procedures selected will achieve specific audit objectives

Last Answer : The audit procedures selected will achieve specific audit objectives

An auditor should design a written audit program so that: a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized. c. The audit procedures selected will achieve specific audit objectives. d. Each account balance will be tested under either tests of controls or tests of transactions

Description : An auditor should design a written audit program so that: a. All material transactions will be selected for substantive testing. b. Substantive tests prior to the balance sheet date will be minimized ... . d. Each account balance will be tested under either tests of controls or tests of transactions

Last Answer : The audit procedures selected will achieve specific audit objectives

In the planning stage of an audit engagement, the auditor is required to perform audit procedures to obtain an understanding of the entity and its environment, including its internal control. These procedures are called a. Substantive tests b. Tests of controls c. Risk assessment procedures d. Dual-purpose tests

Description : In the planning stage of an audit engagement, the auditor is required to perform audit procedures to obtain an understanding of the entity and its environment, including its internal control. These ... a. Substantive tests b. Tests of controls c. Risk assessment procedures d. Dual-purpose tests

Last Answer : Risk assessment procedures

An auditor is required to obtain a basic understanding of the client's internal control to plan the audit. The auditor may then decide to perform tests of controls on alinternal control procedures a. That would aid in preventing fraud. b. Documented in the flowchart. c. Considered to be weaknesses that might allow errors to enter the accounting system. d. Considered to be strengths for which the auditor desires further reduction in the assessed level of control risk.l

Description : An auditor is required to obtain a basic understanding of the client's internal control to plan the audit. The auditor may then decide to perform tests of controls on all internal control ... to be strengths for which the auditor desires further reduction in the assessed level of control risk.

Last Answer : Considered to be strengths for which the auditor desires further reduction in the assessed level of control risk.

Internal auditing can affect the scope of the external auditor's audit of financial statements by a. Decreasing the external auditor's need to perform detailed testsb. Eliminating the need to observe thephysical inventory taking.c. Allowing the external auditor to limithis/her audit to the performance ofsubstantive test procedures.d. Limiting direct testing by the externalauditor to management assertions notdirectly tested by internal auditing.

Description : Internal auditing can affect the scope of the external auditor's audit of financial statements by a. Decreasing the external auditor's need to perform detailed tests b. Eliminating the need ... direct testing by the external auditor to management assertions not directly tested by internal auditing.

Last Answer : Decreasing the external auditor's need to perform detailed tests

The external auditor should obtain a sufficient understanding of the internal audit function because a. The understanding of the internal audit function is an important substantive test to be performed by the external auditor. b. The audit programs, working papers, and reports of internal auditors may often be used as a substitute for the work of the external auditor's staff. c. The procedures performed by the internal audit staff may eliminate the external auditor's need for considering internal control. d. The work performed by internal auditors may be a factor in determining the nature, timing, and extent of the external auditor's procedures.

Description : The external auditor should obtain a sufficient understanding of the internal audit function because a. The understanding of the internal audit function is an important substantive test to be performed by ... factor in determining the nature, timing, and extent of the external auditor's procedures.

Last Answer : The work performed by internal auditors may be a factor in determining the nature, timing, and extent of the external auditor's procedures.

An audit program is a. A generic document that auditing firms have developed to lead the process of the audit through a systematic and logical process. b. An overview of the company and a general plan for the audit work to be accomplished. c. The detailed plan of audit procedures to be performed in the course of the audit. d. A budget of the time that should be necessary to complete each phase of the audit procedures

Description : An audit program is a. A generic document that auditing firms have developed to lead the process of the audit through a systematic and logical process. b. An overview of the company and a general ... d. A budget of the time that should be necessary to complete each phase of the audit procedures

Last Answer : The detailed plan of audit procedures to be performed in the course of the audit.

Which of the following procedures ordinarily performed during an audit are also performed in review? a. Assessment of accounting and internal control systems b. Test of controls c. Tests of records and of responses to inquiries d. Inquiry and analytical procedures

Description : Which of the following procedures ordinarily performed during an audit are also performed in review? a. Assessment of accounting and internal control systems b. Test of controls c. Tests of records and of responses to inquiries d. Inquiry and analytical procedures

Last Answer : Inquiry and analytical procedures

Which of the following statements concerning analytical procedures is true? a. Analytical procedures are more efficient, but not more effective, than tests of details of transactions. b. Analytical procedures used as risk assessment procedures use data aggregated at a high level. c. Analytical procedures can replace tests of controls in gathering audit evidence to support the assessed level of control risk. d. Analytical procedures usually involve comparisons of ratios developed from recorded amounts with ratios developed by management

Description : Which of the following statements concerning analytical procedures is true? a. Analytical procedures are more efficient, but not more effective, than tests of details of transactions. ... usually involve comparisons of ratios developed from recorded amounts with ratios developed by management

Last Answer : Analytical procedures used as risk assessment procedures use data aggregated at a high level.

Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on erring CPAs in audit practice. c. To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines. d. To undertake continuing research on both auditing and financial accounting in order to make them responsive to the needs of the public

Description : Which of the following mostly describes the function of AASC? a. To monitor full compliance by auditors to PSAs. b. To assist the Board of Accountancy in conducting administrative proceedings on ... both auditing and financial accounting in order to make them responsive to the needs of the public

Last Answer : To promulgate auditing standards, practices and procedures that shall be generally accepted by the accounting profession in the Philippines.

Which of the following factors would most likely cause a CPA to decide not to accept a new audit engagement? a. The CPA’s lack of understanding of the prospective client’s internal auditor’s computer-assisted audit techniques. b. Management’s disregard of its responsibility to maintain an adequate internal control environment. c. The CPA’s inability to determine whether related-party transactions were consummated on terms equivalent to arm’s-length transactions. d. Management’s refusal to permit the CPA to perform substantive tests before the year-end.

Description : Which of the following factors would most likely cause a CPA to decide not to accept a new audit engagement? a. The CPA's lack of understanding of the prospective client's internal auditor's ... . d. Management's refusal to permit the CPA to perform substantive tests before the year-end.

Last Answer : Management’s disregard of its responsibility to maintain an adequate internal control environment

The internal auditing profession has advanced primarily as a result of a. Increased interest by Bachelor of Science in Accountancy (BSA) graduates and experienced auditors. b. The limitation of financial statement audit scope. c. Job qualification specifications that include added emphasis on background knowledge and skills. d. Increased complexity and sophistication of business operations.

Description : The internal auditing profession has advanced primarily as a result of a. Increased interest by Bachelor of Science in Accountancy (BSA) graduates and experienced auditors. b. The ... emphasis on background knowledge and skills. d. Increased complexity and sophistication of business operations.

Last Answer : Increased complexity and sophistication of business operations.

A successor auditor most likely would make specific inquiries of the predecessor auditor regarding a. Specialized accounting principles of the client's industry. b. Disagreements with management as to auditing procedures. c. The competency of the client's internal audit staff. d. The uncertainty inherent in applying sampling procedures.

Description : A successor auditor most likely would make specific inquiries of the predecessor auditor regarding a. Specialized accounting principles of the client's industry. b. Disagreements with management as to ... the client's internal audit staff. d. The uncertainty inherent in applying sampling procedures.

Last Answer : Disagreements with management as to auditing procedures

Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding a. Disagreements the predecessor had with the client concerning auditing procedures and accounting principles. b. The predecessor’s evaluation of matters of continuing accounting significance. c. The degree of cooperation the predecessor received concerning the inquiry of the client’s lawyer. d. The predecessor’s assessments of inherent risk and judgments about materiality

Description : Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding a. Disagreements the predecessor had with the client concerning auditing ... lawyer. d. The predecessor's assessments of inherent risk and judgments about materiality

Last Answer : Disagreements the predecessor had with the client concerning auditing procedures and accounting principles.

Which of the following is considered a primary reason for creating an internal audit department? a. To safeguard resources entrusted to the organization. b. To evaluate and improve the effectiveness of control processes. c. To ensure the accuracy, reliability, and timeliness of financial and operating data used in management's decision making. d. To relieve management of the responsibility for establishing effective controls

Description : Which of the following is considered a primary reason for creating an internal audit department? a. To safeguard resources entrusted to the organization. b. To evaluate and improve the ... 's decision making. d. To relieve management of the responsibility for establishing effective controls

Last Answer : To evaluate and improve the effectiveness of control processes.

After studying and evaluating a client's existing internal control, an auditor has concluded that the policies and procedures are well-designed and functioning as intended. Under these circumstances, the auditor would most likely a. Perform further control tests to the extent outlined in the audit program. b. Determine the control policies and procedures that should prevent or detect errors and fraud. c. Set detection risk at a higher level than would be set under conditions of weak internal control. d. Set detection risk at a lower level than would be set under conditions of weak internal control.

Description : After studying and evaluating a client's existing internal control, an auditor has concluded that the policies and procedures are well-designed and functioning as intended. Under these circumstances, the ... risk at a lower level than would be set under conditions of weak internal control.

Last Answer : Set detection risk at a higher level than would be set under conditions of weak internal control.

The overriding objective of the International Auditing Standards that are issued by the International Auditing Practices Committee of the IFAC is a. To override a country’s regulations governing the audit of financial statements. b. To improve the uniformity of auditing practices and related services throughout the world. c. To provide a uniform application of specific audit procedures that are acceptable worldwide. d. To replace generally accepted auditing standards.

Description : The overriding objective of the International Auditing Standards that are issued by the International Auditing Practices Committee of the IFAC is a. To override a country's regulations governing ... audit procedures that are acceptable worldwide. d. To replace generally accepted auditing standards.

Last Answer : To improve the uniformity of auditing practices and related services throughout the world

The overriding objective of the International Auditing Standards that are issued by the International Auditing Practices Committee of the IFAC is a. To override a country’s regulations governing the audit of financial statements. b. To improve the uniformity of auditing practices and related services throughout the world. c. To provide a uniform application of specific audit procedures that are acceptable worldwide. d. To replace generally accepted auditing standards

Description : The overriding objective of the International Auditing Standards that are issued by the International Auditing Practices Committee of the IFAC is a. To override a country's regulations ... specific audit procedures that are acceptable worldwide. d. To replace generally accepted auditing standards

Last Answer : To improve the uniformity of auditing practices and related services throughout the world.

.Prior to beginning the field work on a new audit engagement in which a CPA does not possess expertise in the industry in which the client operates, the CPA should a. Reduce audit risk by lowering the preliminary levels of materiality. b. Design special substantive tests to compensate for the lack of industry expertise. c. Engage financial experts familiar with the nature of the industry. d. Obtain a knowledge of matters that relates to the nature of the entity's business

Description : .Prior to beginning the field work on a new audit engagement in which a CPA does not possess expertise in the industry in which the client operates, the CPA should a. Reduce audit risk by lowering ... the industry. d. Obtain a knowledge of matters that relates to the nature of the entity's business

Last Answer : Obtain a knowledge of matters that relates to the nature of the entity's business

Prior to beginning fieldwork on a new audit engagement in which a CPA does not possess industry expertise, the CPA should a. Obtain knowledge of matters that relate to the nature of the entity's business and industry. b. Reduce audit risk by lowering the preliminary levels of materiality. c. Engage financial experts who are familiar with the nature of the industry. d. Design special substantive tests to compensate for the lack of industry expertise.

Description : Prior to beginning fieldwork on a new audit engagement in which a CPA does not possess industry expertise, the CPA should a. Obtain knowledge of matters that relate to the nature of the ... of the industry. d. Design special substantive tests to compensate for the lack of industry expertise.

Last Answer : Obtain knowledge of matters that relate to the nature of the entity's business and industry

For initial audits, additional matters the auditor may consider in the overall audit strategy and audit plan include the following except a. Major issues including the application of accounting principles or any auditing and reporting standards discussed with management. b. Confirmation of material accounts receivable balance at the end of the year. c. Planned audit procedure to obtain sufficient appropriate audit evidence regarding opening balances. d. Assignment of firm personnel with appropriate levels of capabilities and competence to respond to anticipated significant risks

Description : For initial audits, additional matters the auditor may consider in the overall audit strategy and audit plan include the following except a. Major issues including the application of ... firm personnel with appropriate levels of capabilities and competence to respond to anticipated significant risks

Last Answer : Confirmation of material accounts receivable balance at the end of the year.

Which of the following best describes the operational audit? a. It requires the constant review by internal auditors of the administrative controls as they relate to operations othe company. b. It concentrates on implementing financial and accounting control in a newly organized company. c. It concentrates on seeking out aspects of operations in which waste would be reduced by the introduction of controls. d. It attempts and is designed to verify the fair presentation of a company's results of operations.f

Description : Which of the following best describes the operational audit? a. It requires the constant review by internal auditors of the administrative controls as they relate to operations ofthe company. b. It ... attempts and is designed to verify the fair presentation of a company's results of operations.

Last Answer : It concentrates on seeking out aspects of operations in which waste would be reduced by the introduction of controls

Auditors perform analytical procedures in the planning stage of an audit for the purpose of: a. Determining which of the financial statement assertions are the most important for the client's financial statements. b. Determining the nature, timing, and extent of audit procedures for auditing the inventory. c. Deciding the matters to cover in an engagement. d. Identifying unusual conditions that deserve more auditing effort

Description : Auditors perform analytical procedures in the planning stage of an audit for the purpose of: a. Determining which of the financial statement assertions are the most important for the client's ... matters to cover in an engagement. d. Identifying unusual conditions that deserve more auditing effort

Last Answer : Identifying unusual conditions that deserve more auditing effort

Which of the following is incorrect regarding a compilation engagement? a. The CPA uses his auditing expertise to collect, classify and summarize financial information. b. The CPA should exercise due care. c. The engagement ordinarily entails reducing detailed data to a manageable and understandable form. d. The procedures performed do not enable the accountant to express any form of assurance.

Description : Which of the following is incorrect regarding a compilation engagement? a. The CPA uses his auditing expertise to collect, classify and summarize financial information. b. The CPA should exercise due ... . d. The procedures performed do not enable the accountant to express any form of assurance.

Last Answer : The CPA uses his auditing expertise to collect, classify and summarize financial information

Which of the following is incorrect regarding a compilation engagement? a. The CPA uses his auditing expertise to collect, classify and summarize financial information. b. The CPA should exercise due care. c. The engagement ordinarily entails reducing detailed data to a manageable and understandable form. d. The procedures performed do not enable the accountant to express any form of assurance

Description : Which of the following is incorrect regarding a compilation engagement? a. The CPA uses his auditing expertise to collect, classify and summarize financial information. b. The CPA should exercise due ... form. d. The procedures performed do not enable the accountant to express any form of assurance

Last Answer : The CPA uses his auditing expertise to collect, classify and summarize financial information.

An objective of a performance audit is to determine whether an entity's a. Operational information is in accordance with government auditing standardsb. Specific operating units arefunctioning economically andefficiently.c. Financial statements present fairly theresults of operations.d. Internal control is adequatelyoperating as designed

Description : An objective of a performance audit is to determine whether an entity's a. Operational information is in accordance with government auditing standards b. Specific operating units are functioning ... present fairly the results of operations. d. Internal control is adequately operating as designed

Last Answer : Specific operating units are functioning economically and efficiently

Which statement is correct regarding the relationship between internal auditing and the external auditor? a. Some judgments relating to the audit of the financial statements are those of the internal auditor. b. The external audit function's objectives vary according to management's requirements. c. Certain aspects of internal auditing may be useful in determining the nature, timing and extent of external audit procedures. d. The external auditor is responsible for the audit opinion expressed, however that responsibility may be reduced by any use made of internal auditing

Description : Which statement is correct regarding the relationship between internal auditing and the external auditor? a. Some judgments relating to the audit of the financial statements are those of the ... opinion expressed, however that responsibility may be reduced by any use made of internal auditing

Last Answer : Certain aspects of internal auditing may be useful in determining the nature, timing and extent of external audit procedures.

Which of the following is most likely to be an overall response to fraud risks identified in an audit? a. Only use certified public accountants on the engagemenb. Place increased emphasis on the audit of objective transactions rather than subjective transactions. c. Supervise members of the audit team less closely and rely more upon judgment. d. Use less predictable audit procedures.t

Description : Which of the following is most likely to be an overall response to fraud risks identified in an audit? a. Only use certified public accountants on the engagement b. Place increased emphasis on the ... the audit team less closely and rely more upon judgment. d. Use less predictable audit procedures.

Last Answer : Use less predictable audit procedures.

Which of the following is most likely to be an overall response to fraud risks identified in an audit? a. Supervise members of the audit team less closely and rely more upon judgment. b. Use less predictable audit procedures. c. Use only certified public accountants on the engagement. d. Place increased emphasis on the audit of objective transactions rather than subjective transactions.

Description : Which of the following is most likely to be an overall response to fraud risks identified in an audit? a. Supervise members of the audit team less closely and rely more upon ... engagement. d. Place increased emphasis on the audit of objective transactions rather than subjective transactions.

Last Answer : Use less predictable audit procedures.

Which of the following is most likely to be an overall response to fraud risks identified in an audit? a. Supervise members of the audit team less closely and rely more upon judgment. b. Only use certified public accountants on the engagement. c. Place increased emphasis on the audit of objective transactions rather than subjective transactions. d. Use less predictable audit procedures.

Description : Which of the following is most likely to be an overall response to fraud risks identified in an audit? a. Supervise members of the audit team less closely and rely more upon ... the audit of objective transactions rather than subjective transactions. d. Use less predictable audit procedures.

Last Answer : Use less predictable audit procedures.

Which of the following least likely limits the auditor’s ability to detect material misstatement? a. The inherent limitations of any accounting and internal control system. b. Most audit evidences are conclusive rather than being persuasive. c. Audit is based on testing d. Audit procedures that are effective in detecting ordinary misstatements are ineffective in detecting intentional misstatements

Description : Which of the following least likely limits the auditor's ability to detect material misstatement? a. The inherent limitations of any accounting and internal control system. b ... procedures that are effective in detecting ordinary misstatements are ineffective in detecting intentional misstatements

Last Answer : Most audit evidences are conclusive rather than being persuasive

Whenever a CPA professional is engaged to perform an audit of financial statements according to Philippine Standards on Auditing, he required to comply with those standards in order to a. Eliminate audit risk. b. Eliminate the professional judgment in resolving audit issues. c. Have a measure of the quality of audit performance. d. To reduce the audit program to be prepared by the auditor.

Description : Whenever a CPA professional is engaged to perform an audit of financial statements according to Philippine Standards on Auditing, he required to comply with those standards in order to a. Eliminate audit risk ... of audit performance. d. To reduce the audit program to be prepared by the auditor.

Last Answer : Have a measure of the quality of audit performance.

Which of the following auditor concerns most likely could be so serious that the auditor concludes that a financial statement audit cannot be conducted? a. The entity has no formal written code of conduct b. The integrity of the entity’s management is suspect c. Procedures requiring segregation of duties are subject to management override d. Management fails to modify prescribed controls for changes in conditions

Description : Which of the following auditor concerns most likely could be so serious that the auditor concludes that a financial statement audit cannot be conducted? a. The entity has no formal written ... subject to management override d. Management fails to modify prescribed controls for changes in conditions

Last Answer : The integrity of the entity’s management is suspect

An audit made in accordance with Philippine Standards on Auditing generally should a. Be expected to provide assurance that noncompliance with laws and regulations will be detected if the internal control is effective. b. Be relied upon to disclose indirect-effect noncompliance with laws and regulations. c. Encompass a plan to search actively for noncompliance with laws and regulations which relate to operating aspects. d. Not be relied upon to provide assurance that all noncompliance with laws and regulations will be detected

Description : An audit made in accordance with Philippine Standards on Auditing generally should a. Be expected to provide assurance that noncompliance with laws and regulations will be detected if the internal ... relied upon to provide assurance that all noncompliance with laws and regulations will be detected

Last Answer : Not be relied upon to provide assurance that all noncompliance with laws and regulations will be detected

Choose one of the following which would describe best the phrase "generally accepted auditing standards": a. They identify the policies and procedures for the conduct of the audit. b. They define the nature and extent of the auditor's responsibilities. c. They provide guidance to the auditor with respect to planning the audit and writing the audit report. d. They set forth a measure a measure of the quality of the performance of audit procedures.

Description : Choose one of the following which would describe best the phrase "generally accepted auditing standards": a. They identify the policies and procedures for the conduct of the audit. b. They define the ... d. They set forth a measure a measure of the quality of the performance of audit procedures.

Last Answer : They set forth a measure a measure of the quality of the performance of audit procedures.

In all cases, audit reports must a. Communicate the auditor’s finding to the general public. b. Be signed by the individual who performed the audit procedures. c. Certify the accuracy of the quantitative information which was audited. d. Inform readers of the degree of correspondence between the quantifiable information and the established criteria

Description : In all cases, audit reports must a. Communicate the auditor's finding to the general public. b. Be signed by the individual who performed the audit procedures. c. Certify the ... . Inform readers of the degree of correspondence between the quantifiable information and the established criteria

Last Answer : Inform readers of the degree of correspondence between the quantifiable information and the established criteria

In an engagement to perform agreed-upon procedures, an auditor is engaged to: a. Use accounting expertise as opposed to auditing expertise to collect, classify, and summarize financial information. b. Provide a moderate level of assurance that the information is free of material misstatement. c. Provide a high, but not absolute, level of assurance that the information is free of material misstatement. d. Carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings

Description : In an engagement to perform agreed-upon procedures, an auditor is engaged to: a. Use accounting expertise as opposed to auditing expertise to collect, classify, and summarize financial information. b ... and the entity and any appropriate third parties have agreed and to report on factual findings

Last Answer : Carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings

The term "accountant" has been used by Auditing and Assurance Standards Council to refer to a CPA in public practice who is engaged to: a. Audit financial statements. b. Review financial statements. c. Apply agreed-upon procedures. d. Compile financial statements

Description : The term "accountant" has been used by Auditing and Assurance Standards Council to refer to a CPA in public practice who is engaged to: a. Audit financial statements. b. Review financial statements. c. Apply agreed-upon procedures. d. Compile financial statements

Last Answer : Compile financial statements

The term "accountant" has been used by Auditing and Assurance Standards Council to refer to a CPA in public practice who is engaged to: a. Audit financial statements. b. Review financial statements. c. Apply agreed-upon procedures. d. Compile financial statements.

Description : The term "accountant" has been used by Auditing and Assurance Standards Council to refer to a CPA in public practice who is engaged to: a. Audit financial statements. b. Review financial statements. c. Apply agreed-upon procedures. d. Compile financial statements.

Last Answer : Compile financial statements.

Auditing standards differ from auditing procedures in that procedures relate to: a. Measures of performance b. Acts to be performed. c. Audit judgmentsd. Audit principles

Description : Auditing standards differ from auditing procedures in that procedures relate to: a. Measures of performance b. Acts to be performed. c. Audit judgments d. Audit principles

Last Answer : Acts to be performed

Auditing standards differ from auditing procedures in that procedures relate to a. Audit judgments. b. Audit principles. c. Acts to be performed. d. Measures of performance.

Description : Auditing standards differ from auditing procedures in that procedures relate to a. Audit judgments. b. Audit principles. c. Acts to be performed. d. Measures of performance.

Last Answer : Acts to be performed.