To be independent, the auditor: a. Must be impartial when dealing with the client. b. Cannot place any reliance on the client's verbal and written assertions. c. Is responsible only to third-party users of the financial statements. d. Cannot perform any consulting servicesfor an audit client.

To be independent, the auditor:
a. Must be impartial when dealing with
the client.
b. Cannot place any reliance on the client's
verbal and written assertions.
c. Is responsible only to third-party users of
the financial statements.
d. Cannot perform any consulting servicesfor an audit client.
by

1 Answer

Answer :

Must be impartial when dealing with
the client
by

Related questions

A CPA is conducting the first audit of a client’s financial statements. The CPA hopes to reduce the audit work by consulting with the predecessor auditor and reviewing the predecessor's working papers. This procedure is a. Acceptable if the CPA refers in the audit report to reliance upon the predecessor auditor's work. b. Required if the CPA is to render an unqualified opinion. c. Unacceptable because the CPA should bring an independent viewpoint to a new engagement. d. Acceptable if the client and the predecessor auditor agree to it.

Description : A CPA is conducting the first audit of a client's financial statements. The CPA hopes to reduce the audit work by consulting with the predecessor auditor and reviewing the predecessor's working papers. ... to a new engagement. d. Acceptable if the client and the predecessor auditor agree to it.

Last Answer : Acceptable if the client and the predecessor auditor agree to it.

Unlike consulting services, in assurance services: a. There is confirmation that financial statement assertions are accurate. b. Misstated account balances are generally corrected by an independent audit. c. Ineffective internal controls may exist. d. Competing interests may exist between management and the users of statements

Description : Unlike consulting services, in assurance services: a. There is confirmation that financial statement assertions are accurate. b. Misstated account balances are generally corrected by an independent audit. ... may exist. d. Competing interests may exist between management and the users of statements

Last Answer : Competing interests may exist between management and the users of statements

Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of the auditor's report. b. Study and evaluate the system of internal administrative control. c. Tour the client's facilities and review the general records. d. Consult with and review the work of the predecessor auditor prior to discussing the engagement with the client management

Description : Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of ... and review the work of the predecessor auditor prior to discussing the engagement with the client management

Last Answer : Tour the client's facilities and review the general records

Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of the auditor's report. b. Study and evaluate the system of internal administrative control. c. Tour the client's facilities and review the general records. d. Consult with and review the work of the predecessor auditor prior to discussing the engagement with the client management

Description : Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of ... and review the work of the predecessor auditor prior to discussing the engagement with the client management

Last Answer : Tour the client's facilities and review the general records

Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of the auditor's report. b. Study and evaluate the system of internal administrative control. c. Tour the client's facilities and review the general records. d. Consult with and review the work of the predecessor auditor prior to discussing the engagement with the client management

Description : Which of the following is the most likely first step an auditor would perform at the beginning of an initial audit engagement? a. Prepare a rough draft of the financial statements and of ... and review the work of the predecessor auditor prior to discussing the engagement with the client management

Last Answer : Tour the client's facilities and review the general records

What will an auditor who has been proposed for an audit engagement usually do prior to accepting a new client? a. Draft the financial statements of the client as a measure of goodwilb. With the permission from the prospective client, contact the predecessor auditor to determine if there are any disagreements between the client and the audit firms. c. Obtain the potential client's permission to talk to the former auditor and review work papers. d. Perform a peer review on the potential client in accordance with professional standardsl

Description : What will an auditor who has been proposed for an audit engagement usually do prior to accepting a new client? a. Draft the financial statements of the client as a measure of goodwill b ... review work papers. d. Perform a peer review on the potential client in accordance with professional standards

Last Answer : With the permission from the prospective client, contact the predecessor auditor to determine if there are any disagreements between the client and the audit firms

Which of the following is an incorrect statement relating to the theoretical framework of auditing? a. Effective internal control structure reduces the probability of fraud or irregularities in an organization. b. Application of generally accepted accounting principles results in a fair presentation of financial statements. c. When examining financial data foropinion thereon, the auditor actsexclusively in the capacity of an auditor.d. In collecting evidence, auditorsshould maintain an attitude of trustabout their clients' assertions. the purpose of expressing an independent

Description : Which of the following is an incorrect statement relating to the theoretical framework of auditing? a. Effective internal control structure reduces the probability of fraud or irregularities in ... collecting evidence, auditors should maintain an attitude of trust about their clients' assertions.

Last Answer : In collecting evidence, auditors should maintain an attitude of trust about their clients' assertions.

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 statements concerning consulting services is incorrect? a. The performance of consulting services for audit clients does not, in and of itself, impair the auditor's independence. b. Consulting services differ fundamentally from the CPA's function of attesting to the assertions of other parties. c. Consulting services ordinarily involve external reporting. d. Most CPAs, including those who provide audit and tax services, also provide consulting services to their clients

Description : Which of the following statements concerning consulting services is incorrect? a. The performance of consulting services for audit clients does not, in and of itself, impair the auditor's ... including those who provide audit and tax services, also provide consulting services to their clients

Last Answer : Consulting services ordinarily involve external reporting

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

When an auditor believes that an understanding with the client has not been established, he or she should ordinarily a. Perform the audit with increased professional skepticism. b. Decline to accept or perform the audit. c. Review the client’s financial reports. d. Obtain information about the client’s business and the industry where it operates

Description : When an auditor believes that an understanding with the client has not been established, he or she should ordinarily a. Perform the audit with increased professional skepticism. b. Decline to accept ... reports. d. Obtain information about the client's business and the industry where it operates

Last Answer : Decline to accept or perform the audit.

In connection with the examination of financial statements, an independent auditor could be responsible for failure to detect a material fraud if a. Accountants performing important parts of the work failed to discover a close relationship between the treasurer and the cashier. b. The auditor planned the work in a hasty and inefficient manner. c. Statistical sampling techniques were not used on the audit engagement. d. The fraud was perpetrated by one client employee, who circumvented the existing internal control

Description : In connection with the examination of financial statements, an independent auditor could be responsible for failure to detect a material fraud if a. Accountants performing important parts of the ... . The fraud was perpetrated by one client employee, who circumvented the existing internal control

Last Answer : The auditor planned the work in a hasty and inefficient manner.

In connection with the examination of financial statements, an independent auditor could be responsible for failure to detect a material fraud if a. Statistical sampling techniques were not used on the audit engagement. b. The fraud was perpetrated by one client employee, who circumvented the existing internal control. c. The auditor planned the work in a hasty and inefficient manner. d. Accountants performing important partsof the work failed to discover a closerelationship between the treasurer andthe cashie

Description : In connection with the examination of financial statements, an independent auditor could be responsible for failure to detect a material fraud if a. Statistical sampling techniques were not used on ... partsof the work failed to discover a close relationship between the treasurer and the cashie

Last Answer : The auditor planned the work in a hasty and inefficient manner.

Which of the following statements does not properly describe a limitation of an audit? a. Many audit conclusions are made on the basis of examining a sample of evidence. b. The work, under taken by the auditor is permeated by judgment. c. Fatigue and human weaknesses can cause auditors to overlook pertinent evidence. d. Many financial statement assertions cannot be audited

Description : Which of the following statements does not properly describe a limitation of an audit? a. Many audit conclusions are made on the basis of examining a sample of evidence. b. The ... weaknesses can cause auditors to overlook pertinent evidence. d. Many financial statement assertions cannot be audited

Last Answer : Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Which of the following statements does not properly describe a limitation of an audit? a. Many financial statement assertions cannot be audited. b. Many audit conclusions are made on the basis of examining a sample of evidence. c. The work, under taken by the auditor is permeated by judgment. d. Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Description : Which of the following statements does not properly describe a limitation of an audit? a. Many financial statement assertions cannot be audited. b. Many audit conclusions are made on the ... permeated by judgment. d. Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Last Answer : Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Identify the correct statement. a. Accounting services do not provide attestation. b. Management consulting services provide attestation in all cases. c. An audit provides limited assurance by attesting to the fairness of the client's assertions. d. A review provides positive assurance by attesting the reliability of the client's assertions

Description : Identify the correct statement. a. Accounting services do not provide attestation. b. Management consulting services provide attestation in all cases. c. An audit provides limited assurance by ... d. A review provides positive assurance by attesting the reliability of the client's assertions

Last Answer : Accounting services do not provide attestation

Preplanning the audit involves several key activities which include the following except: a. Investigating the client's background. b. Communicating with the prospective client's prior auditor to inquire about any disagreements with the client. c. Understanding the client's reasons for obtaining an audit. d. Determining the likelihood of issuing an unqualified audit opinion on the client's financial statements.

Description : Preplanning the audit involves several key activities which include the following except: a. Investigating the client's background. b. Communicating with the prospective client's prior auditor to ... the likelihood of issuing an unqualified audit opinion on the client's financial statements.

Last Answer : Determining the likelihood of issuing an unqualified audit opinion on the client's financial statements.

Which of the following procedures would an auditor be most likely to perform in planning a financial statement audit? a. Reviewing investment transactions of the audit period to determine whether related parties were created. b. Performing analytical procedures to identify areas that may represent specific risks. c. Obtaining a written representation letter from the client to emphasize management's responsibilities. d. Reading the minutes of stockholder and director meetings to discover whether any unusual transactions have occurred.

Description : Which of the following procedures would an auditor be most likely to perform in planning a financial statement audit? a. Reviewing investment transactions of the audit period to determine ... the minutes of stockholder and director meetings to discover whether any unusual transactions have occurred.

Last Answer : Performing analytical procedures to identify areas that may represent specific risks.

Ethically, the auditor could: a. Advertise only as to his expertise in preparing income tax returns. b. Base his audit fee on a percentage of the proceeds of his client’s stock issue. c. Perform an examination for a financially distressed client at less than his customary fees. d. Own preferred stock in a corporation which is an audit client.

Description : Ethically, the auditor could: a. Advertise only as to his expertise in preparing income tax returns. b. Base his audit fee on a percentage of the proceeds of his client's stock issue. c. Perform ... at less than his customary fees. d. Own preferred stock in a corporation which is an audit client.

Last Answer : Perform an examination for a financially distressed client at less than his customary fees.

Which of the following statements is correct? a. Sufficiency refers to the quality of evidence, while appropriateness refers to the quantity of evidence. b. The reliability of evidence is influenced not by its nature but by its source. c. The performance of consulting services for audit clients does not, in and of itself, impair the auditor’s independence. d. A belief that management and those charged with governance are honest and have integrity relieves the auditor of the need to maintain professional scepticism.

Description : Which of the following statements is correct? a. Sufficiency refers to the quality of evidence, while appropriateness refers to the quantity of evidence. b. The reliability of evidence is ... are honest and have integrity relieves the auditor of the need to maintain professional scepticism.

Last Answer : The performance of consulting services for audit clients does not, in and of itself, impair the auditor’s independence

What is the proper organizational role of internal auditing? a. To serve as an independent, objective assurance and consulting activity that adds value to operations. b. To assist the external auditor in order to reduce external audit fees. c. To perform studies to assist in the attainment of more efficient operations. d. To serve as the investigative arm of the audit committee of the board of directors

Description : What is the proper organizational role of internal auditing? a. To serve as an independent, objective assurance and consulting activity that adds value to operations. b. To assist the external auditor in ... . d. To serve as the investigative arm of the audit committee of the board of directors

Last Answer : To serve as an independent, objective assurance and consulting activity that adds value to operations.

The independent auditor lends credibility to client financial statements by a. Stating in the auditor’s management letter that the examination was made in accordance with PSAs b. Attaching an auditor’s opinion to the client’s financial statements. c. Testifying under oath about client financial statements. d. Maintaining clear-cut distinctions between management representations and auditor’s representations.

Description : The independent auditor lends credibility to client financial statements by a. Stating in the auditor's management letter that the examination was made in accordance with PSAs b. ... statements. d. Maintaining clear-cut distinctions between management representations and auditor's representations.

Last Answer : Attaching an auditor’s opinion to the client’s financial statements.

Which of the following has the primary responsibility for the fairness of the representations made in the financial statements? a. Audit committee b. Client's management c. Independent auditor d. Board of Accountancy

Description : Which of the following has the primary responsibility for the fairness of the representations made in the financial statements? a. Audit committee b. Client's management c. Independent auditor d. Board of Accountancy

Last Answer : Client's management

In designing written audit programs, an auditor should establish specific audit objectives that relate primarily to the a. Financial statement assertions. b. Timing of audit procedures. c. Cost-benefit of gathering evidence. d. Selected audit techniques.

Description : In designing written audit programs, an auditor should establish specific audit objectives that relate primarily to the a. Financial statement assertions. b. Timing of audit procedures. c. Cost-benefit of gathering evidence. d. Selected audit techniques.

Last Answer : Financial statement assertions

Which of the following does an auditor least likely perform in assessing audit risk? a. Understand the economic substance of significant transactions completed by the client. b. Understand the entity and the industry in which it operates. c. Gather audit evidence in support of recorded transactions. d. Obtain an understanding of the client's system of internal contro

Description : Which of the following does an auditor least likely perform in assessing audit risk? a. Understand the economic substance of significant transactions completed by the client. b. Understand the entity ... of recorded transactions. d. Obtain an understanding of the client's system of internal contro

Last Answer : Gather audit evidence in support of recorded transactions

To obtain an understanding of a continuing client’s business in planning an audit, an auditor most likely would a. Read specialized industry journals. b. Review prior year working papers and the permanent file for the client. c. Reevaluate the client’s internal control environment. d. Perform tests of details of transactions and balances

Description : To obtain an understanding of a continuing client's business in planning an audit, an auditor most likely would a. Read specialized industry journals. b. Review prior year working papers and ... the client's internal control environment. d. Perform tests of details of transactions and balances

Last Answer : Review prior year working papers and the permanent file for the client

Which of the following statements about independent financial statement audit is correct? a. The audit of financial statements relieves management of its responsibilities for die financial statements. b. An audit is designed to provide limited assurance that the financial statements taken as a whole are free from material misstatement. c. The auditor's opinion is not an assurance as to the future viability of the entity as well as the effectiveness and efficiency withwhich management has conductedthe affairs of the entity.d. The procedures required to conduct anaudit in accordance with PSAs shouldbe determined by the client whoengaged the services of the auditor

Description : Which of the following statements about independent financial statement audit is correct? a. The audit of financial statements relieves management of its responsibilities for die financial statements. b. An ... with PSAs should be determined by the client who engaged the services of the auditor

Last Answer : The auditor's opinion is not an assurance as to the future viability of the entity as well as the effectiveness and efficiency withwhich management has conducted the affairs of the entity.

Before continuing the client relationship, the auditor should perform the following except: a. Communicate with the predecessor auditor. b. Evaluate client in case of change of client’s businesc. Evaluate client’s integrity. d. Evaluate financial condition of the cliens

Description : Before continuing the client relationship, the auditor should perform the following except: a. Communicate with the predecessor auditor. b. Evaluate client in case of change of client’s business c. Evaluate client’s integrity. d. Evaluate financial condition of the clien

Last Answer : Communicate with the predecessor auditor

The network firms are required to be independent of the client a. For assurance engagements provided to an audit client. b. For assurance engagements provided to clients that are not audit clients, when the report is not expressly restricted for use by identified users. c. For assurance engagements provided to clients that are not audit clients, when the assurance report is expressly restricted for use by identified users. d. All of the above

Description : The network firms are required to be independent of the client a. For assurance engagements provided to an audit client. b. For assurance engagements provided to clients that are not audit clients, ... the assurance report is expressly restricted for use by identified users. d. All of the above

Last Answer : For assurance engagements provided to an audit client

The network firms are required to be independent of the client a. For assurance engagements provided to an audit client. b. For assurance engagements provided to clients that are not audit clients, when the report is not expressly restricted for use by identified users. c. For assurance engagements provided to clients that are not audit clients, when the assurance report is expressly restricted for use by identified users. d. All of the above

Description : The network firms are required to be independent of the client a. For assurance engagements provided to an audit client. b. For assurance engagements provided to clients that are not audit clients, ... the assurance report is expressly restricted for use by identified users. d. All of the above

Last Answer : For assurance engagements provided to an audit client

The network firms are required to be independent of the client a. For assurance engagements provided to an audit client. b. For assurance engagements provided to clients that are not audit clients, when the report is not expressly restricted for use by identified users. c. For assurance engagements provided to clients that are not audit clients, whenthe assurance report is expresslyrestricted for use by identified users.d. All of the above

Description : The network firms are required to be independent of the client a. For assurance engagements provided to an audit client. b. For assurance engagements provided to clients that are not audit clients, ... whenthe assurance report is expressly restricted for use by identified users. d. All of the above

Last Answer : For assurance engagements provided to an audit client.

When an independent auditor is approached to perform an audit for the first time, he/she should make inquiries of the predecessor auditor. Inquiries are necessary because the predecessor may be able to provide the successor with information that will assist the successor in determining whether a. A certain amount of audit fee will be acceptable to the client. b. An unqualified opinion may be issued. c. The audit documentation by the predecessor auditor can be utilized. d. The engagement proposal should be accepted

Description : When an independent auditor is approached to perform an audit for the first time, he/she should make inquiries of the predecessor auditor. Inquiries are necessary because the predecessor may ... documentation by the predecessor auditor can be utilized. d. The engagement proposal should be accepted

Last Answer : The engagement proposal should be accepted

Which of the following statements is true with regard to the relationship among audit risk, audit evidence, and materiality? a. The lower the inherent risk and control risk, the lower the aggregate materiality threshold. b. Under conditions of high inherent and control risk, the auditor should place more emphasis on obtaining external evidence and should reduce reliance on internal evidence. c. Where inherent risk is high and control risk is low, the auditor may safely ignore inherent risk. d. Aggregate materiality thresholds should not change under conditions of changing risk levels

Description : Which of the following statements is true with regard to the relationship among audit risk, audit evidence, and materiality? a. The lower the inherent risk and control risk, the lower ... inherent risk. d. Aggregate materiality thresholds should not change under conditions of changing risk levels

Last Answer : Under conditions of high inherent and control risk, the auditor should place more emphasis on obtaining external evidence and should reduce reliance on internal evidence

The auditor's defense of contributory negligence is most likely to prevail when a. Third party injury has been minimal. b. The client is privately held as contrasted with a public company. c. Undetected errors have resulted in materially misleading financial statements. d. The auditor fails to detect fraud resulting from management override of the control structure

Description : The auditor's defense of contributory negligence is most likely to prevail when a. Third party injury has been minimal. b. The client is privately held as contrasted with a public company ... statements. d. The auditor fails to detect fraud resulting from management override of the control structure

Last Answer : The auditor fails to detect fraud resulting from management override of the control structure

The auditor's defense of contributory negligence is most likely to prevail when a. Third party injury has been minimal. b. The client is privately held as contrasted with a public company. c. Undetected errors have resulted in materially misleading financial statements. d. The auditor fails to detect fraud resulting from management override of the control structure.

Description : The auditor's defense of contributory negligence is most likely to prevail when a. Third party injury has been minimal. b. The client is privately held as contrasted with a public company. ... . d. The auditor fails to detect fraud resulting from management override of the control structure.

Last Answer : The auditor fails to detect fraud resulting from management override of the control structure.

The Philippine Standards on Auditing issued by AASC a. Need to be applied on all audit related. b. Require that in no circumstances would an auditor may judge it necessary to depart from a PSA, even though such a departure may result to more effective achievement of the objective of an audit. c. Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion. d. Must not apply to other related activities of auditors

Description : The Philippine Standards on Auditing issued by AASC a. Need to be applied on all audit related. b. Require that in no circumstances would an auditor may judge it necessary to depart from a PSA, ... for the purpose of expressing an opinion. d. Must not apply to other related activities of auditors

Last Answer : Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion.

The Philippine Standards on Auditing issued by AASC: a. Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion. b. Need to be applied on all audit related. c. Must not apply to other related activities of auditors. d. Require that in no circumstances would an auditor may judge it necessary to depart from a PSA, even though such a departure may result to more effective achievement of the objective of an audit

Description : The Philippine Standards on Auditing issued by AASC: a. Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an ... though such a departure may result to more effective achievement of the objective of an audit

Last Answer : Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion

Which of the following statements is true? a. An independent auditor must be a CPA. b. Compliance audits are conducted to determine adherence to rules and regulations set by the auditor. c. An audit, if properly conducted, ensures that fraud is prevented. d. After conducting an audit and release of the auditor’s report, the primary responsibility on the fairness of the financial statements is shifted to the auditor

Description : Which of the following statements is true? a. An independent auditor must be a CPA. b. Compliance audits are conducted to determine adherence to rules and regulations set by the auditor. c. ... s report, the primary responsibility on the fairness of the financial statements is shifted to the auditor

Last Answer : An independent auditor must be a CPA.

Information risk refers to the risk that a. The client may not be able to remain in business. b. Errors and frauds would not be detected by the auditor's procedures. c. The auditor may express an unqualified opinion on financial statements that arematerial misstated.d. The client's financial statementsmay be materially false andmisleading

Description : Information risk refers to the risk that a. The client may not be able to remain in business. b. Errors and frauds would not be detected by the auditor's procedures. c. ... financial statements that arematerial misstated. d. The client's financial statements may be materially false and misleading

Last Answer : The client's financial statements may be materially false and misleading

There are four conditions that give rise to the need for independent audits of financial statements. One of these conditions is consequence. In this context, consequence means that the: a. Users of the statements may not fully understand the consequences of their actions. b. Auditor must anticipate all possible consequences of the report issued. c. Impact of using different accounting methods may not be fully understood by the users of the statements. d. Financial statements are used for important decisions

Description : There are four conditions that give rise to the need for independent audits of financial statements. One of these conditions is consequence. In this context, consequence means that the: a. ... fully understood by the users of the statements. d. Financial statements are used for important decisions

Last Answer : Financial statements are used for important decisions

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

Which of the following statements does not properly describe an element of the theoretical framework of auditing? a. Remoteness of users. b. An audit benefits the public. c. The data to be audited are verifiable. d. Auditor should maintain independence with respect to the audit client

Description : Which of the following statements does not properly describe an element of the theoretical framework of auditing? a. Remoteness of users. b. An audit benefits the public. c. The data to be audited are verifiable. d. Auditor should maintain independence with respect to the audit client

Last Answer : Remoteness of users