Crowe Div-3A - 2022 Outing

What is the correct new auditor’s report layout based on the revised SA 700?

1) Other information

2) Auditor’s responsibility

3) Other matters (if any)

4) Auditor’s opinion

5) Management and TCWG’s responsibilities

6) Basis for opinion

7) Key audit matters

8) Material uncertainty regarding going concern (if any)

9) Emphasis of matters (if any)

• 4, 6, 3, 7, 8, 1, 9, 2, 5

• 4, 6, 8, 7, 9, 3, 1, 5, 2

• 4, 6, 7, 3, 9, 1, 8, 2, 5

• 4, 6, 9, 3, 1, 8, 7, 5, 2

SA 701 (2021) applies to audits of a complete set of general-purpose financial statements from the Issuer (Emiten) and the circumstances in which the auditor decides to communicate Key Audit Matters (KAM) in the auditor's report. SA 701 (2021) also applies when the auditor is required by law or regulation to communicate KAM in an audit of financial statements.

In accordance with the description above, which entity is considered an Issuer (Emiten) under

SA 701 (2021)?

• An entity whose shares are listed or traded on a stock exchange.

• An entity whose securities (equity or debt) are listed or traded on a stock exchange that is recognized or marketed according to regulations on a recognized stock exchange or other equivalent institution.

• An entity whose securities (equity or debt) are listed or traded on a stock exchange.

When a deposit is withdrawn to purchase a government bond that has a maturity of two months, the cash outflow is generally classified as part of which of the following?

Select the one correct option.

• Operating activities

• Investing activities

• Financing activities

• Cash management

Hasil akhir dari proses audit yang dilakukan oleh tim audit adalah:

• Kertas kerja audit

• Laporan keuangan auditan

• Laporan auditor independen

• Management letters

Tingkat materialitas yang menggambarkan ekspektasi auditor terkait salah saji dalam periode berjalan adalah:

• Overall materiality

• Performance materiality

• Clearly trivial amount

• Seluruh jawaban salah

Risk indicator related to inherent risk of cash and cash equivalent is due to?

• Level of liquidity

• Level of acceptable error

• Level of accuracy

• Level of completeness

What is the main significant assertion that usually comes to our concern when auditing liabilities?

• Completeness

• Existence or occurrence

• Accuracy

• Valuation

Trade receivables are amounts due from debtors or customers arising from

• sales of the Company’s products/goods

• providing services

• either a or b

• neither a nor b

The following are nature of inventory, except?

• Held for sale in the ordinary course of business

• In process of production for such sale

• Currently consumed in the production of goods or services to be available for sale

• Used in the company's operations to generate revenue

Among the following statements, which is true about report review?

• Report review provides additional assurance that the auditors’ report and the accompanying financial statements and footnotes are appropriate if all required disclosures are included.

• Report review is the responsibility of the Quality Control.

• The Quality Control ensures that the statements and footnotes (i.e., tables and other financial presentations) have been footed and cross-footed.

• The statements and footnotes have been read in their entirety for clarity of expression, internal consistency, spelling, grammar and punctuation and corrections have been identified.