AA tutorial 10

Briefly describe what you understand by the terms ‘reasonable assurance’ and ‘limited assurance’ (4 marks)

State what you and your firm should do if you identify money-laundering activities during the course of an audit (2 marks)

In accordance with ISA 260, state FOUR matters to be communicated by the auditor to those charged with governance (4 marks)

List the purposes of audit working papers. (3 marks)

List the documentation that should be of assistance to you in familiarising yourself with Specs4You Co. Describe the information you should expect to obtain from each document. (8 marks)

Explain why the working paper shown above does not meet the standards normally expected of a working paper. Note. You are not required to reproduce the working paper. (9 marks)