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WorksheetsISA-Chap 2
Total questions: 10
Worksheet time: 6mins
Which one of the following is not one of the primary purposes of audit documentation?
A basis for determining work deficiencies by peer review teams.
A basis for review by supervisors and partners
A basis for planning the audit.
A record of the evidence accumulated and the results of the tests
What is the overall objective of audit working papers?
Provide a basis for reviewing the work of subordinates.
Defend against claims of a deficient audit.
Provide reasonable assurance that the audit was conducted in accordance with standards.
None of the above.
Those procedures specifically outlined in an audit program are primarily designed to
test internal systems
gather evidence
detect errors or irregularities
prevent litigation
A written understanding detailing what the auditor expects from the client in performing an audit will normally be expressed in the
management letter requested by the auditor
engagement letter
audit Plan
audit Strategy for the client
The purpose of an engagement letter is to
document the CPA firm's responsibility to external users of the audited financial statements.
document the terms of the engagement
notify the audit staff of an upcoming engagement so that personnel scheduling can be facilitated
emphasize management's responsibility for approving the audit program
Which of the following is NOT an element of audit report?
Recommendations
Audit program
Objectives, timing and scope of audit
Description of findings
Below are the information that are collected or reviewed during fieldwork EXCEPT
Memo-to-file
Reports
Manuals and directives
Organization chart
What is the function of Audit Program?
A document issued to auditee management to record the findings
Assessment made by internal auditors about audit issues
A detailed step-by-step procedures to be followed during an audit
A detailed outline of the auditor's plans and procedures in conducting audit
