The principal reason for an independent auditor to gather and evaluate audit evidence is to
1. The principal reason for an independent auditor to gather and evaluate audit evidence is to
Answer:
The major reason an independent auditor gathers audit evidence is to answer: form an opinion on the financial statements. ... Answer: Audit procedures that are effective for detecting unintentional misstatements may be ineffective for an intentional misstatement that is concealed through collusion.
2. Given the economic and time constraints in which auditors can collect evidence about management assertions about the financial statements, the auditor normally gathers evidence that is
Answer:
sorry po need lng ng ponits
3. What evidence might an auditor gather to determine the proper valuation of an impaired asset?
Answer:
Asset impairment may be referred to the loss in the value of an asset. It is difference between carrying value and recoverable amount of the asset.
Explanation:
4. The objective of the ordinary examination by the independent auditor is the expression of an opinion on
Answer:
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5. An auditor suspects that certain client employees are ordering merchandise for themselves over the internet without recording the purchase or receipt of the merchandise. when vendors’ invoices arrive, one of the employees approves the invoices for payment. after the invoices are paid, the employee destroys the invoices and the related vouchers. in gathering evidence regarding the fraud, the auditor most likely would select items for testing from the file of all
Answer:
yes
Explanation:
Pa brainliest nadinsana makatulong6. To operate effectively an internal auditor must be independent of
Explanation:
How can an internal auditor be truly independent?
Internal auditors are independent when they render impartial and unbiased judgment in the conduct of their engagement. ... The internal auditor should have an impartial, unbiased attitude and avoid conflict-of-interest situations, as that would prejudice his/her ability to perform the duties objectively.
i hope its help you out
7. An auditor should be able to collect and evaluate documentary evidence. when evaluating and interpreting evidence, the auditor must be concerned about drawing unwarranted conclusions. an example of a valid conclusion is
Answer:
:-(:-P}:‑)o:-):-$(*_*):-*8-);):-$=_=:-(O_o:-(}:‑)o:-)(*_*):‑X(TT):-D:-$:-*:-$O_o:-*
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8. An auditor may reasonably issue a qualified opinion for
Answer:
In an auditor's report, a qualified opinion is a statement that is included with a company's audited financial statements. ... If a company's financial statements include insufficient disclosures in the footnotes, qualified opinions may be provided.
Explanation:
9. Which of the following elements of the auditors report affirms the auditor's independence?
Answer:
A title indicating the report
Explanation:
hope it's help and pabrainliest po
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10. Ultimately, the decision about whether or not an auditor is independent must be made by
Answer:
Internal audit outsourcing. In determining independence with respect to any audit engagement, the ultimate decision as to whether or not the auditor is independent must be made by the: A. auditor.
Explanation:
that is all i can find, i hope it helps.
11. The objective of the ordinary examination by the independent auditor is the expression of an opinion on
Answer:
The objective of the ordinary audit of financial statements by the independent auditor is the expression of an opinion on the fairness with which they present, in all material respects, financial position, results of operations, and its cash flows in conformity with generally accepted accounting principles.
12. On the basis of audit evidence gathered and evaluated, an auditor decides to decrease the level of detection risk from that originally planned. assuming the same planned audit risk level, the change in the planned detection risk most likely resulted from a(n
Answer:
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13. Explain the problems associated with lack of auditor independence
Explanation:
Explain the problems associated with lack of auditor independence. ... They are essentially auditing their own work. This risk is that as auditors they will not bring to management's attention detected problems that may adversely affect their consulting fees.
14. Auditors use evidence from either tests of controls or substantive tests, but not both.
Answer:
False
Explanation:
#CarryOnLearning15. Which of the following is responsible for the fairness of representations made in financial statements? A. The independent auditor. B. The internal auditor. C. The client's management. D. The audit committee.
Answer:
c.
Explanation:
po yung sagot sa tanong nyo po
16. An auditor analyzes repairs and maintenance accounts primarily to obtain evidence in support of the audit assertion that all
Answer:
The analysis is the supported in the assertion community
Explanation:
I hope it's help
17. When planning the audit, if the auditor has no reason to believethat non-compliance exists, the auditor should?
Answer:
mark tahimik lang
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18. Which of the following is not one of the independent auditors objectives regarding the audit of inventories?
Answer:ito na po Sana makatulong salamat po☺
19. Which of the following would least likely affect the appropriateness of evidence available to an auditor?
Answer:
Audit evidence is more reliable when it exists in documentary form, whether paper, electronic, or other medium (for example, a contempo- raneously written record of a meeting is more reliable than a subse- quent oral representation of the matters discussed). audit evidence provided by photocopies or facsimiles.Bank statements obtained from the client
20. The primary reason for an auditor to use statistical sampling is to
Answer:
The primary reason for an internal auditor to use statistical sampling rather than nonstatistical sampling is to: ... Allow the auditor to quantify, and therefore control, the risk of making an incorrect decision based on sample evidence.
Explanation:
i hope it's right.
thank u po pa brainlest<33321. Which of the following best describes the reason why independent auditors report on financial statements?
Answer:
A management fraud.
Step-by-step explanation:
A management fraud may exist, and it is more likely to be detected by independent auditors. The company preparing the statements may have poorly designed internal control.
22. The strongest criticism of the reliability of audit evidence that the auditor physically observes is that
Answer:
Thanks
Explanation:
Thank you for points
23. To emphasize the fact that the auditor is independent
To emphasize the fact that the auditor is independent, a typical addressee of the audit report could be board of Directors and stock holders.
Explanation :
Ideally, an internal auditor is said to be independent if he can carry out the implementation freely and objectively. An internal auditor relies on his freedom to carry out his duties impartially and objectively.
The objective of an audit of financial statements by an independent auditor in general is to express an opinion on the fairness, in all material respects, of financial position, results of operations, changes in equity and cash flows in accordance with accepted accounting principles.
After the audit process takes place, the audit report is usually submitted to management or the board of directors and investors (shareholders) as an assessment of the financial performance and financial position of the company entity.
Learn More About Auditor at : https://brainly.ph/question/2245909
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24. Which of the following is not one of the reasons that auditors provide only reasonable assurance on the financial statements?
Answer:
reach a conclusion about the fairness of the financial statements..
25. Which of the following best describes the reason why independent auditors report on financial?
Answer:
good question po,goodluck! pa brainliest!!
Step-by-step explanation:
26. Which of the following best describes why an independent auditors reports on financial statements?
Answer:
the independent auditor's may make suggestion about the form or content of the financial statements or draft them in whole or part, based on information from management during the performance of the audit
Explanation:
SANA MAKATULONG SALAMAT
#Skeptron correct me if I'm wrong
27. Which of the following methods is considered the best combination in obtaining audit evidence assuming documentary evidence is available to the auditor?
Answer:
Audit inquiry is sometimes used by the auditor to obtain the audit evidence and sometimes is used to obtain an understanding of some nature of business or accounting transactions in order to gain enough knowledge to design and perform testing.
Step-by-step explanation:
HOPE IT HELPS❤❤28. Which of the following is not a reason for the special significance attached by the auditors?
Which of the following is not a reason for the special significance attached by the auditors to the verification of inventories?
The existence of inventories is inherently difficult to substantiate.
29. What type of evidence is obtained when the auditor calculates information for the audit from other data?
Answer:
wag na po kayo asa sa brainly
30. Theoretically, which of the following would not have an effect on the amount of audit evidence gathered by the auditor
Answer:
u are die
Explanation:
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