auditor’s report

HI till di
,sers/AWAIS/Downloads/T1 20%20ACC707%20%200nfine%20Final%20Exam%20Auditing%20%20Assurance%21

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b) in areas of business risk. C) when control risk is high d) to ensure that controls that are to be relied upon are operating effectively throughout the entire year. — — – —– ——-______ …..-T-_,,—= ..-”- -7…, — „.___ ,__ .,-,–,„- __= -. ,-1.- –

The auditor’s report now requires a description of key audit matters, which are
a) matters that, in the auditor’s professional judgment, are of most significance in their audit of the financial rep6rt b) the five matters that agreed between the auditor and the audit committee as ring of most significant:* in their audit of the financial report. c) -1—Jhe significant differences between what is disclosed in a financial report prepared in actUtian-ft with the financial reportingftameworKand what is necessary to provide a true and Mr view _- – matters why have been brought to th6’attentionOf the auditor by the audit pectionprocess but are not reflected in the financial report
Audit sampling is the application of an audit procedur€

– _ a) using statisticalitiethods to evaluate the propriety of the account balance or class of transactions:1-,L-b) to less than 100% of the items within an account balance or class of transactions for the purpose of evaluating some characteristics of the balance or class. c) applied to items selected randomly. d) on a test basis.

0 10.
Which of the following is not an assurance engagement? a) A review of historical financial information. b) An audit of the effectiveness of internal control. c) A performance audit. d) A consulting engagement to help an organisation meet its tax.