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Which of the following is the responsibility of the auditor:
(a) Preparation and presentation of the financial statements in
accordance with applicable financial reporting(b) Design, implementation and maintenance of internal controls
(c) Express an opinion on the Financial Statements
(d) To obtain limited assurance.
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Statement 1: The establishment of the overall audit strategy and the
detailed audit plan are not necessarily discrete or sequential process but
are closely inter-related.Statement 2: The auditor shall establish an overall audit strategy that
guides the development of audit plan.(a) only Statement 1 is correct
(b) Only Statement 2…Read More
1 Comment -
(IESBA Code) related to an audit of financial statements establishes
which of the following as the fundamental principle of professional ethics
relevant to the auditor when conducting an audit of financial
statements:(a) professional judgement;
(b) professional skepticism;
(c) professional intelligence;
(d) Professional…Read More
3 Comments-
Integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.
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Further sa 200 discusses the concept of exercising professional judgement during the course of audit and maintain an attitude of professional skepticism. ( but this are not part of ethical requirements as given in question)
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You are genius
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If the auditor is unable to agree to a change of the terms of the audit
engagement and is not permitted by management to continue the
original audit engagement, the auditor shall:(a) Withdraw from the audit engagement where possible under
applicable law or regulation;
(b) Determine whether there is any obligation, either contractual or…Read More
and then
Both the statement are correct.