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.
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
(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
(a) professional judgement;
(b) professional skepticism;
(c) professional intelligence;
(d) Professional…Read More
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
This group is created for CA Intermediate Students to discuss queries, doubts of Paper 7 Audit.