Question 1

What is an Emphasis of Matter (EOM) paragraph?

Accepted Answer

One or more paragraphs added to the audi

Question 2

An Other Matter is like an Emphasis of Matter paragraph except that it relates to information that is not required to be disclosed in the financial statements.

Accepted Answer

A) True 
 B)False

Question 3

The auditor typically writes a letter to the audit committee concerning material weaknesses in internal controls.

Accepted Answer

A) True 
 B)False

Question 4

Summarize the communications that auditors are required to make throughout the audit process. Indicate when these various communications need to take place.

Accepted Answer

The answer of Summarize the communications that auditors are required...

Question 5

Which of the following statements regarding auditor communication with audit committees is FALSE?

Accepted Answer

A)  Both the auditor and management should be present in meetings with the audit committee to discuss these reports, which may be written or oral. 
B)  The auditor and management should, in advance, review the information to be covered with the audit committee. 
C)  On all matters, management should report to the audit committee first, and the auditor then comments. 
D)  When the auditor communicates in writing, the report should indicate that it is intended solely for use by the audit committee. 
A)  Both the auditor and management should be present in meetings with the audit committee to discuss these reports, which may be written or oral. 
B)  The auditor and management should, in advance, review the information to be covered with the audit committee. 
C)  On all matters, management should report to the audit committee first, and the auditor then comments. 
D)  When the auditor communicates in writing, the report should indicate that it is intended solely for use by the audit committee.

What is an Emphasis of Matter (EOM) paragraph?

An Other Matter is like an Emphasis of Matter paragraph except that it relates to information that is not required to be disclosed in the financial statements.

The auditor typically writes a letter to the audit committee concerning material weaknesses in internal controls.

Summarize the communications that auditors are required to make throughout the audit process. Indicate when these various communications need to take place.

Which of the following statements regarding auditor communication with audit committees is FALSE?

Introduction to Auditing

Auditors Professional Roles and Responsibilities

Auditors Ethical and Legal Responsibilities

Reports on Audited Financial Statements

Preliminary Audit Planning: Understanding the Auditees Business

Assessing Risks in an Audit Engagement

Internal Control Over Financial Reporting

Audit Evidence and Assurance

Control Assessment and Testing

Audit Sampling

The Revenues, Receivables, and Receipts Process and Cash Account Balance

The Purchases, Payables, and Payments Process

Payroll and Production Processes

The Finance and Investment Process

Completing the Audit Work

Other Public Accounting Services and Reportsreviews and Compilations

Professional Rules of Conduct Details and Auditor Responsibilities

Part I the Audit of Accounting Estimates: Basic Material Relating to Accountingestimates

Legal Liability Cases

Other Professional Accounting Services and Reports, Including Fraud

Filters

Exam 16: Applying Professional Judgment to Form the Audit Opinion and Issue Theaudit Report

What is an Emphasis of Matter (EOM) paragraph?

An Other Matter is like an Emphasis of Matter paragraph except that it relates to information that is not required to be disclosed in the financial statements.

The auditor typically writes a letter to the audit committee concerning material weaknesses in internal controls.

Summarize the communications that auditors are required to make throughout the audit process. Indicate when these various communications need to take place.

Which of the following statements regarding auditor communication with audit committees is FALSE?

Introduction to Auditing

Auditors Professional Roles and Responsibilities

Auditors Ethical and Legal Responsibilities

Reports on Audited Financial Statements

Preliminary Audit Planning: Understanding the Auditees Business

Assessing Risks in an Audit Engagement

Internal Control Over Financial Reporting

Audit Evidence and Assurance

Control Assessment and Testing

Audit Sampling

The Revenues, Receivables, and Receipts Process and Cash Account Balance

The Purchases, Payables, and Payments Process

Payroll and Production Processes

The Finance and Investment Process

Completing the Audit Work

Other Public Accounting Services and Reportsreviews and Compilations

Professional Rules of Conduct Details and Auditor Responsibilities

Part I the Audit of Accounting Estimates: Basic Material Relating to Accountingestimates

Legal Liability Cases

Other Professional Accounting Services and Reports, Including Fraud

Filters