Multiple Choice
If the auditor has obtained a reasonable level of assurance about the fair presentation of the financial statements through understanding internal control, assessing control risk, testing controls, and analytical procedures, then the auditor
A) can issue an unqualified opinion.
B) can significantly reduce other substantive tests.
C) can write the engagement letter.
D) needs to perform additional tests of controls so that the assurance level can be increased.
Correct Answer:
Verified
Correct Answer:
Verified
Q138: The presentation and disclosure-related audit objectives are
Q139: Rights and obligations are the only balance-related
Q140: When developing the audit objectives, the first
Q141: When examining the relationships of the five
Q142: Auditing standards make a distinction between the
Q144: _ are used as evidence to provide
Q145: In comparing management fraud with employee fraud,
Q146: List the four phases of a financial
Q147: Which of the following statements is not
Q148: Auditors have a higher degree of responsibility