Multiple Choice
The auditor is required to document in the work papers his understanding of the company and its environment and his assessment of the risks of material misstatement.This documentation should include
A) the significant decisions during the discussion among management regarding the susceptibility of the company's financial statements to material misstatement due to fraud
B) how and when the discussion occurred
C) the audit team members who participated
D) the identified and assessed risks of material misstatement at both the financial statement level,and the procedures performed to obtain the information
E) both A and C
F) both B and C
G) both C and E
Correct Answer:
Verified
Correct Answer:
Verified
Q47: Significant findings are to be documented by
Q48: The auditing standards describe audit evidence as
Q49: The condition,rationalization to commit fraud,is present when<br>A)An
Q50: The fraud discussion may include the following
Q51: The auditor is required to document his
Q53: Evidence is important to the audit because
Q54: The auditor uses the "external confirmation" procedure
Q55: The auditor may consider withdrawing from the
Q56: The auditor is responsible for gathering evidence
Q57: The term "earnings management" is often used