Question: If the entity is subject to the requirements of AS
If the entity is subject to the requirements of AS 5, what written representations should auditors obtain from the client with respect to internal control over financial reporting?
Answer to relevant QuestionsWhat factors may indicate that substantial doubt exists about the client’s ability to continue as a going concern?What procedures do auditors perform to identify subsequent events?Which of these substantive procedures is not used to obtain evidence about contingencies? a. Scanning expense accounts for credit entries. b. Obtaining a letter from the client’s attorney. c. Reading the minutes of the ...Which of the following normally occurs earliest in the audit examination? a. Discovery of an omitted audit procedure. b. Dual dating the auditor’s report on the entity’s financial statements for subsequent events that ...The primary reason auditors request responses to attorney letters is to provide auditors a. The probable outcome of asserted claims and pending or threatened litigation. b. Corroboration of the information furnished by ...
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