1. State the objectives of the auditor when reporting on a set of financial statements? 

2. Alfred Shikongo is the assigned auditor on the audit of Khomas CC. He has been requested by the management of the company, not to provide a written audit report for the current year-end audit, but rather to present an oral auditor’s report at the company’s upcoming Annual General Meeting. The management believes that this will give shareholders a much better understanding of the audit report as they will be able to ask Alfred Shikongo probing questions. Should Alfred Shikongo agree to this?

State your answer and give 3 justifications as to whether he should or should not agree to the management suggestions.

3. The introductory paragraph of the audit report includes important information. List any 3 such information. 

4. Which of the following statements is false? Justify your answer.

A disclaimer of an opinion and an adverse opinion are the results of pervasive matters.
An emphasis of matter can be given instead of an adverse opinion but not instead of a disclaimer of opinion.
The audit report must be signed by the designated auditor.

Answer rating: 100% (QA)

Answer 1 Objectives of Financial Statement Audit The objective of a financial statement audit is to ... View the full answer