Which of the 10 standards is violated in each of the following
independent situations? Some situations may violate more than one.
a. A team of auditors, each with varying levels of experience, divided up the audit tasks and
completed them independently before expressing an opinion on the statements.
b. An audit client changed its inventory cost flow assumption from LIFO to FIFO in the last
year. The audit opinion makes no mention of the change.
c. Auditors relied solely on the client’s assertions in evaluating account balances.
d. Austin supervised the audit team for a company in which he has an investment.
e. Chip relied solely on the client’s assessment of its AIS integrity in determining compliance
tests for an audit.
f. Sebastian conducted his first audit during his last semester of college. He audited the
accounting information system of a nonprofit organization where he volunteers.

  • CreatedAugust 06, 2015
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