In relation to the diagram below. Try explain the auditor's responsibilities in completing the audit. Completing...
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In relation to the diagram below. Try explain the auditor's responsibilities in completing the audit. Completing the fieldwork Make subsequent events review Read minutes of meetings Obtain evidence concerning litigation, claims and assessments Obtain client representation letter Perform analytical procedures COMPONENTS OF PRELIMINARY AUDIT STRATEGIES Evaluating the findings Make final assessment of materiality and audit risk Evaluate whether there is substantial doubt about an entity's ability to continue as a going concern High Make technical review of financial statements Formulate an opinion and draft audit report(s) on financial statements and on internal controls over financial reporting Make final review(s) of working papers Predominantly substantive approach In relation to the diagram below, explain audit strategy in light of tests of control and substantive procedures. Audit strategy Communicating with the client Communicate internal control matters Communicate matters pertaining to conduct of the audit Cost of combined procedures Prepare management letter Planned level of substantive procedures Lower assessed level of control risk approach Preliminary assessment of control risk Moderate Low Extent of understanding of internal control structure Tests of controls In relation to the diagram below. Try explain the auditor's responsibilities in completing the audit. Completing the fieldwork Make subsequent events review Read minutes of meetings Obtain evidence concerning litigation, claims and assessments Obtain client representation letter Perform analytical procedures COMPONENTS OF PRELIMINARY AUDIT STRATEGIES Evaluating the findings Make final assessment of materiality and audit risk Evaluate whether there is substantial doubt about an entity's ability to continue as a going concern High Make technical review of financial statements Formulate an opinion and draft audit report(s) on financial statements and on internal controls over financial reporting Make final review(s) of working papers Predominantly substantive approach In relation to the diagram below, explain audit strategy in light of tests of control and substantive procedures. Audit strategy Communicating with the client Communicate internal control matters Communicate matters pertaining to conduct of the audit Cost of combined procedures Prepare management letter Planned level of substantive procedures Lower assessed level of control risk approach Preliminary assessment of control risk Moderate Low Extent of understanding of internal control structure Tests of controls
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The diagram you sent me shows the different stages of an audit and the auditors responsibilities in completing each stage The stages are Completing th... View the full answer
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Posted Date:
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