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Auditing Standards

Excellent commerce point > Auditing Standards
Audit Report
02
Jun

Audit Report – CA Inter Auditing Notes Question 1In order to form the audit opinion as required by SA 700, the auditor shall conclude as to whether the auditor has obtained reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. Explain the conclusions […]

Posted in: ca intermediate notes ,
Tags: Adverse Report , Audit Opinion , Audit Report , Auditing Standards , CA Inter Audit , Chartered Accountancy Audit Notes , Disclaimer of Opinion , Financial Audit Report , Qualified Report , Types of Audit Report , Unqualified Report ,
Audit of Items of Financial Statements
02
Jun

Audit of Items of Financial Statements – CA Inter Audit MCQ Question 1.Which assertion is common among income statement and balance sheet captions:(a) Existence(b) Valuation(c) Completeness(d) MeasurementAnswer:(c) Completeness Question 2.Direct confirmation procedures are performed during audit of trade receivable balances to address the following balance sheet assertion:(a) Measurement(b) Existence(c) Rights and Obligations(d) CompletenessAnswer:(b) Existence Question […]

Posted in: ca intermediate notes ,
Tags: Audit of Assets and Liabilities , Audit of Financial Statements , Audit of Income and Expenses , Audit Procedures , Audit Techniques , Auditing Standards , Balance Sheet Audit , CA Inter Audit , Chartered Accountancy Audit Notes , Financial Audit , Profit and Loss Audit ,
Risk Assessment and Internal Control
31
May

Risk Assessment and Internal Control Question 1.The assessment of risks is a matter of professional judgment. Explain stating clearly what is not included in Audit Risk? Answer:Assessment of Audit Risk: Audit Risk is the risk that the auditor gives an inappropriate audit opinion when the financial statements are materially misstated. Thus, it is the risk that […]

Posted in: ca intermediate notes ,
Tags: Audit Process , Audit Risk , Auditing Standards , CA Inter Audit , Chartered Accountancy Audit Notes , Control Environment , Control Procedures , Financial Risk , Internal Check , Internal Control , Risk Assessment ,