Question
Which of the following best describes the principle of
professional skepticism in auditing?Solution
Professional skepticism is an attitude that includes a questioning mind and a critical assessment of evidence – fundamental to high-quality audits.
Audit program is prepared by:
Which of the following provides the most reliable audit evidence?
Internal audit is conducted to:
A "Qualified Opinion" is expressed by an auditor when:
An auditor finds material misstatements due to fraud but the management refuses to take corrective action. What should be the auditor’s next step?
An auditor identifies a material misstatement due to fraud in financial statements. What should be his immediate course of action?
Working papers are primarily the property of:
As per SA 500, the reliability of audit evidence is increased when it is:
Which of the following constitutes the most reliable audit evidence?
Client has breached debt covenants; lender issued waiver valid for 9 months after balance sheet date. Auditor notes liquidity support from group company...
