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AUE3701 Assignment 1 Semester 2 of 2022
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AUE3701 ASSIGNMENT 1 – SEMESTER 2 OF2022
SELECT THE ALTERNATIVE WHICH IS TRUE
A system-based audit approach will most probably be followed by the auditor when ...
a.
reliance can be placed on general and application controls;
b.
reliance can be placed on application controls, but reliance cannot be placed on general
controls;
c.
reliance can be placed on application controls, but reliance cannot be placed on general
controls; AND reliance cannot be placed on general controls or application controls.
d.
reliance cannot be placed on general controls or application controls;
Question 2 (b, c & d are correct)
Answer saved
SELECT THE ALTERNATIVE WHICH IS TRUE
Audit documentation should …
a.
indicate the names of the members in the audit team.
b.
provide the results of the audit procedures performed;
c.
provide a detailed explanation of the audit procedures performed;
d.
indicate the names of the preparer and reviewer responsible for the audit work that was
completed;
Question 3
Question text
SELECT THE ALTERNATIVE WHICH IS TRUE
FOR ACCADEMIC NEEDS CONTACT INFO@UNITUTORIALS.CO.ZA/0651609781
, Before an auditor commences with the fieldwork, he/she usually discusses the audit strategy
with the client’s management. Which one of the following matters do the auditor and
management agree upon at this time?
a.
The performance of tests of controls.
b.
The appropriateness of the entity’s plans for dealing with adverse economic conditions.
c.
The control weaknesses to be included in the communication with those charged with
governance.
d.
The coordination of the assistance of the client’s personnel in data preparation.
Question 4
Question text
SELECT THE ALTERNATIVE WHICH IS TRUE
During the preliminary engagement stage of an audit, an auditor most likely would not do the
following:
a.
Determine skills, competence and resources to determine whether the audit firm will be able
to perform the audit in compliance with standards and can comply with ethical requirements.
b.
Investigate the client to determine whether the client should be accepted, or whether the firm
should continue its relationship with an existing client.
c.
Obtain a confirmation from the client's attorney as to whether there are any unrecorded legal
claims.
d.
Establish the terms of the engagement and formalise the agreement in an engagement letter.
FOR ACCADEMIC NEEDS CONTACT INFO@UNITUTORIALS.CO.ZA/0651609781
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