Assurance aca - Study guides, Class notes & Summaries

ACA Assurance Exam Questions With Verified Answers 5 key elements of audit - answer1. 3 party involvement 2. subject matter (f/s) 3. suitable criteria (e.g. UK CGC) 4. evidence 5. written report ISA 200 - what are the objectives of auditors? - answer- obtain reasonable assurance f/s are free from material misstatement (fraud or error) - express opinion whether f/s prepared in accordance w/ financial reporting framework Exemption from statutory audit - answer- CA 2006 exempts small p. l...

ACA - Assurance Exam Questions With 100% Correct Answers what are audit documentations? - answerRECORD of procedures performed, relevant evidence obtained and conclusions reached why should assurance providers record their work? - answer- assist audit team to plan and perform audit - assist relevant members to direct and supervise work - enable audit team to be accountable (prove adherence to ISA) - retain record of matters to future audits - enable experienced auditor to carry out qual...

ACA Accounting and Assurance Exam Questions With Verified Answers Reasonable Assurance engagement 1. Evidence Sought 2. Opinion Given 3. Example - answer1. Sufficient and Appropriate 2. Positive Opinion 3. The financial statements show a true and fair view in all material respects Limited Assurance engagement 1. Evidence Sought 2. Opinion Given 3. Example - answer1. Sufficient and appropriate (less intrusive) 2. negative conclusion 3. Nothing has come to our attention that makes us ...

ACA Accounting and Assurance Exam Questions With Verified Answers Reasonable Assurance engagement 1. Evidence Sought 2. Opinion Given 3. Example - answer1. Sufficient and Appropriate 2. Positive Opinion 3. The financial statements show a true and fair view in all material respects Limited Assurance engagement 1. Evidence Sought 2. Opinion Given 3. Example - answer1. Sufficient and appropriate (less intrusive) 2. negative conclusion 3. Nothing has come to our attention that makes us ...

ACA Assurance(questions with verified answers)

ACA Assurance Latest 2023 Already Passed 5 key elements of audit 1. 3 party involvement 2. subject matter (f/s) 3. suitable criteria (e.g. UK CGC) 4. evidence 5. written report ISA 200 - what are the objectives of auditors? - obtain reasonable assurance f/s are free from material misstatement (fraud or error) - express opinion whether f/s prepared in accordance w/ financial reporting framework Exemption from statutory audit - CA 2006 exempts small p. ltd. if 2/3: -> 50 employees or less -&g...

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ACA Assurance Exam Questions With 100% Correct Answers 5 key elements of audit - answer1. 3 party involvement 2. subject matter (f/s) 3. suitable criteria (e.g. UK CGC) 4. evidence 5. written report ISA 200 - what are the objectives of auditors? - answer- obtain reasonable assurance f/s are free from material misstatement (fraud or error) - express opinion whether f/s prepared in accordance w/ financial reporting framework Exemption from statutory audit - answer- CA 2006 exempts small ...

ACA Assurance Exam Questions With 100% Correct Answers 5 key elements of audit - answer1. 3 party involvement 2. subject matter (f/s) 3. suitable criteria (e.g. UK CGC) 4. evidence 5. written report ISA 200 - what are the objectives of auditors? - answer- obtain reasonable assurance f/s are free from material misstatement (fraud or error) - express opinion whether f/s prepared in accordance w/ financial reporting framework Exemption from statutory audit - answer- CA 2006 exempts small ...

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