1. Consider the following statements: L. In the final stage of the audit, analyt
ID: 2555782 • Letter: 1
Question
1. Consider the following statements: L. In the final stage of the audit, analytical review is used to assess the auditors' conclusions (ie. audit opinion) regarding the overall financial statement presentation. Il. If the auditor determines that informative disclosures are not reasonable adequate, the auditor must identify that fact in the auditor's report. a. I is true; Il is true b. I is true; Il is false c. I is false; II is true d. I is false; II is false 2. Consider the following statements:Explanation / Answer
Option A is a correct answer.
An auditor is require to do analytical review at two stages of audit, in the start and in the end. In the end it is to be reviewed that overall audit opinion is correct to the operations of the company by taking analytical view and comparing values.
The auditor must either express and opinion regarding the financial statements, taken as a whole, or state that an opinion cannot be expressed, in the auditor's report. When the auditor cannot express an overall opinion, the auditor should state the reasons therefore in the auditor's report.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.