hadasmolina
Test por , creado hace más de 1 año

The role of the Auditor. what the Auditor provides and who reports to. Quality of assurance provided. Principles of how to conduct an audit

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hadasmolina
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Audit

Pregunta 1 de 9

1

What is the role of the Auditor?

Selecciona una de las siguientes respuestas posibles:

  • Reports on the Financial Statements to the Intended user

  • Provides Assurance on the quality of the FS

  • Reports on the Financial Statements to the Responsible party.

Explicación

Pregunta 2 de 9

1

The objective of the audit is to provide information on the financial situation of the company.

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 3 de 9

1

The objective of the audit is to provide an opinion on the true and fairness of the FS of the company

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 4 de 9

1

What is the objectives of an auditor?

Selecciona una de las siguientes respuestas posibles:

  • To provide IT support

  • To review the FS and give their opinion on the truth and Fairness on the FS and report to the intended user.

  • To do an inventory of all the assets that the company holds

Explicación

Pregunta 5 de 9

1

What does it mean the information on the FS are True?

Selecciona una o más de las siguientes respuestas posibles:

  • The information is correct and Factual. It conforms with the reality, the accounting principles and any relevant legislation. Lastly, the information is similar to the underlying accounting records that have been entered during the year.

  • The information is clear, impartial and umbias

Explicación

Pregunta 6 de 9

1

Information to be Fair, means: the information is clear, impartial and unbiased. Information reflects the commercial substance of the transactions of the entity.

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 7 de 9

1

What are the principles of an audit?

Selecciona una de las siguientes respuestas posibles:

  • To conduct the audit with ethics complying with the ISA's and any relevant legislation. And, to conduct the audit with Professional Skepticism.

  • The FS contain clear and impartial information.

Explicación

Pregunta 8 de 9

1

The Pros of an audit is that: the audit provides reliable information. It is a deterrent for Mgt. (i.e: Fraud, Bias)
Increase the credibility of FS. Provides independent view to Shareholders.

Selecciona uno de los siguientes:

  • VERDADERO
  • FALSO

Explicación

Pregunta 9 de 9

1

What are the down sides of an Audit?

Selecciona una de las siguientes respuestas posibles:

  • There are limitations because not all transactions are tested. only sample testing. Place some reliance on Mgt. It is subjective as it is choose what to test to conduct.

  • The information is impartial, clear and unbias.

Explicación

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