Cpa aud certification - Study guides, Class notes & Summaries

Top-down approach:Financial statement level -> entity level -> account balance Who is responsible for counting the inventory in substantive test?Client, Not Auditor Use proof of authorization of BOD about investment ->-> controls related to investment Unqualified opinion maybe expressed if auditor did not find any (Integrated audit)Material weaknesses in internal controls (significant deficiences still okay) Significant deficienciesImportant enough to merit attention by those...

Top-down approach:Financial statement level -> entity level -> account balance Who is responsible for counting the inventory in substantive test?Client, Not Auditor Use proof of authorization of BOD about investment ->-> controls related to investment Unqualified opinion maybe expressed if auditor did not find any (Integrated audit)Material weaknesses in internal controls (significant deficiences still okay) Significant deficienciesImportant enough to merit attention by those...