100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AUE2602 Assignment 2 2024 with Correct Answers R56,37   Add to cart
Quickly navigate to
Preview
  2.  
  3. Auditing Theory And Practice
  4.  
  5. Auditing Theory and Practice

Exam (elaborations)

AUE2602 Assignment 2 2024 with Correct Answers
 10 views  0 purchase
  • Course
  • Auditing Theory and Practice
  • Institution
  • Auditing Theory And Practice

AUE2602 Assignment 2 2024 with Correct Answers Azmeasurezofzhowzwillingzthezauditorzisztozacceptzthatzthezfinancialzstatementszmayzbezmateriallyzmisstatedzafterzthezauditziszcompletedzandzanzunqualifiedzopinionzhaszbeenzissuedziszthe: A)zinherentzrisk. B)zacceptablezauditzrisk. C)zstatistic...

[Show more]

Preview 4 out of 85  pages

Document information

  • October 12, 2024
  • 85
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • aue2602 assignment 2 2024 with correct answers
  • azmeasurezofzhowzwillingzthezauditorzisztozaccept
  • smithzcpazhaszrequestedzpermissionztozcommunicate
  • theztwozmajorzfactorszaffectingzacceptablezauditzr
  • an

Written for

  • Auditing Theory and Practice
  • Auditing Theory and Practice

Seller

avatar-seller
LmstopAchiever

Content preview

AUE2602 Assignment 2 2024 with Correct Answers


Azmeasurezofzhowzwillingzthezauditorzisztozacceptzthatzthezfinancialzstatementszmayzbezmateriallyzmisstat
edzafterzthezauditziszcompletedzandzanzunqualifiedzopinionzhaszbeenzissuedziszthe:

A)zinherentzrisk.

B)zacceptablezauditzrisk.

C)zstatisticalzrisk.

D)zfinancialzrisk.z-zCORRECTzANSWER-b



Azmeasurezofzthezauditor'szassessmentzofzthezlikelihoodzthatztherezarezmaterialzmisstatementszinzanzacco
untzbeforezconsideringzthezeffectivenesszofzthezclient'szinternalzcontrolziszcalled:

A)zcontrolzrisk.

B)zacceptablezauditzrisk.

C)zstatisticalzrisk.

D)zinherentzrisk.z-zCORRECTzANSWER-d



Whenzinherentzriskziszhigh,ztherezwillzneedztozbe:

A)z

AzlowerzassessmentzofzauditzriskzMorezevidencezaccumulatedzbyzthezauditor

YeszYes



B)z

AzlowerzassessmentzofzauditzriskzMorezevidencezaccumulatedzbyzthezauditor

NozNo



C)z

AzlowerzassessmentzofzauditzriskzMorezevidencezaccumulatedzbyzthezauditor

YeszNo

,D)z

AzlowerzassessmentzofzauditzriskzMorezevidencezaccumulatedzbyzthezauditorz-zCORRECTzANSWER-d



Inzwhatzorderzshouldzthezfollowingzstepszoccur?

A.zAssesszclientzbusinesszrisk

B.zUnderstandzthezclient'szbusinesszandzindustry

C.zPerformzpreliminaryzanalyticalzprocedures

D.zAssesszacceptablezauditzrisk

A)zD,zB,zC,zA

B)zB,zA,zC,zD

C)zB,zD,zA,zC

D)zD,zC,zB,zAz-zCORRECTzANSWER-b



Thezauditorzuseszknowledgezgainedzfromzthezunderstandingzofzthezclient'szbusinesszandzindustryztozasses
s:

A)zclientzbusinesszrisk.

B)zcontrolzrisk.

C)zinherentzrisk.

D)zauditzrisk.z-zCORRECTzANSWER-a



Onezofzthezpurposeszofzanzengagementzletterzisztozavoidzmisunderstandingszwithzthezclient.zThisziszimport
antzfor:

A)z

GoodzclientzrelationszFacilitatingzhigh-qualityzworkzatzazreasonablezcost

YeszYes



B)z

GoodzclientzrelationszFacilitatingzhigh-qualityzworkzatzazreasonablezcost

,NozNo



C)z

GoodzclientzrelationszFacilitatingzhigh-qualityzworkzatzazreasonablezcost

YeszNo



D)z

GoodzclientzrelationszFacilitatingzhigh-qualityzworkzatzazreasonablezcost

NozYesz-zCORRECTzANSWER-a



Thezauditorziszlikelyztozaccumulatezmorezevidencezwhenzthezauditziszforzazcompany:

A)z

WhichzhaszlargezamountszofzdebtzWhichzisztozbezsoldzinztheznearzfuture

YeszYes



B)z

WhichzhaszlargezamountszofzdebtzWhichzisztozbezsoldzinztheznearzfuture

NozNo



C)z

WhichzhaszlargezamountszofzdebtzWhichzisztozbezsoldzinztheznearzfuture

YeszNo



D)z

WhichzhaszlargezamountszofzdebtzWhichzisztozbezsoldzinztheznearzfuture

NozYesz-zCORRECTzANSWER-a



Initialzauditzplanningzinvolveszfourzmatters.zWhichzofzthezfollowingzisznotzonezofzthese?

A)zDevelopzanzoverallzauditzstrategy.

, B)zRequestzthatzbankzbalanceszbezconfirmed.

C)zSchedulezengagementzstaffzandzauditzspecialists.

D)zIdentifyzthezclient'szreasonzforzthezaudit.z-zCORRECTzANSWER-b



Smith,zCPAzhaszrequestedzpermissionztozcommunicatezwithzthezpredecessorzauditorzinzorderztozreviewzce
rtainzworkpaperszforzhighzriskzaccountszforzaznewzauditzclient.zTheznewzauditzclient'szrefusalztozallowzthisz
communicationztozoccurzwouldzimpactzRodgerszdecisionzconcerning:

A)zthezauditor'szabilityztozdesignzauditztests.

B)zpossiblezscopezexceptionzdueztozlackzofzaccess.

C)zthezdesirabilityzofzacceptingzthezprospectivezengagement.

D)zviolationzofzthezGAAPzruleszconcerningzconsistencyzandzcomparabilityzofzfinancialzinformation.z-
zCORRECTzANSWER-c




Azsuccessorzauditorzmayzperformzwhichzofzthezfollowingzforzaznewzauditzclient?

A)z

Speakztozlocalzattorneys,zbankszandzotherzbusinesseszregardingzthezcompany'szreputationzSpeakztozthezpr
edecessorzauditorszaboutzdisagreementsztheyzhadzwithzmanagement

YeszYes



B)z

Speakztozlocalzattorneys,zbankszandzotherzbusinesseszregardingzthezcompany'szreputationzSpeakztozthezpr
edecessorzauditorszaboutzdisagreementsztheyzhadzwithzmanagement

NozNo



C)z

Speakztozlocalzattorneys,zbankszandzotherzbusinesseszregardingzthezcompany'szreputationzSpeakztozthezpr
edecessorzauditorszaboutzdisagreementsztheyzhadzwithzmanagement

YeszNo



D)z

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller LmstopAchiever. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R56,37. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77858 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling
R56,37
  • (0)
  Buy now