Aca assurance - Study guides, Class notes & Summaries

Reasonable Assurance engagement 1. Evidence Sought 2. Opinion Given 3. Example - 1. 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 - 1. Sufficient and appropriate (less intrusive) 2. negative conclusion 3. Nothing has come to our attention that makes us believe that the subject matter is misstated Stakeholders - Benefits of audit a...

What are the five elements of an assurnace engagement? Criteria, Report, Evidence, Subject matter, Thrid Patry Relationship Who is a practitioner? The person or party carrying out the assurance engagement. What are the two types of assurnace engagement identified under the international framework for assurnace engagement? 1. Resaonable Assurance 2. Limited Assurance What constitues a reasonable assurance? A high level of assurance, suggests that the engagement risk has been reduced to ...

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 Chapter 5 - The Process of Gathering Sufficient Appropriate Evidence with latest update

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What's in an audit strategy - Answer-- broad scope - understand the entity - understand the accounting systems and internal control systems - identifying risk and setting materiality - nature, timing and extent of resources necessary - mgmt, direction and supervision of audit team Audit plan - Answer-- more detailed - nature, timing and extent of the specific audit PROCEDURES required for material issues - ensure appropriate attention is devoted to important areas of the audit - identi...

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