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Q1. Imagine you are the auditor of an organization and you find that the Trial...

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Accounting

Q1. Imagine you are the auditor of an organization and you find that the Trial balance of the financial year does not tally (Dr and Cr are not equal)

  1. What are the types of audit test you would cover, explain with examples.
  2. Explain the assertions you would apply on transactions and events, on Account balances, and on Presentation &Disclosure.(4 Points)

Answer:

Q2. Chapter 4

When an Auditor finds misstatements in entities financial statements which may be the result of fraudulent act, what should be the role of an auditor under that situation?(2 Points)

Answer:

Q3 Chapter 5

Audit evidence is all that information, from whatever source, used by the auditor in arriving at the conclusions on which the audit opinion is based.

Briefly explain the three main concepts of audit evidences. ( 3 Points)

Answer

Q4. Chapter 7

Explain auditors documentation Process and procedures of internal control over financial reporting (ICFR) and its types of audit reports. (3 Points)

Answer

Q5 Chapter 8

Explain the Concept of Audit Sampling and types of Sampling Risk. (3 Point)

Answer

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