132chapter5homework

132chapter5homework - remains after performance of the...

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YOUR NAME YOUR PERM# ECON 132 Class time CHAPTER 5 HOMEWORK 1. List management’s assertions in the financial statements. 2. The third standard of fieldwork required that auditors obtain this (3 or can be 4 words) to validate management’s assertions about the financial statements: . 3. In order to be considered “competent”, evidence shall be both relevant and? 4. Detection risk represents the risk of material misstatement in the financial statements which
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Unformatted text preview: remains after performance of the audit. (TRUE / FALSE) 5. Client internal controls are designed to prevent and/ or detect material misstatements resulting from what kind of risk? 6. Are analytical procedures considered a form of audit evidence? 7. Client representation represents a strong form of audit evidence (TRUE/ FALSE) 8. You would typically locate a Companys Articles of Incorporation in which audit file?...
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