1 Auditors obtain an understanding of a nonpublic entity's internal control for the primary purpose of:
A) Gathering sufficient evidence to provide a reasonable basis for an opinion on the financial statements.
B) Determining the nature, extent,
FINAL EXAM -AUDITING
1) The current file of the auditor's working papers should generally include
Copies of bond and note indentures.
b. A flowchart of the accounting system
A copy of the financial statements
d. Organizational charts.
2) When an ent
1. Independent auditing can best be described as
A) A branch of accounting.
@.disciPline that provides assurance regarding the results of accounting and other functional operations and data.
C) A professional activity that measures and communica