Operational and Governmental Compliance Auditing
In a broad sense, society benefits from internal auditing
because the internal auditor
Encourages corporate compliance with standards of
Promotes the efficient and e
Other Assurance Services
1. A study and evaluation of internal control made in
connection with an annual audit is usually not sufficient
to express an opinion on an entity's internal control
Weaknesses in the system may go unno
An auditor would issue an adverse opinion if
The audit was begun by other independent auditors who
withdrew from the engagement.
A qualified opinion cannot be given because the
auditor lacks independence.
Substantive Audit Testing:
Auditor confirmation of accounts payable balances at the
balance sheet date may be unnecessary because
This is a duplication of cutoff tests.
Accounts payable balances at the balance s
Substantive Audit Testing: Financing and
Which of the following expressions is least likely to be
included in a client's representation letter?
No events have occurred subsequent to the balance sheet
date that requir