Last Updated on February 2, 2022 by Admin 3
Last Updated on February 3, 2022 by Admin 3
Explanation:
33. Which of the following factors most likely would lead a CPA to conclude that a potential audit engagementshouldNOTbe accepted?A. There are significant related party transactions.B. Internal control activities are subject to management override.C. Management employs an inefficient system of information technology to record financial transactions.D. It is unlikely that sufficient appropriate audit evidence is available to support an opinion on the financialstatements.Answer D 34. In developing an audit strategy, an auditor should Get answer to your question and much more 35.Business risk _________________________________________________________.C Get answer to your question and much more 36.A measure of the auditor's assessment of the likelihood that there are material misstatements in an accountbefore considering the effectiveness of the client's internal control is called:D Get answer to your question and much more 37.When selecting staff for the audit engagement ________________A.only staff members who are CPAs should be assigned to the audit.B.only managers and above need to have appropriate competence and capabilities to perform the audit.C.continuity of staff members from year to year should not be a factor.D.staff assigned to the audit must be knowledgeable about the client's industry.Answer:D 38. In assessing thecompetenceof internal auditors, an independent CPA most likely would obtain informationabout the: Get answer to your question and much more 39. In which of the following circumstances is an auditor most likely to rely on work done by internal auditors? Get answer to your question and much more What factor most likely would lead a CPA to conclude that a potential audit engagement should be rejected?A CPA cannot render an opinion on financial statements unless he or she has obtained sufficient appropriate audit evidence supporting that opinion. If such evidence were unlikely to be available, the CPA would most likely reject the potential audit engagement.
Which of the following situations would lead a CPA to conclude that a potential audit engagement should not be accepted?Which of the following situations would cause a CPA to not accept a new audit engagement? D.) The prospective client is unwilling to make financial records available to the CPA.
What factors most likely cause a CPA to decide not to accept a new audit engagement?Which of the following factors most likely would cause a CPA to decide not to accept a new audit engagement? The CPA's lack of understanding of the prospective client's internal auditor's computer-assisted audit techniques.
Which of the following factors would most likely cause an auditor not to accept a new audit engagement quizlet?Which of the following factors most likely would cause an auditor not to accept a new audit engagement? An inadequate understanding of the entity's internal controls. The close proximity to the end of the entity's fiscal year. Concluding that the entity's management probably lacks integrity.
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Which of the following factors most likely would lead a CPA to conclude that a potential audit engagement?
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