Reference no: EM132716700

Problem 1: Which of the following statements concerning an auditor's use of the work of an auditor's expert in assessing the value of client's intangible assets is correct?

A. The reliability of the work of an auditor's expert is the same as the reliability of the work of a management's expert.
B. The auditor must assess the objectivity of an auditor's expert

Problem 2: Which of the following statements best describes the auditor's responsibility for material subsequent events?

A. The auditor has responsibility to undertake audit procedures to identify material subsequent events occurring before the completion of audit field work.

B. The auditor has responsibility to undertake audit procedures to identify material subsequent events occurring before the date of the audit report.

C. The auditor has responsibility to undertake audit procedures to identify material subsequent events occurring before the payment of the total audit fee owing to the audit firm.