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In order for auditor to perform audit as per GAAS, only programming independence is required from the audit client.
Ans: Yes I agree with the statement as:Programming independence essentially protects the auditor's ability to select the most appropriate strategy when conducting an audit. In the preliminary evaluation of internal control, auditor documents internal control systems of the audit client. Auditor has only one method- narrative- for providing the overview of the internal control systems.
Ans: Other procedures may also be performed where the information to be obtained there from may be helpful in identifying risks of material misstatement. Examples of such procedures include:
• Internal Control Questionnaire (ICQ), and:
• Accounting and control system flowcharts.
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Sales are shipped FOB shipping point with credit terms n/45. You have verified that the last shipping number used in 2009 was 261,336 and that numbers were used in numerical order.
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In a financial audit, management assertions or financial statement assertions is the set of information that the preparer of financial statements (management) is providing to anoth
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Fitri, a sole proprietor in pulic practice, plans to establish a separate department that will provide internal audit service to his audit clients.
Auditor performs analytical work only at the end of the audit. Ans: I disagree with the statement because: i) Analytical work/procedures are used to obtain an understanding o
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