Webcorroborating witness. Corroborating witness is a person whose testimony supports or confirms the testimony already given by someone in a current case. A corroborating … WebResponses to inquiries might provide information that differs significantly from other information that the auditor has obtained.C. Responses to inquiries do not provide a basis for the auditor to modify or perform additional audit procedures.D. Inquiry alone is not sufficient to test the operating effectiveness of controls. C.
AS 2305: Substantive Analytical Procedures PCAOB
WebMar 10, 2024 · Substantive tests of details is an auditing protocol that's necessary when there's a high chance of material misstatement. Its purpose is to verify the auditor's conclusions about the amount of money in accounts and the figures that appear on the client's documents. Professionals gather proof to support their claims on financial statuses. WebApr 13, 2015 · IT Audit Techniques: Inquiry, Observation, Inspection, Re-performance Inquiry. Inquiry is the process of gathering information directly from an individual … some children are natural-born bosses
Revision of ISA 580 “Management Representations” – Issues …
.13 Audit procedures can be classified into the following categories: 1. Risk assessment procedures,6and 2. Further audit procedures,7 which consist of: 2.1. Tests of controls, and 2.2. Substantive procedures, including tests of details and substantive analytical procedures. .14 Paragraphs .15-.21 of this standard … See more .01 This standard explains what constitutes audit evidence and establishes requirements regarding designing and performing audit … See more .04 The auditor must plan and perform audit procedures to obtain sufficient appropriate audit evidence to provide a reasonable basis for his or her opinion. .05 Sufficiency is the measure of the quantity of audit evidence. … See more .03 The objective of the auditor is to plan and perform the audit to obtain appropriate audit evidence that is sufficient to support the opinion expressed in the auditor's report.1 See more .11 In representing that the financial statements are presented fairly in conformity with the applicable financial reporting framework, management implicitly or explicitly … See more Web¶ The primary source of information about litigation , claims , and assessments is the client ’s management . ¶ The primary source of corroborative evidence in this regard is the client ’s legal counsel ( i.e. , documentations and communications between the client and their counsel / lawyer ) . WebWhich statement is incorrect regarding Inquiry? a. Responses to inquiries may provide the auditor with information not previously possessed or with corroborative audit evidence. b. Responses to inquiries might provide information that differs significantly from other information that the auditor has obtained. c. small business loan manitoba