George Mariyajohnson
Quiz por , criado more than 1 year ago

Highers Accounting and Finance (Year 2) (Audit & Assurance) Quiz sobre Lecture 7- Subsequent events & letter of representation, criado por George Mariyajohnson em 04-03-2021.

1
0
0
George Mariyajohnson
Criado por George Mariyajohnson mais de 3 anos atrás
Fechar

Lecture 7- Subsequent events & letter of representation

Questão 1 de 34

1

Preencha os espaços em branco para completar o texto.

It is important to remember work that takes place at of audit process. & work is where auditors link work they do as part of their , assessment & initial . Then look at transactional that happen where gap needs to be between when initial was done & what is being done at end

Explicação

Questão 2 de 34

1

Preencha os espaços em branco para completar o texto.

One process that interim examinations would include is looking at on & systems

Explicação

Questão 3 de 34

1

Preencha os espaços em branco para completar o texto.

Another process that interim examinations would include is of year to date

Explicação

Questão 4 de 34

1

Preencha os espaços em branco para completar o texto.

Third process that interim examinations would include is tests on year to date items

Explicação

Questão 5 de 34

1

Preencha os espaços em branco para completar o texto.

Near or at balance sheet date need to reperform of financial statements, do work for period between examination & date, send out confirmation letters & send out confirmation letters

Explicação

Questão 6 de 34

1

Preencha os espaços em branco para completar o texto.

Typical audit work at year-end include chasing letters, chasing & circularisation (kind of confirmation), chase letters to other (could be from , , ), plan observation, make sure there is enough tests of balance sheets & period of year for P&L & finally gather evidence on (cause disagreement) items

Explicação

Questão 7 de 34

1

Preencha os espaços em branco para completar o texto.

One thing that determine before end of audit is whether have been prepared using & accounting principles

Explicação

Questão 8 de 34

1

Preencha os espaços em branco para completar o texto.

Another thing that determine before end of audit is whether published with is compatible with them

Explicação

Questão 9 de 34

1

Preencha os espaços em branco para completar o texto.

Third thing that determine before end of audit is whether & are as required by law & by regulatory bodies & achieve &

Explicação

Questão 10 de 34

1

Preencha os espaços em branco para completar o texto.

Fourth thing that determine before end of audit is whether drawn from tests & overall of financial statements enable an to be formed

Explicação

Questão 11 de 34

1

Preencha os espaços em branco para completar o texto.

Subsequent events are events & , that occur between date & date when are authorised for issue

Explicação

Questão 12 de 34

1

Preencha os espaços em branco para completar o texto.

One type of subsequent event can be identified is those that provide of conditions that existed at date ( events). Another is those that are of conditions that arose after date ( events). has to consider whether any events after date financial statements are (up to & beyond date of annual general meeting)

Explicação

Questão 13 de 34

1

Preencha os espaços em branco para completar o texto.

One audit work that can be carried out to detect subsequent events is e.g. department provides to chief financial officer

Explicação

Questão 14 de 34

1

Preencha os espaços em branco para completar o texto.

Another audit work that can be carried out to detect subsequent events is e.g. board , committees & committees

Explicação

Questão 15 de 34

1

Preencha os espaços em branco para completar o texto.

Third audit work that can be carried out to detect subsequent events is &

Explicação

Questão 16 de 34

1

Preencha os espaços em branco para completar o texto.

Fourth audit work that can be carried out to detect subsequent events is look at & forecasts for period to see performance

Explicação

Questão 17 de 34

1

Preencha os espaços em branco para completar o texto.

Fifth audit work that can be carried out to detect subsequent events is have formal of department & used

Explicação

Questão 18 de 34

1

Preencha os espaços em branco para completar o texto.

Sixth audit work that can be carried out to detect subsequent events is focus on & for type of industry being . Make sure known risk areas are clearly & have been

Explicação

Questão 19 de 34

1

Preencha os espaços em branco para completar o texto.

Seventh audit work that can be carried out to detect subsequent events is look at & with & to ensure they are suitable

Explicação

Questão 20 de 34

1

Preencha os espaços em branco para completar o texto.

Eighth audit work that can be carried out to detect subsequent events is clear from

Explicação

Questão 21 de 34

1

Preencha os espaços em branco para completar o texto.

Ninth audit work that can be carried out to detect subsequent events is in domain e.g. in trade press

Explicação

Questão 22 de 34

1

Preencha os espaços em branco para completar o texto.

Tenth audit work that can be carried out to detect subsequent events is have detailed & have management on areas, new & significant movements (if they have or new ). Also, discussion on status (significant losses of )

Explicação

Questão 23 de 34

1

Preencha os espaços em branco para completar o texto.

Auditor should already be of significant matters of judgement. They should know how to make some when these issues occur

Explicação

Questão 24 de 34

1

Preencha os espaços em branco para completar o texto.

One auditor objective under ISA580 is to obtain representations from … that they believe that they have fulfilled their for preparation of financial statements & for of information … to auditor

Explicação

Questão 25 de 34

1

Preencha os espaços em branco para completar o texto.

Another auditor objective under ISA580 is to other audit evidence relevant to or specific in financial statements … if determined necessary by auditor

Explicação

Questão 26 de 34

1

Preencha os espaços em branco para completar o texto.

Third auditor objective under ISA580 is to appropriately to representations provided by … , or … if do not provide representations requested by auditor

Explicação

Questão 27 de 34

1

Preencha os espaços em branco para completar o texto.

Written representations are provided by & (suggested by ISA 580). But depending on business they may also include other who have specialised knowledge such as , &

Explicação

Questão 28 de 34

1

Preencha os espaços em branco para completar o texto.

One representation that is required is of financial statements in accordance with framework (so with appropriate & )

Explicação

Questão 29 de 34

1

Preencha os espaços em branco para completar o texto.

Another representation that is required is all has been provided & all have been correctly

Explicação

Questão 30 de 34

1

Preencha os espaços em branco para completar o texto.

Third representation that is required is confirm additional representations about e.g. of accounting policies & whether matters have been accounted for given future plans

Explicação

Questão 31 de 34

1

Preencha os espaços em branco para completar o texto.

Fourth representation that is required is representations about specific e.g. from company geologists on whether oil reserves can be extracted

Explicação

Questão 32 de 34

1

Preencha os espaços em branco para completar o texto.

Fifth representation that is required is of managements for controls

Explicação

Questão 33 de 34

1

Preencha os espaços em branco para completar o texto.

Sixth representation in management representation letter is that they believe that effects of misstatements are

Explicação

Questão 34 de 34

1

Preencha os espaços em branco para completar o texto.

Date that letter of representation should bear is date accounts are signed by & date accounts are signed by (similar date)

Explicação