3A Flashcards
1
Q
Auditors normally do not need to report fraud to outside. In what cases do they need to report?
A
To comply with certain legal and regulatory requirements
To a successor auditors
To respond to subpoena
To funding agency
When those charged with governance failed to take corrective actions
2
Q
During every stage of audit, auditors should consider
A
Risk of MM due to fraud
3
Q
Audit risk
A
FS are materiality misstated but the opinion is not appropriately modified.
4
Q
Analytical procedures are used at which points of audit and for what testing?
A
Planning and final review for AP
5
Q
Attribute sampling is used for
A
TofC - authorization, validity, completeness, accuracy, appropriate classification, accounting in conformity with GAAP
