Summary of Financial Statement Audit Flashcards
A4 M9
1
Q
Engagement Acceptance - which step is this in the audit process?
A
one
2
Q
Assess Risk & Plan Response - which step is this in the audit process?
A
two
3
Q
Perform Procedures & Obtain Evidence - which step is this in the audit process?
A
three
4
Q
Form Conclusions - which step is this in the audit process?
A
four
5
Q
Reporting - which step is this in the audit process?
A
five
6
Q
what are two types of further audit procedures?
A
test of controls
substantive procedures
7
Q
what are two types of substantive procedures?
A
test of details
substantive analytical procedures
8
Q
list the elements of quality control HELPME
A
human resources
engagement/client acceptance & continuance
leadership responsibilities
performance of the engagement
monitoring
ethical requirements
9
Q
A
