Reference no: EM131287846
1. If an auditor's omitted procedures impair the auditors ability to support the original audit opinion the auditor first should:
Contact the appropriate regulatory agency.
Arrange to apply the omitted procedures.
Issue a revised audit report.
Withdraw from next year's audit engagement.
2. If the client significantly restricts the scope of the audit to the extent that the auditor is unable to form an opinion, the auditor should:
Report the mattre to the appropriate regulatory body.
Issue an adverse opinion.
Issue a disclaimer of opinion.
Increase the audit resources applied to the audit.
3. When the auditor decides not to take responsibility for the work of another auditor, he would normally issue:
An adverse opinion.
An unmodified report with explanatory language.
A disclaimer of opinion.
A qualified opinion because of an uncertainty.
4. Which of the following is not true regarding the auditor's test counts made during the observation of inventory?
The auditor should determine that the client is accounting for all inventory tags.
The test counts should be traced by the auditor to the client's inventory listing.
The auditor should note any obsolete or damaged merchandise.
The inventory observation provides the auditor with an opportunity to test the presentation assertion.
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