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Which statements is not true of international standards

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Reference no: EM132856860

Problem 1. If the auditor calculated the materiality according to the formula method and found that the level of materiality is 10,000 dinars, and upon checking the accounts, he found a set of errors, namely: 200 dinars error in sales account, 4,600 dinars error in calculating depreciation expense, 400 dinars errors due to non-recording purchases, 55 dinars errors in the salary expense account.  These errors are considered:

a. Unqualified
b. Qualified
c. Disclaimer
d. Adverse
e. None of the above

Problem 2. Which of the following statements is not true of International Standards on Auditing?

a. Departure from them must be justified
b. They are to be applied in the audit of financial statements
c. They contain objectives and requirements and related guidance
d. They may override local regulations in a particular country

Reference no: EM132856860

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