Reference no: EM132725687

Problem 1: At the planning stage during the course of an audit assignment the auditor takes regard for audit evidence decisions that involve:

a. Place where admin of audit should be carried out
b. Which audit procedures to use and sample size
c. The audit partner stays neutral to audit process
d. All audit evidence must be verified by the audit manager
e. All the above

Problem 2: An auditor must take regard for asset verification and related audit procedure when conducting and asset audit. This must include:

a. Supplier shipping documents
b. Verification of existence of the asset
c. Occurrence of the purchase transaction of the asset
d. Tangible inspection of the asset
e. All of the above

Problem 3: The quality and quantity of audit evidence must have one or possibly more of the following criteria:

a. Only a large sample of audit evidence will suffice
b. It must be sufficient and appropriate
c. It must be relevant to the current year and verifiable
d. Audit evidence generated within the company does not need to be verified
e. Only b and C above

Problem 4: An important aspect of audit evidence is that during the course of an external audit the audit evidence must be:

a. Mostly from an internal source
b. Only verbal evidence
c. Internal to the company only
d. Evidence should be verifiable and relevant to the current audit
e. None of the above

Problem 5: An essential feature of an external audit is the process of gathering sufficient and appropriate audit evidence. audit evidence may be acquired by the auditor in which of the following forms:

a. Observations made by an auditor
b. Verbal responses to the auditor from employees of the company that is being audited
c. Written communications from external sources such as lawyers
d. Evidence may take any of the above forms
e. Only a and c are correct forms of evidence