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6-19 (Objective 6-1) The followers questions concern the discernments tenders do audits. Choose the dress lid response. a. Which of the next ruff describes the reason why an item-by-item listener reports on pecuniary statements? (1) A misappropriation of pluss whitethorn exist, and it is more than in all likelihood to be detected by independent auditors. (2) Different interests may exist between the bon ton preparing the statements and the persons using the statements. (3) A misstatement of depict balances may exist and is broadly corrected as the answer of the independent auditors work. (4) Poorly designed write controls may be in existence. b. An independent audit advocate in the communication of economic information because the audit (1) confirms the accuracy of advocates monetary representations. (2) lends believability to the fiscal statements. (3) guarantees that financial information are fairly presented. (4) assures the readers of financial statements that any fraudulent crusade has been corrected. c. The major reason an independent auditor gathers audit interrogation is to (1) form an opinion on the financial statements. (2) detect fraud. (3) measuring management. (4) assess control risk. 6-20 (Objective 6-3) The following questions deal with errors and fraud. Choose the best response. a.

An independent auditor has the responsibleness to design the audit to countenance reasonable assurance of observe errors and fraud that might take place a penny a real(a) effect on the financial statements. Which of the following, if material, is a fraud as defined in auditing standards? (1) peculation of an asset or groups of assets. (2) clerical mistakes in the accounting data underlie the financial statements. (3) Mistakes in the application of accounting principles. (4) mistaking of facts that existed when the financial statements were prepared. b. What assurance does the auditor provide that errors, fraud, and direct-effect illegal acts that are material to the financial...If you want to go a full essay, hostel it on our website: Orderessay

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