WGU D251 Advanced Auditing – Accurate Solutions
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Terms in this set (36)
The auditor should provide an audit False
report on the financial statements only
if the audit opinion indicates that the
financial statements are fairly stated in
all material respects.
The auditor should provide the audit True
opinion in a written report.
,Which of the following statements is d. None of the above statements are false.
false regarding audit reporting?
a. Auditing standards require auditors
to provide positive assurance—that is,
an explicit statement as to whether the
financial statements are presented
fairly.
b. The auditor should provide an
opinion in accordance with the
auditor's findings or state that an
opinion cannot be expressed.
c. The auditor's opinion should state
whether the financial statements are
presented fairly, in all material
respects, in accordance with the
applicable financial reporting
framework.
d. None of the above statements are
false.
, Which of the following statements is a. Auditors should obtain sufficient appropriate
true regarding the auditor's evidence to provide a reasonable basis for the
responsibilities related to reporting? opinion regarding the financial statements under
audit.
a. Auditors should obtain sufficient
appropriate evidence to provide a
reasonable basis for the opinion
regarding the financial statements
under audit.
b. The audit opinion relates only to the
client's financial statements, and does
not relate to the required footnote
disclosures.
c. If the auditor has reservations about
the fairness of presentation of the
financial statements, the auditor does
not need to provide the reason for
this reservation, but needs to only
state that the financial statements are
not fairly presented.
d. All of the above statements are
true.
If an auditor decides to include False
additional language in the audit report
because of concerns about the
client’s ability to remain a going
concern, the additional language
should include the terms material
doubt and going concern.
International auditing standards False
generally permit the auditor to refer to
other auditors in the auditor's report,
while the U.S. auditing standards allow
this reference only if required by law
or regulation.
For Every Question
Save
Terms in this set (36)
The auditor should provide an audit False
report on the financial statements only
if the audit opinion indicates that the
financial statements are fairly stated in
all material respects.
The auditor should provide the audit True
opinion in a written report.
,Which of the following statements is d. None of the above statements are false.
false regarding audit reporting?
a. Auditing standards require auditors
to provide positive assurance—that is,
an explicit statement as to whether the
financial statements are presented
fairly.
b. The auditor should provide an
opinion in accordance with the
auditor's findings or state that an
opinion cannot be expressed.
c. The auditor's opinion should state
whether the financial statements are
presented fairly, in all material
respects, in accordance with the
applicable financial reporting
framework.
d. None of the above statements are
false.
, Which of the following statements is a. Auditors should obtain sufficient appropriate
true regarding the auditor's evidence to provide a reasonable basis for the
responsibilities related to reporting? opinion regarding the financial statements under
audit.
a. Auditors should obtain sufficient
appropriate evidence to provide a
reasonable basis for the opinion
regarding the financial statements
under audit.
b. The audit opinion relates only to the
client's financial statements, and does
not relate to the required footnote
disclosures.
c. If the auditor has reservations about
the fairness of presentation of the
financial statements, the auditor does
not need to provide the reason for
this reservation, but needs to only
state that the financial statements are
not fairly presented.
d. All of the above statements are
true.
If an auditor decides to include False
additional language in the audit report
because of concerns about the
client’s ability to remain a going
concern, the additional language
should include the terms material
doubt and going concern.
International auditing standards False
generally permit the auditor to refer to
other auditors in the auditor's report,
while the U.S. auditing standards allow
this reference only if required by law
or regulation.
