External auditor

AA – L2 – Q37 – Audit of Financial Statements

Describe external auditor's responsibilities and work for going concern assessment. Describe auditor's reports for going concern issues and their circumstances. List considerations for recommending internal controls for cash sales in a garage.

Question

(a) Describe external auditor’s responsibilities and the work that the auditors must perform in relation to an audit client’s ability to continue as a going concern.

(b) Describe the possible auditor’s reports that can be issued where the ability of a company to continue as a going concern status is called into question; your answer should describe the circumstances in which they can be issued.

(c) You have been asked by your client, a garage proprietor, to advise on a system of internal control for cash sales. Set out the points you would take into consideration before giving your recommendations.

Answer

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Tags: Audit Evidence, External auditor, Going Concern, ISA 570, Risk Assessment
Level: Level 2

Topic: Audit of Financial Statements

AAA – L3 – Q10 – Corporate governance

Explain corporate governance and roles of directors, external auditor, internal auditor, and audit committee.

Question

(a) Explain what is meant by corporate governance.

(b) Explain how the following fit into the workings of corporate governance.

(i) The directors

(ii) The external auditor

(iii) The internal auditor

(iv) The audit committee

Answer

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Tags: Audit committee, Corporate Governance, Directors, External auditor, Internal auditor
Level: Level 3

Topic: Corporate governance

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AA – L2 – Q37 – Audit of Financial Statements

Describe external auditor's responsibilities and work for going concern assessment. Describe auditor's reports for going concern issues and their circumstances. List considerations for recommending internal controls for cash sales in a garage.

AAA – L3 – Q10 – Corporate governance

Explain corporate governance and roles of directors, external auditor, internal auditor, and audit committee.

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Tag (SQ): External auditor

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AA – L2 – Q37 – Audit of Financial Statements

Describe external auditor's responsibilities and work for going concern assessment. Describe auditor's reports for going concern issues and their circumstances. List considerations for recommending internal controls for cash sales in a garage.

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AAA – L3 – Q10 – Corporate governance

Explain corporate governance and roles of directors, external auditor, internal auditor, and audit committee.

You're reporting an error for "AAA – L3 – Q10 – Corporate governance"

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