Whether sufficient appropriate audit evidence has been obtained to reduce audit risk to an acceptable low level, and thereby enable the auditor to draw reasonable conclusion on which to base the auditor’s opinion, is a matter of ________.
Professional Judgement is the application of relevant training, knowledge and experience within the context provided by auditing, accounting and ethical standards in making informed decisions about the courses of action that are appropriate in the circumstances of the audit engagement. It is required with respect to Materiality and audit risk, nature, timing and extent (NTE) of audit procedures, evaluating sufficiency & appropriateness of audit procedures, evaluating management judgement in applying applicable FRF and drawing conclusions based on audit evidence As per the SA 200, the other key requirements of an Independent Auditor include: · Ethical requirements – comply with relevant ethical requirements and it includes adhering to independence with respect to audit engagements. code of ethics are issued by ICAI. Examples – integrity, objectivity, professional competence and due care, confidentiality, professional behaviour · Professional Skepticism – attitude that includes a questioning mind, being alert to conditions which may indicate possible misstatement due to error or fraud and a critical assessment of audit evidence. Alertness is required with respect to Contradictory audit evidence, reliability of documents, conditions indicating possible fraud, circumstances requiring audit procedures in addition to those suggested in SAs. · Sufficient Appropriate Audit Evidence and Audit Risk - Sufficiency refers to quantum and appropriateness refers to quality. Purpose is to reduce audit risk to an acceptably low level and thereby enable the auditor to draw reasonable conclusions on which to base the auditor’s opinion.
Where is the capital of Switzerland?
The currency of North Korea is:
What is the currency of Greece?
_________ is the capital of Somalia.
What is the capital of Lakshadweep?
Which city was the capital of Pandya dynasty?
Which of the following is the currency of Japan.
Architect Marina becomes first South Asian to win Lisbon Triennale Lifetime Achievement Award. She Belongs to ?
Which of the following is the capital of Mauritius?
.___________ is the currency of Fiji.