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.
Part IV A of the Indian Constitution deals with_________________
The terms legislation has been derived from two Latin words, legis meaning _______ and latum meaning ______
'la principle de legalite' means:
As per section 7 of the Banking Regulation Act the provisions of this section shall not apply to____.
Which of the following is not a punishment within the meaning of Section 53 of the Indian Penal Code?
Which of the following is not defined in the Indian Evidence Act?
In order to apply the doctrine of Res-Judicata, which of the following is “former suit”?
The Information Technology Act, 2000 shall not apply to_________.
Is a written contract compulsory to be made for a lease?
What does Habeas Corpus mean?