Auditing theory quizlet

How long does it take to audit a big company?
How Long Does A Company Audit Take? A company audit can take anywhere from a few hours to a few months, depending on the size of your company.
It is important to remember that an audit may need to be completed as often as every year and can take time even if you aren't planning on doing any changes in your company..
Internal auditing is also part of the behavioral theory.
On the one hand, the auditor looks for satisfactory solutions, proposes to improve the processes, control mechanisms and procedures, striving for a solution that is closest to the optimal one.

1)large non-auditing fees2)consulting services provided3)familiarity4)Anderson assisted with internal audit work5)weak audit committee.,Rating 5.0 (2) A.
The use of selective testing.
B.
The fact that much of the evidence available to the practitioner is persuasive rather than conclusive.
C ,an engagement in which a practitioner expresses a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party ,Audit evidence includes both information contained in the accounting records underlying the financial statements and other information." where can audit ,audit evidence is "information used by the auditor in arriving at the conclusions on which the auditor's opinion is based.
Audit evidence includes both ,For how long must internal controls have been operating effectively for an auditor to express an opinion on internal controls? A sufficient period of time

How do you conduct an audit?

Perform procedures regarding the continuance of the client relationship and the specific audit engagement

,II

Evaluate compliance with relevant ethical requirements, including independence

,III

Establish an understanding of the terms of the engagement

Multiple-choice Identify the client's reason for the engagement

What is audit quality?

Audit quality is achieved when the audit is performed in accordance with GAAS and when it provides reasonable assurance that the financial statements have been presented in accordance with GAAP and are not materially misstated due to errors or fraud (True or False)

What is the cornerstone of the auditing profession?

Independence is referred to as the cornerstone of the auditing profession (True or False) The sole responsibility of management with regard to financial reporting involves preparing and presenting financial statements in accordance with the applicable financial reporting framework (True or False)

Auditing theory quizlet

How long does it take to audit a big company?

How do you conduct an audit?

What is audit quality?

What is the cornerstone of the auditing profession?