Audit: set 2
10 questions. Click an option: a correct answer turns green, a wrong one red, and an explanation appears.
An "Emphasis of matter" paragraph was added to the auditor's report. How does this affect the auditor's opinion?
The financial statements of "Bodomzor savdo" LLC significantly overstate revenue, inventories and receivables: the misstatements are material and spread across the main items of the statements (pervasive). The auditor confirmed this with sufficient evidence, and management refused to correct them. What opinion is expressed under ISA 705?
When was Law ZRU-677 "On Auditing Activity" adopted?
In the registers of Nurli kelajak LLC, the auditor saw the following correction: the accountant did not delete the erroneous entry but recorded it in the same amount with the debit and credit accounts swapped, and then made the correct entry. Which correction method is this?
The auditor saw that at Oqtepa qurilish LLC inventories were counted on 20 October of the reporting year. Under NAS No. 19, is it mandatory to count these inventories again before preparing the annual financial statements?
After the balance sheet date, in January, Bo'ston mebel signed a contract to buy major equipment for a new workshop. There was no such obligation at the balance sheet date and no effect on assets and liabilities, but the event is material. Under NAS No. 16, how is it reflected in the statements?
The balance sheet of Charxpalak savdo LLC is prepared as at 31 December. In February, before the statements are authorized for issue, the auditor found that a major customer had been declared insolvent; this customer's debt also existed at the balance sheet date. What is done under NAS No. 16?
In preparing a report, an auditor wants to use the texts of ISA 700 and ISA 705 and the model auditor's reports. On the official page of which body are they posted?
Which standard governs quality management at the level of an individual audit engagement for financial statements?
The auditor compared annual payroll costs with the number of employees, found a significant difference from the expected amount and began investigating the cause. Under ISA 520, what kind of procedure is this?