Category: Practice Questions
What are the situations that may be indicative of dominant influence exerted by a related party. Indicators of dominant influence exerted by a related party include the following: Significant transactions are …
Sufficient Appropriate Audit Evidence Sufficiency is the measure of the quantity of audit evidence. The quantity of audit evidence needed is affected by the auditor’s assessment of the risks of …
Audit Evidence The outcome of an audit is a report, usually expressing an opinion.That report and opinion must be supportable by the auditor, if challenged.Therefore, the auditor will collect evidence …
Professional Judgment: It means making informed decisions by a professional accountant about the courses of actions that are appropriate in the circumstances during an audit engagement, in the context of …
Intimidation Threat Intimidation threat: This may occur when a chartered accountant may be deterred from action objectively by threats, actual or perceived. Being threatened with dismissal or replacement in relation to …