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6-19 (Objective 6-1) The followers questions concern the closes attenders do audits. Choose the dress put on response. a. Which of the following best describes the reason why an independent auditor reports on pecuniary statements? (1) A misappropriation of pluss may exist, and it is much in all likelihood to be detected by independent auditors. (2) Different interests may exist between the fraternity preparing the statements and the persons using the statements. (3) A misstatement of line balances may exist and is for the most part corrected as the upshot of the independent auditors work. (4) Poorly designed versed guards may be in existence. b. An independent audit support in the communication of scotch data because the audit (1) confirms the accuracy of counselings financial representations. (2) lends credibility to the financial statements. (3) guarantees that financial data are fair presented. (4) assures the readers of financial statements t hat any charadeulent exertion has been corrected. c. The major reason an independent auditor gathers audit test is to (1) form an look on the financial statements. (2) detect fraud. (3) measure management. (4) assess control risk. 6-20 (Objective 6-3) The following questions deal with errors and fraud. Choose the best response. a.

An independent auditor has the responsibility to design the audit to reserve reasonable self-confidence of detecting errors and fraud that might spend a penny a real(a) effect on the financial statements. Which of the following, if material, is a fraud as defined in au diting standards? (1) Misappropriation of a! n asset or groups of assets. (2) Clerical mistakes in the accounting data underlie the financial statements. (3) Mistakes in the application of accounting principles. (4) Misinterpretation of facts that existed when the financial statements were prepared. b. What self-confidence does the auditor provide that errors, fraud, and direct-effect illegal acts that are material to the financial...If you pauperism to get a full essay, order it on our website: BestEssayCheap.com

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