Which of the following is least likely considered by the auditor in developing the overall audit plan?Select one:a.Relevant risk and materiality.b.The involvement of other auditors in the audit of major component of financial statementsc.Understanding of the accounting and internal control systems.d.The general level of competence of audit assistants.

Which of the following least likely affect the form and content of the overall audit plan?Select one:a.The size of the entity.b.The entity's form of business organization.c.Methodology and technology used by the auditor.d.Complexity of the audit engagement.

Which of the following is usually included or shown in the auditor's working papers?Select one:a.The procedures used by the auditor to verify the personal financial status of members of the client's management teamb.Analyses that are designed to be a part of, or a substitute for, the client's accounting recordsc.The manner in which exceptions and unusual matters disclosed by the auditor's procedures were resolved or treatedd.Excerpts from authoritative pronouncements that support the underlying generally accepted accounting principles used in preparing the financial statements

Which statement is incorrect regarding significant risks that require special audit consideration?Select one:a.The auditor should determine which of the risks identified are, in the auditor's judgment, risks that require special audit consideration.b.The auditor excludes the effect of identified controls related to the risk to determine whether the nature of the risk, the likely magnitude of the potential misstatement including the possibility that the risk may give rise to multiple misstatements, and the likelihood of the risk occurring are such that they require special audit consideration.c.Routine, non-complex transactions that are subject to systematic processing are more likely to give rise to significant risks because they have higher inherent risks.d.Significant risks are often derived from business risks that may result in a material misstatement.Clear my choice

Which of the following is least likely a procedure that would be performed by the auditor near the auditor's report date?Select one:a.Reading the minutes of the meetings of shareholders, the board of directors and audit executive committees held throughout the audit year.b.Reading the entity's latest available interim financial statements.c.Audit of subject matter informInquiring of the client's legal counsel concerning litigations and claims.d.Reviewing the procedures that management has established to ensure that subsequent events are identified.

Analytical procedures used in planning an audit should focus onSelect one:a.Providing assurance that potential material misstatements will be identified.b.Assessing the adequacy of the available evidential matter.c.Enhancing the auditor's understanding of the client's business.d.Reducing the scope of tests of controls and substantive tests.