Which of the following is required documentation in an audit in accordance with generally accepted auditing standards?Select one:a.An audit program setting forth in detail the procedures necessary to accomplish the engagement's objectives.b.A planning memorandum establishing the timing of the audit procedures and coordinating the assistance of entity personnel.c.An internal control questionnaire identifying policies and procedures that assure specific objectives will be achieved.d.A flowchart or narrative of the information system describing the recording and classification of transactions for financial reporting.

The description of an audit in the scope paragraph of the standard audit report includes all of the following except:Select one:a.Assessing control risk.b.Examining, on a test basis, evidence supporting the amount and disclosures in the financial statements.c.Assessing the accounting principles used and significant estimates made by management.d.Evaluating the overall financial statement presentation.

The auditor shall document the overall audit strategy, the audit plan and any significant changes made during the audit engagement to the overall audit strategy or the audit plan, and the reasons for such changes.Select one:TrueFalse

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.

audit procedures

Working papers that record the procedures used by the auditor to gather evidence should beSelect one:a.Viewed as the connecting link between the books of accounts and the financial statements.b.Designed to meet the circumstances of the particular engagement.c.Destroyed when the audited entity ceases to be a client.d.Considered the primary support for the financial statements being audited.