Seminar Corporate Finance

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a. Which of the undermentioned best describes why an independent auditor is asked to declaim an opinion on the fair launching of financial statements?

autonomic nervous system (3) The opinion of an independent party is needed because a troupe may not be objective with respect to its have financial statements.

b. Independent auditing can be best expound as

Ans. (2) A discipline that attests to the results of accounting and other utilitarian operations and data

c. Which of the following professional services is an attestation plight?

Ans. (2) An engagement to report on compliance with statutory requirements

d. Which of the following attributes is likely to be unique to the audit work of certified public accountants as compared to the work performed by practitioners of the professions?

Ans. (3) Independence


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a.
Operational audits generally have been conducted by internal auditors and governmental audit agencies but may be performed by certified public accountants. A primary advise of an operational audit to provide

resolution. (2) A measure of management proceeding in meeting organizational goals

b. In comparison to the out-of-door auditor, an internal auditor is more likely to be implicated with

Answer. (3) operational auditing

c. Which of the following best describes the operational audit?





Answer (4) It concentrates on seeking aspects of operations in which waste could be reduced by the introduction of controls

d. submission auditing often extends beyond audits leading to the expression of opinions on the fairness of financial presentation and includes audits of efficiency, economy, effectiveness, as well as

Answer. (3) Adherence to specific rules or procedures


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1. IRS/Compliance audit

2. GAO/Operational audit

3. Internal auditor/Operational audit

4. CPA/ pecuniary statement

5. GAO/Operational audit

6. CPA/Financial statement

7. GAO/financial statement

8. IRS/Compliance audit

9. CPA/Financial statement

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