Question

Question 18 (1 point)

Which of the following items is excluded from an engagement letter?

Question 18 options:

	Audit scope and objective
	Auditor and management responsibilities
	Inherent audit limitations
	Type of opinion to be expressed

Question 19 (1 point)

In which step of the audit do auditors conduct tests of controls?

Question 19 options:

	Assess the risk of misstatement
	Form an opinion
	Obtain an understanding of the client
	Perform further audit procedures

Question 20 (1 point)

How long do auditors have after the report release date to complete the audit file by assembling the final set of audit documentation?

Question 20 options:

	15 days
	30 days
	45 days
	60 days

Question 21 (1 point)

Saved

In which audit procedure to gather evidence does the auditor obtain a written representation letter?

Question 21 options:

	Analytical procedures
	External confirmation
	Inquiry of knowledge
	Inspection of records and documents

Answer 1

Answer 18

Type of opinion to be expressed

in engagement letter nothing is mentioned about the types of opinion to be expressed it only explains about all the terms and conditions of audit, scope, responsibilities etc but not the opinions to be given

Answer 19

Assess the risk of misstatement

In assessing the risk of misstatement the auditor conducts tests of control to check the effectiveness of control installed by client to avoid risk of any misstatement

Answer 20

45 days

because as per Auditing standard on Audit Documentation an auditors have 45 days after the report release date to complete the audit file by assembling the final set of audit documentation

Answer 21

Inquiry of knowledge

because the Auditor may require management to give written representation with respect to some inquiry auditor may have about the assertion , or rules or procedure applied by management

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