Auditing examen

Topics: Audit, Auditing, Internal control Pages: 1 (169 words) Published: January 5, 2015
jeudi 18 décembre 2014

AUDITING
Questions d’examen
1) Explain why an external auditor can never give absolute assurance aout the quality of the financial statements
2) What do audit firms and the audit profession do to guarantee the quality of the audit work? separate the two parts.
3) Explain the following statement: « assessing risk is the core of the audit? the rest of the audit is designed to provide a response to these identified risks » 4) How would you describe a week internal control system? Use some specific examples and explain what is the impact of the audit process? (5 five components of ICS)

5) Explain the following audit techniques, when are they typically (i.e. commonly used e.g. « when observation is used typically? ») used in the audit process, classify them according to their reliability (indicate what’s most reliable and what’s least reliable and the cost related to these techniques) and discuss the reasoning behind this classification:

- Observation
- Inspection
- Inquiry
- Re-calculation
- Analytical procedures
- Re-performance
- Confirmation

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