During which of the following phases of the audit are analytical review procedures required by the auditing standards?
a. The planning phase of the audit.
b. The final review phase of the audit.
c. Both the planning and final review phases of the audit.
d. Performance of tests of controls.
Answer: C
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- Eagle Company's financial statements contain a departure from GAAP because, due to unusual circumstances, the statements would otherwise be misleading. Which of the following audit opinions should the auditor provide?
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- Which of the following describes a situation when an auditor cannot typically issue a standard unqualified audit opinion?
- In which of the following situations would an auditor ordinarily issue an unqualified audit opinion without an explanatory paragraph?
- Which of the following statements is true regarding the auditor's responsibilities related to reporting?
- Which of the following statements is false regarding audit reporting?
- Which of the following is not a typical communication between the auditor and the audit committee?
- Which of the following is the best example of a Type II subsequent event?
- The date of the audit opinion of Upton Industries, Inc. reads: March 7, 2014 except for Note D, as to which the date is March 12, 2014. What is this an example of?
- Management of AllTech, Inc. refuses to sign the management representation letter given to them in the course of the audit on the grounds that it invades the company's privacy. What does this refusal constitute?
- Which of the following statements is false regarding analytical procedures that help auditors assess the overall final presentation of the financial statements?
- Which of the following is not a typical analytical procedure for the completion of the audit?
- If the auditor concludes that there may be a going-concern problem with the client, which of the following is the best course of action for the auditor to follow?
- Which one of the following is false regarding the adequacy of disclosures in a financial statement audit?
- Which of the following is not true regarding accounting estimates?
- When responding to the auditor as a result of the audit client's letter of inquiry, how might the attorney limit the response?
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