Professional Skepticism

answered on 14-May-24 10:11

In the topic of professional skepticism, If the auditor critically assess the auditor evidence and checks if the documents are geniune, i) Does it take the character of investigation? ii)The fact of checking the genuineness of documents violates the scope of audit? As the scope of audit, does not include investigation and checking genuineness of documents. Do the underlined words in the picture indicate the character of investigation?

latest answer

Thank you so much Mam

Mathangi. S

CA Inter

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3

70

Narrative record

answered on 14-May-24 09:51

Who prepare narrative record?could you please tell me

latest answer

Management will have a description of their internal controls. Basically in word formats or other suitable documents. This is part of their internal documentation. Auditor reviews them in details, and makes working papers for himself too.

Visruth Vichu

CA Inter

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Audit of BFC & NBFC

answered on 14-May-24 09:44

Soft copy of material & question bank not yet uploaded. The reason I ask this is because the contents in the book that I have purchase from indigo learn and your teaching material has little bit variation. Some of the contents not printed in the book. Hence upload the same plz.

latest answer

Yes variation is because of some concepts covered earlier . Wil update that . Question bank will be uploaded .

Sathiyanarayanan P

CA Final

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1

35

Revision

answered on 12-May-24 20:37

What will be the most beneficial way of revision of audit in these 3 days - Watching revision lectures & conceptual understanding or writing practice from RTP/MTP/SAs etc....

latest answer

RTPs try by practicing the writing of answers. ( at least few ) In exam you will be more comfortable.

Prasoon Tiwari

CA Inter

★ 4K+

2

59

same point repeated in this standard

answered on 11-May-24 17:00

madam why is the same point repeated in this standard?it asks us to pursue the audited finacial statements and audit report to verify the correctness of opening balances as a part of the main audit procedure,and as apart of the specific audit procedures...why is that so??

latest answer

Which point is repeated? Can u elaborate ?

aravind lalji

CA Inter

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1

47

clarity regarding preliminary engagement activities

answered on 10-May-24 11:04

madam what is the difference between preliminary engagement activities and and preconditions for audit

latest answer

thank you all :)

aravind lalji

CA Inter

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7

62

engagement letter drafting

answered on 08-May-24 13:42

madam, but shouldnt the engagement letter be drafted by the auditor? and if there is some discrepancy isnt that the fault of the auditor??here in this question it is said that the engagement letter has been issued by mea limited .

latest answer

Appointment letter is issued by management, n engagement by auditor. In practicality it’s management who drafts. But before acceptance auditor should be sure about the content there in. Otherwise he will be guilty of professional misconduct

aravind lalji

CA Inter

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1

48

Professional Ethics

answered on 06-May-24 15:24

Can CA in practise quote client name and fee in Invoices ? Under schedule 1 part 1

latest answer

He has to quote for the purpose of record . It is a standard practice to include name n service rendered

M V Naresh

CA Final

★ 3K+

2

68

Bank Audit

answered on 03-May-24 18:12

In stock audit, there is a word ' funded exposure ' . Please explain what it's.

latest answer

Thanks Sir 🙏🏻

Mehak K

CA Inter

★ 3K+

3

61

Explanation

answered on 03-May-24 07:41

What is the meaning of timeliness of financial reporting

latest answer

Financial statements n other relevant reports should be make available to stakeholder in timely manner .

Jagadesh Viyyapu

CA Inter

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1

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