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Benefits of Planning vs Overall Audit Strategy - assistance to auditor
Auditing
answered on 02-Dec-20 14:57
Since Audit Plan and Overall Strategy are closely interrelated. Can we write the points for benefits of audit plan if question asks for benefits of overall strategy and vice versa?
latest answer
They anyways have common points.
Kumarjit Dey
CA Inter
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What does this mean and why should this be recorded in Audit Engagement Letter i.e. in advance before even starting an audit
Auditing
answered on 02-Dec-20 17:27
" reference to the expected form and content of any reports to be issued by the auditor" What does expected form and content mean? If auditor is execting issue a qualified/unqualified report. Such thing? Why should such a thing be stated in advance (before even performing Audit procedures) in the AEL?
latest answer
Thank you.
Kumarjit Dey
CA Inter
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Engagement partner
Auditing
answered on 02-Dec-20 11:17
" refers to the partner or other person in the firm" What does institue mean by "other person"? Does this other person also have to be a Chartered Accountant?
latest answer
Yes.
Kumarjit Dey
CA Inter
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Co act
Auditing
answered on 02-Dec-20 11:17
Sir if any govt co listed under sebi act then it becomes public sector undertaking company,,,, in that case, ,,is rotation section is applicable to this govt public sector company. And sir if govt is listed under sebi in that case also, auditor is appointed by CAG
latest answer
For all govt companies CAG provisions will apply.
DEEP VICKY
CA Final
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Doubt
Accountancy
answered on 02-Dec-20 07:47
Sir is it necessary to take 28 days in February if question is silent about it .? What if it is leap year
latest answer
You can take 29 days with an assumption.
Sri kanaga Varshini
CA Final
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Shouldn't the auditor be disqualified
Auditing
answered on 02-Dec-20 07:49
In most of these example cases (PFA)
latest answer
These are examples of threats to independence. Disqualifications are governed by Act which are based on these principles.
Kumarjit Dey
CA Inter
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Can you give an example of Structural Modeling technique
Auditing
answered on 02-Dec-20 09:48
Of Analytical procedures? In the book it is given linear regression, which i did not understand. Can you give another example?
latest answer
Thank you so much.
Kumarjit Dey
CA Inter
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Are "SCOTs" "WCGW" "TCWG" actual abbreviation used in Auditing?
Auditing
answered on 02-Dec-20 07:55
Can they be used be in writing answers?
latest answer
Advise not to use in exams.
Kumarjit Dey
CA Inter
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Is this an example of "reasonableness test" in Analytical procedures?
Auditing
answered on 02-Dec-20 07:55
Consideration of relationships between financial information and relevant non financial information such as payroll costs to number of employees
latest answer
Yes
Kumarjit Dey
CA Inter
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565
Is Stratification under Sample Design and Stratified Sampling under Sample Selection Methods
Auditing
answered on 02-Dec-20 07:56
The same thing?
latest answer
Yes
Kumarjit Dey
CA Inter
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