Audit Engagement Independence Guidelines
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Questions and Answers

What does preliminary engagement activities in auditing involve?

  • Conducting risk assessment procedures
  • Developing the audit plan
  • Establishing overall audit strategy
  • Performing procedures related to client relationship continuance (correct)

    • Which activity involves setting the scope, timing, and direction of an audit?

  • Establishing overall audit strategy (correct)
  • Developing audit plan
  • Performing risk assessment procedures
  • Implementing audit programme

    • Why is it important to evaluate compliance with ethical requirements, including independence in auditing?

  • To perform risk assessment procedures
  • To ensure objectivity and integrity in the auditing process (correct)
  • To establish overall audit strategy
  • To avoid misunderstandings with the client

    • What should be documented by the auditor regarding audit planning?

    <p>Overall audit strategy, audit plan, and changes made</p> Signup and view all the answers

    Which of the following is not part of an audit plan?

    <p>Execution of verification procedures on financial statements</p> Signup and view all the answers

    How are the establishment of overall audit strategy and detailed audit plan related?

    <p>Closely interrelated processes</p> Signup and view all the answers

    What does an audit programme consist of?

    <p>&quot;A series of verification procedures&quot; for obtaining evidence on financial statements</p> Signup and view all the answers

    Why should changes in the overall audit strategy be documented by the auditor?

    <p>&quot;To reflect consequential changes upon detailed audit planning&quot;</p> Signup and view all the answers

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