Podcast
Questions and Answers
What is the purpose of discussing matters with management before communicating with those charged with governance during an audit?
What is the purpose of discussing matters with management before communicating with those charged with governance during an audit?
- To delegate audit responsibilities to management
- To undermine management's authority
- To avoid disclosure to third parties
- To clarify facts and issues (correct)
When is it inappropriate to discuss matters with management before communicating with those charged with governance?
When is it inappropriate to discuss matters with management before communicating with those charged with governance?
- When discussing management's competence or integrity (correct)
- When sharing information with internal auditors
- When clarifying facts and issues
- When seeking further information and explanations
Why might an auditor discuss matters with the internal auditor before communicating with those charged with governance?
Why might an auditor discuss matters with the internal auditor before communicating with those charged with governance?
- To delay the audit process
- To maintain confidentiality from third parties
- To bypass management's involvement
- To seek clarification or additional information (correct)
In what situations may those charged with governance provide third parties with written communications from the auditor?
In what situations may those charged with governance provide third parties with written communications from the auditor?
What is the primary responsibility of management in preparing financial statements?
What is the primary responsibility of management in preparing financial statements?
Why is it important for the auditor to discuss matters with management before communicating with those charged with governance?
Why is it important for the auditor to discuss matters with management before communicating with those charged with governance?
What is the role of the internal auditor in the communication process within an entity?
What is the role of the internal auditor in the communication process within an entity?
When should an auditor engage in discussions with the internal auditor?
When should an auditor engage in discussions with the internal auditor?
What impact does discussing matters with management have on the audit process?
What impact does discussing matters with management have on the audit process?
How does communication with third parties relate to the auditor's responsibilities during an audit?
How does communication with third parties relate to the auditor's responsibilities during an audit?
