Auditing

Please choose the most appropriate answer for each sentence.
  • 1

    The purpose of an audit is to gather and evaluate evidence in order to form an opinion on the ..... of a company's financial statements.

  • 2

    The audit ..... is usually no more than a page in length and is attached to the financial statements.

  • 3

    Auditors are not responsible for the ..... of the financial statements of an company.

  • 4

    In the financial statements, the company implicitly states that all items, account balances and transactions are ..... valid, complete and accurate.

  • 5

    An error in ..... is committed when the financial statements include an item that should not be included.

  • 6

    An error in ..... is committed when the financial statements do not include an item which should be included.

  • 7

    An error in ..... is committed when the financial statements include incorrect information about an item that should be included.

  • 8

    One of the principal goals of the auditor is to add ..... to this assertion.

  • 9

    Audit risk is the risk that the auditor expresses an inappropriate audit opinion when the financial statements are significantly ......

  • 10

    In addition to the financial statements, the auditor also examines the company's internal ..... procedures for effectiveness.

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