Which of the following statements would most likely appear in an auditor's engagement letter? O a. Fees for our services are based on our regular per diem rates, plus travel and other out-of-pocket expenses. O b. The auditor's preliminary assessment of the risk factors relating to misstatements arising from fraudulent financial reporting. OC. A reminder that management is responsible for illegal acts committed by employees. O d. After performing our preliminary analytical procedures, we will discuss with you the other procedures we consider necessary to complete the engagement. e. Required evidence is needed to issue a qualified opinion.

Which of the following statements would most likely appear in an auditor's engagement letter? O a. Fees for our services are based on our regular per diem rates, plus travel and other out-of-pocket expenses. O b. The auditor's preliminary assessment of the risk factors relating to misstatements arising from fraudulent financial reporting. OC. A reminder that management is responsible for illegal acts committed by employees. O d. After performing our preliminary analytical procedures, we will discuss with you the other procedures we consider necessary to complete the engagement. e. Required evidence is needed to issue a qualified opinion.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 40MCQ

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Which of the following statements would most likely appear in an auditor's engagement letter? a. Fees for our services are based on our regular per diem rates, plus travel and other out-of-pocket expenses. b. The auditor's preliminary assessment of the risk factors relating to misstatements arising from fraudulent financial reporting. c. A reminder that management is responsible for illegal acts committed by employees. d. After performing our preliminary analytical procedures, we will discuss with you the other procedures we consider necessary to complete the engagement. e. Required evidence is needed to issue a qualified opinion.
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