The most assurance an engagement can provide is if the engagement is with a qualified witness. A qualified witness is someone who has experience in the field of authentication and authentication technology. Contents Some examples of assurance services include fireproofing, security patrols, and smoke detectors. What are the 3 types of attestation service?A. Authentication serviceB. Authorization serviceC. Confirmation service Which type of audit evidence is the most commonly used in an audit?The most commonly used audit evidence is financial statement evidence. What are the levels of audit?The levels of audit are as follows:1. Internal Auditing 2. Auditor General 3. Chief Executive Officer 4. Board of Directors 5. Corporate Ethics What is attestation and assurance service?Attestation and assurance service is a service that provides attestations of a document’s authenticity, completeness, and validity. This service can be used to provide assurance to customers that a document is from the source it claims to be. Which of the following types of audit evidence is most reliable?A. Audit dataB. Audit resultsC. Audit findingsC. Audit findings What types of attestation and assurance services do auditors provide?Auditors provide assurance services to help organizations maintain their financial statements. Auditors may also provide attestations, which are documents that certify that the financial statements are free of any wrongfully acquired assets or wrongfully withheld income. What type of assurance an auditor should provide in a financial report audit?An auditor should provide assurance that all financial statements are accurate, including statements about fair value of financial assets and liabilities. What sort of evidence is needed for a reasonable assurance engagement?Evidence needs to be provided that the engagement will lead to a meaningful and positive impact on the organization. Which of the following types of audit evidence is best defined as the proof of a fact without reliance on presumptions for support?The evidence of a fact without reliance on presumptions is called “evidence of a fact.” What is assurance engagement in auditing?assurance engagement in auditing is the process of providing assurance that the financial statements of a company are accurate and complete. assurance engagement in auditing can include audits of financial statements by outside auditors, internal audits, and review of financial statements by independent registered public accounting firms. What are the levels of assurance?The levels of assurance are: high, medium, low. What is audit evidence?Audit evidence is evidence that a company has complied with accounting and financial reporting requirements. Which of the following generally provides the most reliable evidence?A. A human’s heart rate variability is a good predictor of their healthB. A person’s age is a good predictor of their healthC. A person’s sex is a good predictor of their healthC. A person’s sex is a good predictor of their health What are the 7 types of audit evidence?There are seven types of audit evidence: financial statements, performance audits, internal control audits, financial statement analysis, auditor’s report, and the notes to the financial statements. What are the methods of obtaining audit evidence?There are many methods of obtaining audit evidence, but some of the most common are:-Interviewing the auditors-Reviewing the financial statements-Checking the books and records-Reviewing the records of the company’s customers-Checking the records of the company’s employees Which of the following services provides the lowest level of assurance?A. Online securityB. Online privacyC. Online security and privacyC. Online security and privacy What are the main sources of audit evidence?There are many different sources of audit evidence, but some of the most common are reviews of financial statements, audits of internal control procedures, and audits of financial statements and other financial reports. Which of the following would best be described as an assurance service group of answer choices?An assurance service group provides customer support and assurance to customers. What level of assurance is provided by the auditor in an audit engagement?An auditor’s level of assurance is a measure of how confident they are that the information they are reviewing is accurate and complete. The higher the level of assurance, the more likely the auditor is to find that the information is accurate and complete. The highest level of assurance in auditing is the assurance that the auditor is able to identify and correct any potential problems with the audit data. What are the elements of assurance engagement?assurance engagement is the process of designing, implementing, and managing a system to provide assurances to customers that their needs will be met. assurance engagement can take many forms, including but not limited to: customer service, product support, and technical support. What are the types of attestation?There are a few types of attestations that could be used for a contract:1. Name2. Date3. Place4. Signature5. Notarized Statement What is moderate level of assurance?What is moderate level of assurance? What is the strongest audit evidence?The strongest audit evidence is when the auditor finds evidence of possible fraud or other irregularities in the financial statements. What is reasonable assurance and absolute assurance?Reasonable assurance is an assurance that a particular event will not occur, while absolute assurance is an assurance that the event will occur. What is types of audit evidence?There are many types of audit evidence, but some of the most common are financial statements, performance reports, and audits. What type of audit evidence would most likely be used to verify the existence of fixed assets?An audit would use evidence such as cash flow statements, bank statements, and other financial records to verify the existence of fixed assets. Which type of audit evidence is the most reliable and why?The most reliable audit evidence is the evidence that is most consistent with the results of the audit. This is because it is the most likely evidence to reflect the truth of the audit results. What type of assurance does an audit provide?An audit provides assurance that the financial statements are free of untrue statements of financial position, income, expenses, and cash flows. What are the 4 types of audit evidence?What Are the Types of Audit Evidence?. Physical examination. ... . Confirmations. ... . Documentary evidence. ... . Analytical procedures. ... . Oral evidence. ... . Accounting system. ... . Reperformance. ... . Observatory evidence.. What is the best type of audit evidence?Examples of auditing evidence include bank accounts, management accounts, payrolls, bank statements, invoices, and receipts. Good auditing evidence should be sufficient, reliable, provided from an appropriate source, and relevant to the audit at hand.
Which of the following forms of evidence gathered by an independent auditor is most reliable?Documentary evidence is more reliable when it is received by the auditor indirectly rather than directly. Evidence is usually more persuasive for balance sheet accounts when it is obtained: as close to the balance sheet date as possible.
Which of the following types of audit evidence is the most reliable?Information obtained indirectly from outside sources is the most reliable audit evidence.
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Which of the following types of audit evidence is best defined as the proof of a fact without reliance on presumptions for support?
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