ISA 260 – NBC Institute

AA – Nov 2017 – L2 – Q5b – Completion Procedures and Reporting

Explain three matters that should be communicated to those charged with governance as per ISA 260.

Question

ISA 260 Communication with those charged with governance requires that certain issues are communicated to those charged with governance. You are an audit manager of Adiepena and Co. Chartered Accountants, and one of the junior staff has asked you about concerns that can be communicated to those charged with governance.

Required:
Explain three matters that could be communicated to those charged with governance.
(3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Matters, Audit report, Communication, Going Concern, Governance, ISA 260, Significant Accounting Policies
Level: Level 2

Topic: Completion Procedures and Reporting
Series: NOV 2017

AA – Nov 2020 – L2 – Q5c – Completion Procedures and Reporting

Discuss key matters to include in the communication with those charged with governance.

Question

You have completed the audit engagement for ABC Company Ltd, and the engagement partner has asked the audit manager to bring the draft communication with those charged with governance for discussion. You were among the audit field staff who performed the audit and prepared the working papers and documented issues for management’s considerations.

Required:
Discuss the main matters that should be included in the communication with those charged with governance.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit findings, Auditor’s Independence, Communication, Governance, ISA 260, Reporting
Level: Level 2

Topic: Completion Procedures and Reporting
Series: NOV 2020

AA – Aug 2022 – L2 – Q5a – Completion Procedures and Reporting

Identifies the responsibilities of those charged with governance and matters communicated by auditors.

Question

ISA 260 (Revised and Redrafted): Communication with Those Charged with Governance deals with the auditor’s responsibility to communicate with those charged with governance in relation to an audit of financial statements.

Required:
i) Identify TWO (2) specific responsibilities of those charged with governance.
(2 marks)

ii) Explain FOUR (4) examples of matters that might be communicated to them by the auditor.
(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Communication with auditors, Governance responsibilities, ISA 260
Level: Level 2

Topic: Completion Procedures and Reporting
Series: AUG 2022

AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting

Describes the purpose of a management letter and outlines its contents as per ISA 260.

Question

The partner in your firm has requested you to train the newly recruited junior audit staff on ISA 260: Communication with those charged with governance.

Required:
Draft a training material for the new junior recruits on the provisions set out in ISA 260 in relation to:

i) The purpose of issuing a Management Letter to a client after an audit.
(5 marks)

ii) The contents of a Management Letter.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Reporting, Communication, Governance, ISA 260, Management letter
Level: Level 2

Topic: Completion Procedures and Reporting
Series: NOV 2021

AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations

Explains the auditor's objectives and significant matters for communication with those charged with governance under ISA 260.

Question

b) Due to increased workload, your firm has just recruited a new junior audit staff member, George Ansong, who has joined the practice directly from University and so has no previous work experience. You have been assigned as his training manager.

George is now looking at summarised material given to him by the audit partner on ISA 260. ISA 260: Communication with those charged with governance deals with the auditor’s responsibility to communicate with those charged with governance in an audit of financial statements. It focuses primarily on communications from the auditor to those charged with governance.

George would like you to explain in more detail what he has read.

Required:
In relation to George’s request, detail the provisions set out in ISA 260 in relation to the following:
i) The main objectives of the auditor in communicating with those charged with governance.
(4 marks)
ii) SIX (6) significant matters the auditor should communicate with those charged with governance about the responsibilities of the auditor in relation to the audit of the financial statements.
(6 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Responsibilities, Auditor-Governance Interaction, Communication, Governance, ISA 260
Level: Level 2

Topic: Professional and Ethical Considerations
Series: MAY 2019

AA – Nov 2017 – L2 – Q5b – Completion Procedures and Reporting

Explain three matters that should be communicated to those charged with governance as per ISA 260.

Question

Required:
Explain three matters that could be communicated to those charged with governance.
(3 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Matters, Audit report, Communication, Going Concern, Governance, ISA 260, Significant Accounting Policies
Level: Level 2

Topic: Completion Procedures and Reporting
Series: NOV 2017

AA – Nov 2020 – L2 – Q5c – Completion Procedures and Reporting

Discuss key matters to include in the communication with those charged with governance.

Question

Required:
Discuss the main matters that should be included in the communication with those charged with governance.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit findings, Auditor’s Independence, Communication, Governance, ISA 260, Reporting
Level: Level 2

Topic: Completion Procedures and Reporting
Series: NOV 2020

AA – Aug 2022 – L2 – Q5a – Completion Procedures and Reporting

Identifies the responsibilities of those charged with governance and matters communicated by auditors.

Question

Required:
i) Identify TWO (2) specific responsibilities of those charged with governance.
(2 marks)

ii) Explain FOUR (4) examples of matters that might be communicated to them by the auditor.
(4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Communication with auditors, Governance responsibilities, ISA 260
Level: Level 2

Topic: Completion Procedures and Reporting
Series: AUG 2022

AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting

Describes the purpose of a management letter and outlines its contents as per ISA 260.

Question

The partner in your firm has requested you to train the newly recruited junior audit staff on ISA 260: Communication with those charged with governance.

Required:
Draft a training material for the new junior recruits on the provisions set out in ISA 260 in relation to:

i) The purpose of issuing a Management Letter to a client after an audit.
(5 marks)

ii) The contents of a Management Letter.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Reporting, Communication, Governance, ISA 260, Management letter
Level: Level 2

Topic: Completion Procedures and Reporting
Series: NOV 2021

AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations

Explains the auditor's objectives and significant matters for communication with those charged with governance under ISA 260.

Question

George would like you to explain in more detail what he has read.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Responsibilities, Auditor-Governance Interaction, Communication, Governance, ISA 260
Level: Level 2

Topic: Professional and Ethical Considerations
Series: MAY 2019

Question Tag: ISA 260

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AA – Nov 2017 – L2 – Q5b – Completion Procedures and Reporting

Explain three matters that should be communicated to those charged with governance as per ISA 260.

AA – Nov 2020 – L2 – Q5c – Completion Procedures and Reporting

Discuss key matters to include in the communication with those charged with governance.

AA – Aug 2022 – L2 – Q5a – Completion Procedures and Reporting

Identifies the responsibilities of those charged with governance and matters communicated by auditors.

AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting

Describes the purpose of a management letter and outlines its contents as per ISA 260.

AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations

Explains the auditor's objectives and significant matters for communication with those charged with governance under ISA 260.

AA – Nov 2017 – L2 – Q5b – Completion Procedures and Reporting

Explain three matters that should be communicated to those charged with governance as per ISA 260.

AA – Nov 2020 – L2 – Q5c – Completion Procedures and Reporting

Discuss key matters to include in the communication with those charged with governance.

AA – Aug 2022 – L2 – Q5a – Completion Procedures and Reporting

Identifies the responsibilities of those charged with governance and matters communicated by auditors.

AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting

Describes the purpose of a management letter and outlines its contents as per ISA 260.

AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations

Explains the auditor's objectives and significant matters for communication with those charged with governance under ISA 260.

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Question Tag: ISA 260

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AA – Nov 2017 – L2 – Q5b – Completion Procedures and Reporting

Explain three matters that should be communicated to those charged with governance as per ISA 260.

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AA – Nov 2020 – L2 – Q5c – Completion Procedures and Reporting

Discuss key matters to include in the communication with those charged with governance.

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AA – Aug 2022 – L2 – Q5a – Completion Procedures and Reporting

Identifies the responsibilities of those charged with governance and matters communicated by auditors.

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AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting

Describes the purpose of a management letter and outlines its contents as per ISA 260.

You're reporting an error for "AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting"

AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations

Explains the auditor's objectives and significant matters for communication with those charged with governance under ISA 260.

You're reporting an error for "AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations"

AA – Nov 2017 – L2 – Q5b – Completion Procedures and Reporting

Explain three matters that should be communicated to those charged with governance as per ISA 260.

You're reporting an error for "AA – Nov 2017 – L2 – Q5b – Completion Procedures and Reporting"

AA – Nov 2020 – L2 – Q5c – Completion Procedures and Reporting

Discuss key matters to include in the communication with those charged with governance.

You're reporting an error for "AA – Nov 2020 – L2 – Q5c – Completion Procedures and Reporting"

AA – Aug 2022 – L2 – Q5a – Completion Procedures and Reporting

Identifies the responsibilities of those charged with governance and matters communicated by auditors.

You're reporting an error for "AA – Aug 2022 – L2 – Q5a – Completion Procedures and Reporting"

AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting

Describes the purpose of a management letter and outlines its contents as per ISA 260.

You're reporting an error for "AA – Nov 2021 – L2 – Q5b – Completion Procedures and Reporting"

AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations

Explains the auditor's objectives and significant matters for communication with those charged with governance under ISA 260.

You're reporting an error for "AA – May 2019 – L2 – Q5b – Professional and Ethical Considerations"

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