Statutory Audit – NBC Institute

AAA – Nov 2012 – L3 – SB – Q4 – Forensic Auditing

This question explores forensic audit, its application in fraud investigation, and compares auditor responsibilities in statutory versus forensic audits.

Question

In accordance with ISA 240, the primary responsibility for the prevention and detection of fraud rests with Management. But the issue of Accountants seeking specialization as forensic auditors has continued to dominate discussion on professional practice.

Required:
a. Explain forensic audit and how it applies to fraud investigation. (5 Marks)

b. Compare the responsibilities of the auditor in respect of fraud when conducting:
i. Statutory Audit (5 Marks)
ii. Forensic Audit (5 Marks)
(Total 15 Marks)

Answer

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Tags: Auditor Responsibilities, Forensic Audit, Fraud Detection, Professional Practice, Statutory Audit
Level: Level 3

Topic: Forensic Auditing
Series: NOV 2012

AA – Nov 2015 – L2 – Q4 – Audit Reports

Discussing the scope of statutory audits, limitations of an audit, and overall audit strategy.

Question

Briefly discuss the following:
a. The scope of the statutory audit as described in the independent auditors’ report. (5 Marks)
b. The main limitations of an audit. (5 Marks)
c. The overall audit strategy. (5 Marks)
d. Understanding the entity and its environment. (5 Marks)

Answer

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Tags: Audit Planning, Audit strategy, Limitations, Statutory Audit
Level: Level 2

Topic: Audit Reports, Planning an Audit
Series: NOV 2015

AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,

This question discusses the advantages, disadvantages, and consequences of enforcing auditing standards by statute.

Question

(b) Discuss the advantages and disadvantages of auditing standards to auditors and the consequences of them being enforceable by statute. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Framework, Auditing Standards, Professional Judgment, Regulatory Framework, Statutory Audit
Level: Level 2

Topic: Audit and Assurance Evidence
Series: MAY 2016

AAA – Nov 2012 – L3 – SB – Q4 – Forensic Auditing

This question explores forensic audit, its application in fraud investigation, and compares auditor responsibilities in statutory versus forensic audits.

Question

Required:
a. Explain forensic audit and how it applies to fraud investigation. (5 Marks)

b. Compare the responsibilities of the auditor in respect of fraud when conducting:
i. Statutory Audit (5 Marks)
ii. Forensic Audit (5 Marks)
(Total 15 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Auditor Responsibilities, Forensic Audit, Fraud Detection, Professional Practice, Statutory Audit
Level: Level 3

Topic: Forensic Auditing
Series: NOV 2012

AA – Nov 2015 – L2 – Q4 – Audit Reports

Discussing the scope of statutory audits, limitations of an audit, and overall audit strategy.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Planning, Audit strategy, Limitations, Statutory Audit
Level: Level 2

Topic: Audit Reports, Planning an Audit
Series: NOV 2015

AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,

This question discusses the advantages, disadvantages, and consequences of enforcing auditing standards by statute.

Question

(b) Discuss the advantages and disadvantages of auditing standards to auditors and the consequences of them being enforceable by statute. (5 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Framework, Auditing Standards, Professional Judgment, Regulatory Framework, Statutory Audit
Level: Level 2

Topic: Audit and Assurance Evidence
Series: MAY 2016

Question Tag: Statutory Audit

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AAA – Nov 2012 – L3 – SB – Q4 – Forensic Auditing

This question explores forensic audit, its application in fraud investigation, and compares auditor responsibilities in statutory versus forensic audits.

AA – Nov 2015 – L2 – Q4 – Audit Reports

Discussing the scope of statutory audits, limitations of an audit, and overall audit strategy.

AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,

This question discusses the advantages, disadvantages, and consequences of enforcing auditing standards by statute.

AAA – Nov 2012 – L3 – SB – Q4 – Forensic Auditing

This question explores forensic audit, its application in fraud investigation, and compares auditor responsibilities in statutory versus forensic audits.

AA – Nov 2015 – L2 – Q4 – Audit Reports

Discussing the scope of statutory audits, limitations of an audit, and overall audit strategy.

AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,

This question discusses the advantages, disadvantages, and consequences of enforcing auditing standards by statute.

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Question Tag: Statutory Audit

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AAA – Nov 2012 – L3 – SB – Q4 – Forensic Auditing

This question explores forensic audit, its application in fraud investigation, and compares auditor responsibilities in statutory versus forensic audits.

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AA – Nov 2015 – L2 – Q4 – Audit Reports

Discussing the scope of statutory audits, limitations of an audit, and overall audit strategy.

You're reporting an error for "AA – Nov 2015 – L2 – Q4 – Audit Reports"

AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,

This question discusses the advantages, disadvantages, and consequences of enforcing auditing standards by statute.

You're reporting an error for "AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,"

AAA – Nov 2012 – L3 – SB – Q4 – Forensic Auditing

This question explores forensic audit, its application in fraud investigation, and compares auditor responsibilities in statutory versus forensic audits.

You're reporting an error for "AAA – Nov 2012 – L3 – SB – Q4 – Forensic Auditing"

AA – Nov 2015 – L2 – Q4 – Audit Reports

Discussing the scope of statutory audits, limitations of an audit, and overall audit strategy.

You're reporting an error for "AA – Nov 2015 – L2 – Q4 – Audit Reports"

AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,

This question discusses the advantages, disadvantages, and consequences of enforcing auditing standards by statute.

You're reporting an error for "AA – May 2016 – L2 – Q1b – Audit and Assurance Evidence,"

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