This Question Will Represent a Statement, Question, Excerpt, or Comment

question 227

Multiple Choice

This question will represent a statement, question, excerpt, or comment taken from various parts of an auditor's documentation file. Letter choices A-P represent a list of the likely sources of the statement, question, excerpt, or comment. Select, as the best answer for each item, the most likely source. Select only one source for each item. In connection with an audit of our financial statements, management has prepared, and furnished to our auditors, a description and evaluation of certain contingencies.

• A) Practitioner's report on management's assertion about an entity's compliance with specified requirements.
• B) Auditor's communications on significant deficiencies in internal control.
• C) Audit inquiry letter to legal counsel.
• D) Lawyer's response to audit inquiry letter.
• E) Communication from those charged with governance to the auditor.
• F) Auditor's communication to those charged with governance (other than with respect to significant deficiencies in internal control
• G) Report on the application of accounting principles.
• H) Auditor's engagement letter.
• I) Letter for underwriters.
• J) Accounts receivable confirmation request.
• K) Request for bank cutoff statement.
• L) Explanatory paragraph of an auditor's report on financial statements.
• M) Partner's engagement review notes.
• N) Management representation letter.
• O) Successor auditor's communication with predecessor auditor.
• P) Predecessor auditor's communication with successor auditor.

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Definitions:

Nominal Group Technique

A structured decision-making process where individuals rank ideas or solutions, after which group discussions and prioritizations lead to a final decision.

Storyboarding Teams

Groups dedicated to creating storyboards, which are visual representations of ideas or projects, often used in film, animation, and business planning.

Creative Writing

The art of crafting original compositions in various genres, emphasizing narrative craft, character development, and expression.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group to solve problems or generate ideas.