Compare the Following Components of Financial Audits with Their Characteristics

question 6

Short Answer

Compare the following components of financial audits with their characteristics.
A)Measurement
B)Record-keeping system
C)Recommendations
D)Qualifications to the audit report
1)Format dictated by legal regulations and professional standards
2)Mostly in financial terms
3)Customary to qualify statements if conditions dictate,but strong managerial pressure not to do so
4)Usually few or none,often restricted to management of accounting system

• A)Measurement
• B)Record-keeping system
• C)Recommendations
• D)Qualifications to the audit report
• 1)Format dictated by legal regulations and professional standards
• 2)Mostly in financial terms
• 3)Customary to qualify statements if conditions dictate,but strong managerial pressure not to do so
• 4)Usually few or none,often restricted to management of accounting system

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