Assignment 1: Audit Evidence and Risk Assessment

As an auditor, you will be gathering evidence to support your client’s claim on assets, liabilities, revenues, and expenses. In this assignment, you will need to describe not only what quality evidence is, but also explain the many risks an auditor faces during the course of an audit.

The questions listed below are found in Chapters 5 and 6 of Principles of Auditing. Answer the questions and submit your work to the instructor as outlined below.

Checklist:

Respond to the following questions.

Chapter 5:

• Question Requiring Analysis: 5-36
• Problem: 5-47

Chapter 6:

• Question Requiring Analysis: 6-28
• Question Requiring Analysis: 6-33

Please review the complete Unit 3 assignment details and rubric.

Submit your completed assignment to the Unit 3 assignment Dropbox. Assignments are due Tuesday 11:59 p.m. ET of their assigned unit.

Reference

Whittington, O. R., & Pany, K. (2019). Principles of auditing & other assurance services (21st ed.). New York, NY: McGraw-Hill.

Assignment 2: Evidence

Provide an original and substantive response to the questions posed in your assignment in a minimum of 200 words.

You read about how evidence is the heart of the audit. Auditors base their opinions on the quality of evidence to confirm what the client states to be true. If evidence was weak or incomplete, it is hard for auditors to gain assurance on the client’s claims. Suppose a lot of your client’s paper documentation from early in the fiscal year was destroyed in a fire.

• What measures would you take to gather evidence from that time?
• Would you just give them a “pass” from that time period and audit the rest of the year instead? Why or why not?
• Would you ask the client to reproduce the data in some way?

Review complete Unit 3 assignment 2 details and rubrics.
Submit your completed assignment to the Unit 3 assignment 2 Dropbox. Assignments are due Tuesday 11:59 p.m. ET of their assigned unit.