7 2 Legal Compliance and Administration of Contracts 8-05- Form 496, Auditing Procedures Report - mi 2025

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Examples of audit documentation include memoranda, confirmations, correspondence, schedules, audit programs, and letters of representation. Audit documentation may be in the form of paper, electronic files, or other media.
GAAS consists of 10 standards organized into three sections: General Standards, Standards of Field Work, and Standards of Reporting. Compliance with GAAS enhances credibility, ensures regulatory compliance, detects fraud and errors, and improves internal controls.
The number of days for the audit is based on ISO 17021.
Explanation: The principle underlying an audit conducted in ance with generally accepted auditing standards that the question is referring to is option D) An **auditors **opinion enhances the degree of confidence that intended users can place in the financial statements.
The correct answer is b) A client engagement letter that summarizes the timing and details of the auditors planned fieldwork. A client engagement letter is presented to the auditee, usually, the department head before the fieldwork actually starts.
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