Chapter 4 Audit

Front 1

Engagement Letters include:

Back 1

1. The objectives of the engagement
2. Management's responsibilities
3. The Auditor's responsibilities
4. Any limitations of the engagement

Front 2

Early information-gathering activities include:

Back 2

1. Reviewing the corporate charter and bylaws or partnership agreement
2. Reviewing contracts, agreements, and legal proceedings
3. Reading the minutes of the meetings of directors and committees of the board of directors.

Front 3

Prior to using internal auditors work external auditors should look at:

Back 3

1. Objectivity
2. Competence

Front 4

Audit program

Back 4

a list of the audit procedures the auditors need to perform to gather sufficient appropriate evidence on which to base their opinion on the financial statements