TIP PIE ACDO General= Training, Independence, Professional Care; Fieldwork= Planning and supervision, Internal control, Entity and environment; Reporting= Accounting gaap, Consistency, Disclosure, express Opinion
Contents of Scope Paragraph of Unqualified
APMEAM x 2 Audit conducted in Accordance, Planned and Performed Material Mistatement, Examined Evidence Accounting Principles Assessed, significant estimates Made by Management
What are the 6 interrelated elements of quality control?
HELPME Human resources; Engagement/client acceptance and continuance; Leadership responsibilities; Performance of the engagement; Monitoring; Ethical requirements
What are the eleven attestation standards?
TIPPYPASSER 5 General= Training and proficiency; Independence; Performance/due professional care; Professional, adequate knowledge of subject matter; Your belief that subject matter capable of evaluation against criteria that are suitable and available to users;
Post balance sheet transactions Representation letter Inquiry with management on significant matters Minutes Examine latest interim financials
Understandinf clients business
Staff qualifications Transaction types and frequency Accounting basis used to prepare financials Form of the accounting records Financial statements form and content
Aicpa Limited not Audited not Reviewed Disclaimer of opinion
Review requirements U LIAR CPA
Understanding with client established Learn/obtain sufficient knowledge of entity business Inquiries addressed appropriately Analytical procedures Review Client rep letter Professional judgment Accountant communicate result