This is essential for ensuring the credibility of the auditor's report in an engagement

Entity's own employees who investigate and appraise the effectiveness and efficiency of operations and internal controls

Independent CPAs who offer their professional services to different clients on a contractual basis

Established criteria in a compliance audit

______ application of the applicable financial reporting framework such as the PFRS results in fair presentation of financial statements.

_______ internal control system reduces the possibility of material misstatements of the financial statements.

What is the general assertion made by the auditee in an operational audit?

Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making

Auditor makes a critical assessment, with a questioning mind, of the validity of audit evidence and is alert to audit evidence that contradicts or brings into questions the reliability of the documents or management representations

Established criteria in an operational audit

Identify 1 of the general characteristics of the different types of audit

There should be no long-term ________ between the auditor and the client management.

Representations made by an entity about economic actions and events