ANSWERS
*PAPER F8 (INT): AUDIT AND ASSURANCE
AUDIT FRAMEWORK AND REGULATION
ASSURANCE ENGAGEMENTS
Key answer tips This question is testing your understanding of the basic purpose of an audit, and also that you understand the differences between an audit and other types of assurance engagement. This could also be tested in question 2, the 10 mark question. (a) The external auditor as a verifier of financial information Users of financial information generally require this information to be as objective as possible. In most businesses financial information is produced by the management of the
↧