ASSIGNMENT
6-1 Explain the objective of conducting an audit of financial statements and an audit of internal controls.
6-2 Distinguish management’s responsibility for the financial statements from the auditor’s responsibility for verifying those statements.
6-3 Explain the auditor’s responsibility for discovering material misstatements due to fraud or error.
6-4 Describe the need to maintain professional skepticism when conducting an audit.
6-5 Describe the key elements of an effective professional judgment process.
6-6 Identify the benefits of a cycle approach to segmenting the audit.
6-7 Describe why the auditor obtains assurance by auditing transactions and ending balances, including presentation and disclosure.
6-8 Distinguish among the management assertions about financial information.
6-9 Link transaction-related audit objectives to management assertions for classes of transactions.
6-10 Link balance-related audit objectives to management assertions.
6-11 Explain the relationship between audit objectives and the accumulation of audit evidence
