Laws and Regulations (2)

Question 1

Auditor’s responsibiltiy for direct effect?

Answer 1

Obtain sufficient appropriate audit evidence about compliance with those laws and regulations

Question 2

Auditor’s responsibiltiy for do not have direct effect?

Answer 2

Undertake specified audit procedures to help identify noln-compliance with laws and regulations that may have material effect on FS

Question 3

Example of specific audit procedures for not have direct effect? (E)

Answer 3

Enquiries of management

Question 4

Example of specific audit procedures for not have direct effect? (I)

Answer 4

Inspecting correspondence with the relevant licensing or regulatory authorities

Question 5

Who’s responsibility to comply with relevant laws and regulations?

Answer 5

With an entity’s management and those charged with governance