Question

Which of the following is not a limitation of audit as per SA 240?​

Answer 1

Answer:

It is because of inherent limitation of an audit the practitioner can't assure the user of f.s.t that the f.s.t are absolutely free from material misstatement. As a result of these limitations auditor is expected to provide reasonable assurance.

Explanation:

I hope it helps you dear ❣️❣️☺️☺️❤️❤️

Answer 2

The correct answer is A i.e., Objectivity of auditor's judgement.

• Objectivity of the auditor's judgement is not a limitation of AAS-4.
• The audit's restrictions by AAS- 4 are as follows:
• Selected Testing or Sampling: The auditor's work is limited to selected testing or sampling due to the higher cost burden, making it impossible to thoroughly inspect the books of accounts.
• The Evidence Is Not Conclusive: The Auditor's Evidence Is Persuasive Rather Than Conclusive.
• Internal controls are ineffective, according to the audit conclusion, which is based on information from management. As a result, the audit report cannot be completely trusted by other parties.
• Based on Estimates: The accounting process is inherently dependent on estimates, and no one, not even auditors, can predict the outcome of uncertainty.

CORRECT QUESTION-

Which of the following is not a limitation of audit as per AAS - 4?

An Objectivity of auditors' judgement

B Selective Listening

C Persuasiveness of Evidence

D Limitation of Internal cost system

#SPJ3

https://brainly.in/question/55759288

https://brainly.in/question/49811437