Auditing – Assignment and Discussion questions Page 1 of 1

Chapter 5

Assignment questions (Ch5)

P5-6 [LO3]
Refer to Exhibit 5.3. List the phases of the audit opinion formulation process. What are the primary
activities within each of the five phases?

P5-9 [LO5]
Assume that an organization asserts that it has $35 million in net accounts receivable. Describe
specifically what management is asserting with respect to net accounts receivable.

Discussion questions

P5-37 [LO8]
Refer to Exhibit 5.11. Explain how the factors in the first column affect the auditor’s decision about
substantive testing.