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An auditor should present exceptions identified during testing to the auditee after.
Suggested Answer: D
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23 comments · newest first
NO
Noemi
10 months ago
Surprised to see "preliminary" mentioned, isn't that too early?
LU
Lucille
11 months ago
I think it should be after additional testing, makes sense.
NA
Nana
11 months ago
Not sure about that, seems like a risky approach to me.
AN
Anika
11 months ago
Totally agree, analyzing impact first is crucial!
MA
Makeda
11 months ago
Definitely after the final report issuance!
AN
An
11 months ago
I thought we learned that preliminary observations are usually shared early in the process, but I'm not clear on how that fits with the final report.
JO
Joni
12 months ago
I feel like we talked about the importance of analyzing the impact before presenting exceptions, which might relate to option D.
JU
Julian
1 year ago
I remember a practice question that mentioned presenting findings after additional testing, but I can't recall if that's the best approach.
SA
Samuel
1 year ago
I think we discussed that exceptions should be presented after some analysis, but I'm not sure if that means before or after the final report.
CO
Corinne
1 year ago
I think the best approach is to wait until after the final audit report is issued to present the exceptions. That way, the auditor has thoroughly reviewed everything and can provide a complete picture to the auditee.
RO
Ronnie
1 year ago
The key here is that the auditor needs to analyze the likelihood and impact of the exceptions before presenting them to the auditee. So the answer is D - the auditor should present the exceptions after analyzing their risk implications.
BR
Brinda
1 year ago
Hmm, I'm not sure about this one. Should the auditor present the exceptions after the preliminary observation or after additional testing? I'm a bit confused on the right timing.
RO
Rosalind
1 year ago
I'm pretty sure the answer is B. The auditor should present exceptions to the auditee after the final audit report is issued, not before.
SH
Sharita
1 year ago
I see your point, Beckie. It's important to consider the potential impact of the exceptions on compliance and operational risks.
BE
Beckie
1 year ago
That's a good point, Tawanna. It's crucial to prioritize findings based on materiality and risk implications.
TA
Tawanna
1 year ago
But what about the importance of analyzing the likelihood and impact of the exceptions before presenting them?
GA
Gail
1 year ago
Haha, this is like a game of 'Guess the Auditor's Moves'. I'm going with D, because the auditor should be a risk management ninja, not a stand-up comedian.
OS
Osvaldo
1 year ago
I agree with D. Presenting the exceptions without proper analysis would be like shooting in the dark. The auditor needs to do their homework first.
SH
Sharita
1 year ago
I agree with Beckie. It makes sense to wait until all testing is complete before presenting the exceptions.
CH
Cherilyn
1 year ago
Definitely D. Analyzing the risk implications is crucial before bringing the exceptions to the auditee's attention. Otherwise, they might not take the issues seriously.
BE
Beckie
1 year ago
I think the auditor should present exceptions after final audit report issuance.
CH
Chara
1 year ago
I think the correct answer is D. The auditor should present the exceptions after analyzing the likelihood and impact, so they can prioritize the most significant findings.
RU
Ruth
1 year ago
I agree, the auditor needs to consider the likelihood and impact before presenting the exceptions.