ACCT 401 Saudi Electronic University Audit Committee Financial Statements Paper

1.What is the role of an Audit committee? (2 Points)

(Write one or two paragraphs, max 200 words in your own words and with supporting references)

2. Imagine you are the auditor of an organization, and you find that the trial balance of the financial year does not tally (Dr and Cr are not equal) Explain the assertions you would apply. (2 Points)

3. When an Auditor finds misstatements in entities financial statements which may be the result of fraudulent act, what should be the role of an auditor under that situation? (1 Points)