Assume that you are planning to test a client's reconciliation. You could test by either inspecting documentation of the reconciliation or by reperforming the reconciliation. What factors would cause you to choose reperformance instead of inspection of documentation?
Answer to relevant QuestionsWhat are some of the key decisions that influence the substantive testing to be performed by the auditor?The auditor provides an opinion on internal control over financial reporting for one of its public companies.a. Is the auditor also required to audit the company's financial statements at the same time? Explain.b. Does an ...Identify the PCAOB AS that relates to audit documentation. Review that AS and describe the characteristics of good audit documentation that are noted in that standard.Assume that you want to test an entity-wide control related to the control environment. Specifically, you want to obtain evidence that the audit committee has periodic discussions about fraud. Recall that tests of controls ...Appropriateness of audit evidence considers what two evidence characteristics? Define these characteristics and identify factors that affect these characteristics.
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