Define the terms significant deficiency and material weakness. What factors does management consider when assessing identified control
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 92% (13 reviews)
A significant deficiency is a deficiency or a combination of deficiencies in intern...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Question Posted:
Students also viewed these Auditing questions
-
Explain the difference between a significant deficiency and material weakness in internal control. Provide an example of each.
-
What factors does an external auditor consider when assessing the competence of the internal audit function and quality of work performance of a client's internal audit function?
-
What factors should retailers consider when assessing opportunity costs?
-
Starting one month from now, you need to withdraw $210 per month from your bank account to help cover the costs of your university education. You will continue the monthly withdrawals for the next...
-
A vertical piston-cylinder device initially contains 0.2 m3 of air at 20C. The mass of the piston is such that it maintains a constant pressure of 300 kPa inside. Now a valve connected to the...
-
A basketball is thrown horizontally at a heavy door that is free to move. For the two cases in which the ball is \((a)\) well inflated and \((b)\) flat, sketch a system diagram of the ball and the...
-
Calculate the median for each of the following sets of data: a. 3, 4, 6, 7, 10 b. 14, 16, 19, 21, 22, 27, 36 c. 6, 6, 9, 9, 9, 10, 13, 16, 16, 21, 24 d. 4, 2, 6, 3, 8, 3, 8 e. 27, 24, 35, 30, 41, 32,...
-
Alternate cost structures, uncertainty, and sensitivity analysis. Edible Bouquets (EB) makes and sells flower bouquets. EB is considering opening a new store in the local mall. The mall has several...
-
Calculate the current and quick ratios for Toyota (ticker TM) and Honda (ticker HMC) for the fiscal years 2020-2022 (each fiscal year ends on March 31 of the corresponding calendar year). Comment on...
-
Fabian, a single member of the military, was stationed at White Sands, New Mexico. On July 1, 2018, his army company transferred him to Florida as a permanent duty station. Fabian worked full-time...
-
List the principles representing the fundamental concepts of the monitoring component.
-
In February 2012, the Wall Street Journal reported that Diamond Foods Inc. fired its CEO and CFO, and would restate financial results for two years. The restatement was required after the company...
-
In January 2012, the management of Gina Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions...
-
Explain how estimation of a companys net proved reserves differs when operating under a concessionary contract versus a PSC.
-
What is the term describing two tracts of land that share only a corner? a. Adjacent b. Contiguous c. Annexed d. Indexed e. None of these
-
Generally, percentage depletion is allowed for ___________. a. Royalty owners b. Integrated producers c. Independent producers d. All of these e. None of these
-
Describe the similarities and differences between PSCs and risk service contracts.
-
Explain the key difference between the following contracts: nonrisk service contract risk service contract
-
According to a model developed by economists E. Heady and J. Pesek, if fertilizer made from N pounds of nitrogen and P lb of phosphate is used on an acre of farmland, then the yield of corn (in...
-
Consider the advantages and disadvantages of extending property rights so that everyone would have the right to prevent people imposing any costs on them whatsoever (or charging them to do so).
-
Consider the spin states of three electrons \(\uparrow \uparrow \downarrow \downarrow \downarrow \uparrow \downarrow \uparrow \uparrow\). Treating these as basis functions for \(\mathbf{S}_{3}\),...
-
What is the major difference between auditing services and assurance services?
-
What are the four attributes needed to perform assurance services? Briefly describe each attribute and its importance. Are these attributes also required for audits of a non-public company?
-
It is noted that an auditor can provide (1) Positive assurance, (2) Negative assurance, or (3) No assurance. Briefly describe these three levels of service and when they might be used.
-
You have a business worth $1,000,000 and other assets (including your home) worth an additional $750,000. What is the recommended automobile insurance policy that you should carry to be FULLY...
-
Republic Services and Waste Management company Compare the companies' long term Revenue, Gross Profit, Operating Profit) and Net Income and related growth trends. What is the average three year...
-
A young couple own a home in NJ. They would like to have Homeowner Insurance coverage for their home in NJ, in case of frozen plumping and damage form heavy snow or power surges. Which Homeowner's...
Study smarter with the SolutionInn App