Do the auditors question the service lives adopted by the client for plant assets, or do they accept the service lives without investigation? Explain
Answer to relevant QuestionsOutline a method by which the auditors may test the propriety of cash discounts taken on accounts payable.What internal control activity would you recommend to call attention to a failure to pay invoices within the discount period?What do you consider to be the most important control a corporation can adopt with respect to capital stock transactions?What is the function of notes to financial statements?The auditors have completed an examination of internal control and are preparing to issue a report. Does the opinion paragraph on the client’s internal control conclude on internal control or management’s assessment of ...
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