Question: Explain the importance of a walkthrough how one is performed
Explain the importance of a walkthrough, how one is performed, and list 5 relevant questions that the auditor might ask during a walkthrough. What types of responses to your questions might the auditor receive that would cause concern about the effectiveness of ICFR?
Answer to relevant QuestionsStan is an auditor for Cartman & Kenny, CPA. He has recently been assigned to a new private client called Southpark Services, a provider of web management services. Cartman and Kenny have clients throughout the United ...[Adapted from Wiley CPA Review] Suppose you are auditor on the ICFR audit of Big Papi, Inc, a publicly traded company. Your senior has assigned you a significant list of steps to perform testing the operating effectiveness ...Milton Baxter is the in-charge auditor for Apex Company, a long-time client of the Baxter CPA Group. The company has expanded into a new industry by acquiring equipment that will be used to manufacture several types of ...How are risks from external and internal factors different? Give examples.What management responsibility is established by Section 404 of SOX? How is the independent auditor involved?
Post your question