Explain why the quality of audit evidence is determined by the choice of the audit procedure and
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (17 reviews)
Evidence is higher quality when it is more relevant andor more reliable Evi...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Auditing questions
-
Identify the primary audit objectives that auditors hope to accomplish by confirming a clients year-end accounts receivable. Explain the difference between positive and negative confirmation requests...
-
Identify audit tests that may be used as alternative audit procedures when a response is not received for a positive confirmation request. Compare and contrast the quality of audit evidence yielded...
-
Multiple Choice Questions The following questions concern persuasiveness of evidence. Choose the best response. a. Which of the following types of documentary evidence should the auditor consider to...
-
Suppose that a product can be sold at split-off for $5,000 or processed further at a cost of $1,000 and then sold for $6,400. Should the product be processed further?
-
Match the terms in the left column with the appropriate definition from the right column. Column A 1. Payroll service bureau 2. Payroll clearing account b. Used to record the activities performed by...
-
i. Convert (673.14)g to binary ii. Convert (C6B.09)16 to binary. iii. Convert (68BE) 16 to Octal. iv. Convert (5314.3)g to Hexadecimal.
-
Water at \(60^{\circ} \mathrm{F}\) flows through a 6-in.-diameter pipe with an average velocity of \(15 \mathrm{ft} / \mathrm{s}\). Approximately what is the height of the largest roughness element...
-
Multiple Choice Questions Identify the best answer for each of the following: Laperla County entered into a capital lease on June 30, 20X8, for equipment to be used by General Fund departments. The...
-
If f(x)=(8x3+9) and g(x) = -(9x + 19), then d dx [(2)-9(2)] -0
-
Hope Still, chief executive of Great Divide Technologies (GDT), a state-certified aircraft repair company, worked with her local bank to get a $210,000 loan under the Paycheck Protection Program in...
-
Part 1 Materiality W&S Partners commenced the planning phase of the Cloud 9 audit with procedures to gain an understanding of the client's structure and its business environment. You have completed...
-
Review the examples of working papers provided in the chapter. What advantages are there for the auditor in writing working papers in spreadsheets and word documents?
-
Sophia did not work today, but she volunteered at the shelter. Write the statement in symbolic form and construct a truth table.
-
Assume at one time that nearly everyone in Medieval Europe believed the earth was flat. What may be said about their belief? Discuss.
-
Castillo Corporation, a manufacturer, reports costs for the year as follows: Direct Materials Used $745,000 Wages to Line Workers 595,000 Office Rent 13,500 Indirect Materials Used 675,000 How much...
-
When the brakes of a car are engaged, it slows down with a constant deceleration that has a magnitude a . When the brakes engaged at a speed of 2 4 m / s , it takes the car 7 . 3 m to come to a...
-
Graph the following equation by plotting two points. y-5=-2(x+7)
-
QI First order control system and response Suppose a plant in closed loop feedback control first order system with the Gr(s) = ((s)/RIs) = (S+2)/(5+5) system is modelled as a transfer function...
-
In Exercises find the area of the region. Interior of r = 5 + 2 sin
-
What are technical skills At what level are they most important and why?
-
If an auditor does not intend to rely on internal controls in the audit, does the auditor need to obtain an understanding of internal control? Explain.
-
If an auditor does not intend to rely on internal controls in the audit, does the auditor need to obtain an understanding of internal control? Explain.
-
Discuss the contention that the control environment is the most important part of a system of internal controls because it provides the foundation.
-
What are the vulnerabilities of embedded operating systems, such as, but not limited to, IoT devices, programmable logic devices, and vehicle control systems.
-
Factor the polynomial completely. 7x-17x-12
-
What are some relevant recommendations about Coca-Cola's Planning, Design, and Implementation of an Enterprise Resource Planning System that other companies can apply to their own initiatives?
Study smarter with the SolutionInn App