Give five examples of off-balance-sheet information. Why should auditors be concerned with such items?
Answer to relevant QuestionsHow can auditors verify the names of the issuers, the number of shares held, certificate numbers, maturity value, and interest and dividend rates in an audit of investment securities?What are some of the typical assertions found in owners’ equity descriptions and account balances?You are auditing the financial statements of Bass Corporation for the year ended December 31, and you are about to begin an audit of the noncurrent investment securities. Bass’s records indicate that the company owns ...You are a PA examining the financial statements of Pate Corporation for the year ended December 31. The financial statements and records of Pate Corporation have not been audited by a PA in prior years.The shareholders’ ...Audit of Finance Transactions: Internet Business. City Search Inc. (CSI) is a technology company providing local search engine services in the Greater Toronto Area (GTA). CSI combines online search capability with a print ...
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