If internal controls are weak, in what situations could an audit still be done, and in what
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
If controls are very weak an audit could still be done if the auditor ca...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Question Posted:
Students also viewed these Auditing questions
-
In what situations could several capital projects properly be financed and accounted for through a single Capital Projects Fund?
-
In what situations could a salaried employee receive overtime pay?
-
Internal controls, an internal audit function, and an audit committee are all elements of a strong corporate governance system. Mow should an external auditor evaluate these elements in making a risk...
-
1. What are the advantages to Southwest of its proactive approach to passenger problems? n n 2. How might Fred Taylor use the four-part plan suggested in this chapter to compose his apology letters...
-
Identify two marketing research problems where conjoint analysis could be applied. Explain how you would apply conjoint analysis in these situations.
-
Tony Vian owns and manages a computer repair service, which had the following trial balance on December 31, 2013 (the end of its fiscal year). Summarized transactions for January 2014 were as...
-
What is the purpose of an insurance policy?
-
1. What is Corvinos criticism of the term unnatural? 2. What does Corvino think about Aquinas evaluation of adultery, rape, and masturbation? 3. What does Corvino think about celibacy of Aquinas and...
-
Bond value and time-Changing required returns Personal Finance Problem Lynn Parsons is considering investing in either of two outstanding bonds. The bonds both have $1,000 par values and 14% coupon...
-
How is infrastructure protection (assuring the security of utility services) related to information security?
-
Why can it be efficient for the auditor to rely on internal controls?
-
What does it mean if an overall audit plan is said to be cost effective? How do auditors develop a cost-effective overall audit plan?
-
The following table represents the scores of students in Mathematics in the 10th grade. The dean of the school has announced a scholarship for students who score more than eighty percent. a....
-
Create a new class file with a main method. Using methods provided by the String class, try to print out the following output:
-
Customers of Dough Boy Ltd. have specified that pizza crusts they order should be 28-32 centimeters in diameter. Sample data recently collected indicate that Dough Boy's crusts average 30 centimeters...
-
(a) The three-hinged arch shown in Figure \(P 12.22\) has a parabolic profile. Draw the influence lines for both the horizontal and vertical reactions at \(A\) and the moment at \(D\). (b) Compute...
-
Suppose that a restaurant's requirements for the "4-ounce" hamburger patties that it purchased from its supplier should be between 3.4 and 4.6 ounces. Why would the restaurant be concerned about...
-
(a) Construct the influence lines for the moment and the vertical reaction \(R_{A}\) at support \(A\) for the beam in Figure P12.51. Evaluate the influence line ordinates at the quarter points of the...
-
According to the actor-observer bias, we have more information about ________. a. Situational influences on behavior b. Influences on our own behavior c. Influences on others behavior d....
-
Imagine you are the HR manager at a company, and a female employee came to you upset because she felt a male coworker was creating a hostile work environment by repeatedly asking her out on dates...
-
Playing pool, you send the cue ball head-on (that is, along the line joining the centers of the two balls) into the stationary 8 ball, and the cue ball stops as a result of the collision. (a)...
-
Explain why substantive audit procedures provide direct evidence relevant to the audit opinion.
-
Explain why analytical procedures are used throughout the audit process.
-
Identify two points in the audit process when analytical procedures are required by GAAS, and explain why they are considered necessary.
-
Factors which might cause a reduction in management's assigned penalty are called: a. Last chances. b. Second chances. c. Mitigating circumstances. d. Discharge circumstances.
-
In a high-profile criminal trial, the defendant alleges that their confession was coerced by law enforcement officers during interrogation. How might the court assess the admissibility of the...
-
A multinational corporation is accused of environmental pollution and human rights violations in a foreign country where it operates. What legal challenges arise in holding the corporation...
Study smarter with the SolutionInn App