Refer to the Appendix to Chapter and identify the PCAOB AS that addresses the topic of audit
Question:
Refer to the Appendix to Chapter and identify the PCAOB AS that addresses the topic of audit evidence. Obtain a copy of that AS and answer the following questions.
a. What are the three alternative means of selecting items for testing?
b. For each alternative, describe situations in which the alternative would be appropriate.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
a and b The appropriate standard is AS 15 The relevant information can be found in paragraphs 22 28 of that standard These paragraphs are excerpted be...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
Auditing a risk based approach to conducting a quality audit
ISBN: 978-1133939153
9th edition
Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg
Question Posted:
Students also viewed these Auditing questions
-
Describe some situations in which project management would probably not be effective.
-
What are some situations in which a census would be better than a sample? Why are samples usually taken rather than censuses?
-
Refer to the Appendix to Chapter to identify the ISA related to disclosures of related party transactions. Locate that ISA using appropriate resources. Refer to paragraph A47 of the standard and...
-
A machine was sold in December 20x3 for $13,000. It was purchased in January 20x1 for $19,000, and depreciation of $16,000 was recorded from the date of purchase through the date of disposal....
-
A 2-kW electric resistance heater submerged in 5-kg water is turned on and kept on for 10 min. During the process, 300 kJ of heat is lost from the water. The temperature rise of water is (a) 0.4C (b)...
-
Explain the different modes of heat transfer.
-
What benefits should entities expect from preparing sustainability reports?
-
What are the positive and negative aspects of HPs new sales force structure? Imagine this scenario: You need a new digital camera. Youre not sure which one to buy or even what features you need. So...
-
Question four (20mks) Explain how the following are fundamental in appraising income property A. potential gross income (16mks) B.Net operating income (4mks) Question five (20mks) Explain the theory...
-
Significant Figures 1. How many significant figures are contained in each of the following numbers? 7809700.897 tons 94700. m 28.2890 cm 347600 L 0.07890 pints 120 atoms Rounding 2. Round each of the...
-
Using appropriate resources, locate the financial statements of a company with which you are familiar. Identify specific account balances for which analytical procedures would be appropriate for...
-
Obtain a copy of Accounting and Auditing Enforcement Release (AAER) No. 3146, issued by the SEC on June 24, 2010. a. Identify the audit evidence deficiencies described in the release. b. In what ways...
-
What were the major changes contained in the Patient Protection and Affordable Care Act of 2010?
-
B12 Corporation is currently in the sixth year of its existence (2022). In 2017-2021, it reported the following income and (losses) (before net operating loss carryovers or carrybacks). 2017 2018...
-
Today is also the day on which your manager's boss is collecting information about your manager's leadership style so that they can give him a 360-degree appraisal. They assure you that your comments...
-
Company A has issued a bond with a face value of $1,000 and a coupon rate of 5%. The bond matures in 5 years and has a yield to maturity of 6%. 1. What is a bond and how is it different from stocks?...
-
Do NOT simply copy and paste from the lecture, any readings. Weekly Notes should be in YOUR words. However, vocabulary definitions of pertinent terms are fine to include. What stood out to you? What...
-
Go watch the movie "Pacific Rim (2013)". Apply the Pentad method by Kenneth Burke there. Must be including 5 rhetorical elements: Act Act, which is associated with dramatic action verbs and answers...
-
In Exercises 1318, calculate the derivative in two ways. First use the Product or Quotient Rule; then rewrite the function algebraically and directly calculate the derivative. (x) = x 2 (3 + x 1 )
-
Suppose the S&P 500 futures price is 1000, = 30%, r = 5%, = 5%, T = 1, and n = 3. a. What are the prices of European calls and puts for K = $1000? Why do you find the prices to be equal? b. What...
-
The state of stress at a point is given by a. Determine the strains using Young's modulus of \(100 \mathrm{GPa}\) and Poisson's ratio of 0.25. b. Compute the strain energy density using these...
-
The Focus on Fraud feature "Fraud in the Acquisition and Payment Cycle at WorldCom and Phar-Mor" introduced you to the basic facts underlying the WorldCom fraud. Use appropriate sources to answer the...
-
Refer to the Focus on Fraud feature "Examples of Fraud in Inventory." The AICPA's Practice Alert described in the feature provides examples of many types of inventory frauds that have occurred....
-
This case will enable you to practice conducting planning and substantive analytical procedures for accounts in the acquisition and payment cycle. When analyzing the financial data, you may assume...
-
Please design a marketing message that embeds the concept of nostalgia and another factor that can potentially moderate the effect of nostalgia to increase consumer desire for post-pandemic travel....
-
Describe the stages a 22-year-old university student would go though when purchasing a new computer. Also, describe the process the same individual would go through when purchasing a frozen pizza.
-
Goal: Evaluate a business opportunity. What to do: Your wealthy aunt owns commercial real estate all over town. When one of her tenants, anonalcoholicbeverage company, goes bankrupt, your aunt...
Study smarter with the SolutionInn App