Why is an auditor interested in a clients liquidity?
Question:
Why is an auditor interested in a client’s liquidity?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (4 reviews)
An auditor is interested in a clients liquidity for several important reasons Going Concern Assessment One of the fundamental assumptions in financial reporting is the going concern assumption which a...View the full answer
Answered By
User l_973071
I have a Bachelor of Science degree with a focus on biological, social, and mathematical fields. Throughout my academic journey, I have gained valuable knowledge and practical experience in these areas, enabling me to develop a well-rounded understanding of the subjects.
In the field of biology, my education has equipped me with a strong foundation in various sub-disciplines, such as molecular biology, genetics, physiology, and ecology. I have gained hands-on experience in laboratory techniques, data analysis, and scientific research methods. This has allowed me to explore the intricacies of the biological world, from the microscopic level of cells to the broader ecosystem dynamics.
Regarding social sciences, my coursework has encompassed subjects like psychology, sociology, and anthropology. I have delved into the complexities of human behavior, societal structures, and cultural influences. This multidisciplinary approach has broadened my perspective on how individuals and communities function, interact, and shape the world around them.
Mathematics has been an integral part of my academic journey as well. Through my studies, I have developed a solid understanding of various mathematical concepts, including calculus, statistics, and algebra. I have honed my problem-solving skills and analytical thinking, which are essential in tackling complex mathematical and scientific challenges.
In addition to my formal education, I have also gained tutoring experience in these fields. I have worked as a tutor, assisting students with their coursework, assignments, and exam preparation. This experience has allowed me to effectively communicate complex concepts in a clear and concise manner, adapting my teaching style to suit the needs of each student. I find great satisfaction in helping others understand and appreciate the subjects I am passionate about.
Overall, my education and tutoring experience in the biological, social, and mathematical fields have shaped me into a knowledgeable and versatile individual. I am eager to continue expanding my expertise in these areas, while also sharing my knowledge with others to foster a deeper understanding and appreciation of the sciences.
0.00
0 Reviews
10+ Question Solved
Related Book For
Auditing A Practical Approach
ISBN: 9780730382645
4th Edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
Question Posted:
Students also viewed these Business questions
-
Why is an auditor interested in PPE that is not currently being used or that could become idle in the near future? Why would an auditor review directors' board minutes to gather information about...
-
What is internal control? Why is an auditor interested in a clients internal control?
-
The following is a copy of the auditors working paper relating to the roll forward procedures for accounts receivable for the client New Millennium Ecoproducts. Required (a) When are roll forward...
-
Lamonda Corp. uses a job order cost system. On April 1, the accounts had the following balances: The following transactions occurred during April: (a) Purchased materials on account at a cost of...
-
Glen Pool Club, Inc., has a $ 150,000 mortgage liability. The mortgage is payable in monthly installments of $ 1,543, which include interest computed at an annual rate of 12 percent (1 percent...
-
Situations such as lawyers engaging in business transactions with their clients or limiting their liability with their clients call for the lawyer to advise the client about the propriety of seeking...
-
Create a domain dictionary for an ATM system.
-
Post the journal entries prepared in E 3-31 to T-accounts, and determine the final balance for each account. (Assume all beginning account balances are zero.) Data from E3-13 July 2 Received $320,000...
-
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses...
-
Leda Inc. is located at 433 Augusta Road, Caribou, Maine, 04736, phone number 201-555-1212. The Federal EIN is 54-3910394, and a Maine Revenue Services number of 3884019. Owner, Amanda Leda has asked...
-
Explain how setting a lower planning materiality level affects quality and quantity of audit evidence that needs to be gathered.
-
What are some possible explanations of a change in the inventories turnover ratio? How could the auditor investigate which of these explanations is the most likely cause of the change in the ratio?
-
The data points in a sample of size 9 are 34, 51, 40, 38, 47, 50, 52, 44, 37. a. If you can take the deviations of these data from any number you select, and you want to minimize the sum of the...
-
What percent of the total population is found between the mean and the z-score given in Problems 11-22? \(z=3.25\)
-
Draw a stem-and-leaf plot for each data set in Problems 28-31. Data set C Data set A: The annual wages of employees at a small accounting firm are given in thousands of dollars. 35 25 25 16 14 1 2 2...
-
The diameter of a pipe is normally distributed, with a mean of 0.4 inch and a variance of 0.0004 . What is the probability that the diameter of a randomly selected pipe will exceed 0.44 inch?
-
What does it mean to "grade on a curve"?
-
Briefly discuss the following statement: The concept of full disclosure is at variance with window-dressing, and creative accounting.
-
Beatty Companys accounting records show an after-closing balance of $19,400 in its Retained Earnings account on December 31, 2016. During the 2016 accounting cycle, Beatty earned $15,100 of revenue,...
-
If the amplifier indicated by the box input impedance of oo, which of the following statements are true ? has an open loop gain as well as Feedback factor (\beta = 1/ R_1\) The feedback is voltage...
-
The results of substantive testing of sales invoices at City Electronics are shown in table 6.8. The three strata correspond to different departments and the overall tolerable error is set at...
-
The controls at a retail store were assessed by the lead auditor as being effective and the auditor intended to rely on the operative effectiveness of controls around payroll in determining the...
-
BBB auditors have been the auditor on the Wild Ride Theme Park for the past two years. They have completed both the financial audit and the audit for the Department of Sport and Leisure, stating that...
-
You are 20. You save $500 every month, at the end of the month, from the age of 20 till the age of 50. The annual rate of return is 6%. How much will you have saved at age 50? 2.The current rate of a...
-
A bank pays interest of 5.2% per annum compounded continuously. If $395,000.00 is placed in a savings account and the interest is left in the account, how much money is in the account after 9 years?
-
In 4 years Colleen and Bill would like to have $30,000 for a down payment on a house. How much should they deposit each month into an account paying 4% compounded monthly to have $30,000 after 48...
Study smarter with the SolutionInn App