What do auditors do if they find strong controls in an accounting system?
Question:
What do auditors do if they find strong controls in an accounting system?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
Auditor testing of control effectiveness is required most ...View the full answer
Answered By
Jehal Shah
I believe everyone should try to be strong at logic and have good reading habit. Because If you possess these two skills, no matter what difficult situation is, you will definitely find a perfect solution out of it. While logical ability gives you to understand complex problems and concepts quite easily, reading habit gives you an open mind and holistic approach to see much bigger picture.
So guys, I always try to explain any concept keeping these two points in my mind. So that you will never forget any more importantly get bored.
Last but not the least, I am finance enthusiast. Big fan of Warren buffet for long term focus investing approach. On the same side derivatives is the segment I possess expertise.
If you have any finacne related doubt, do reach me out.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Question Posted:
Students also viewed these Business questions
-
What is the internal auditors responsibility for reporting a corporate wrongdoing? For example, what should an internal auditor do if they find management has inappropriately recognized revenue by...
-
The SEC charged certain executives of Happiness Express with "insider trading." Do auditors have a responsibility to consider or investigate the possibility that client executives have engaged in...
-
Gabby Manufacturing Company (Gabby) is a privately owned leading manufacturer and distributor of lockers, locks, and keys for numerous industries. It is best known for its widely used locker system...
-
Solve the inequality. Write the solution in interval notation. |15 = x < 7
-
The 1H NMR spectrum of the product obtained when an unknown alkene reacts with ozone and the ozonolysis product is worked up under oxidizing conditions is shown. Identify the alkene. 10 (ppm)...
-
Summarize and discuss the pros and cons of different cloud computing models.
-
Mary Kay Morrow began working for Hallmark in 1982. At the beginning of 2002, Hallmark adopted the Hallmark Dispute Resolution Program, which required, among other things, that claims against the...
-
The beginning inventory at Keats Office Supplies and data on purchases and sales for a three-month period are as follows: Instructions 1. Based the inventory, purchases, and cost of merchandise sold...
-
L = {w| L2 = {w| Two languages L1 and L2 are defined by symbols = {0, 1}, written as w contains 00 as a sub-string and the length of w is even number} w begins with 0 and ends with 1} (i) Write two...
-
Give three examples from the MIPS architecture of each of the architecture design principles: (1) simplicity favors regularity (2) make the common case fast (3) smaller is faster (4) good design...
-
What is the main purpose of documenting controls in an accounting system?
-
Explain managements responsibilities regarding its organizations internal control.
-
A. Identify three disagreements in current political or social controversy that are of the three types described in this section: one that is genuine, one that is merely verbal, and one that is...
-
Think of and then list all of the items that you think should be included in a new employee onboarding. Briefly justify why each item should be included.
-
Would you rather be given the opportunity to receive incentives based on individual performance or group performance? Does it depend on the situation? Why?
-
Which option for compensation would you want if you were assigned by your company to work in another country? Why?
-
Do you agree with the statement that in any economy, individuals are the net supplier of funds? What do you think will happen to financial markets if all individuals decide to consume more and not...
-
If you were the HR manager, would you ever consider sending someone to work in another country without providing them with cultural training? If so, in what circumstances?
-
State pertinent properties of boxplots for symmetric, left skewed, and right-skewed distributions.
-
You are planning to purchase your first home five years from today. The required down payment will be $50,000. You currently have $20,000. but you plan to contribute $500 each quarter to a special...
-
Discuss some reasons why a firm that produces installations might use direct distribution in its domestic market but use intermediaries to reach overseas customers.
-
Explain discrepancies of quantity and assortment using the clothing business as an example. How does the application of these concepts change when selling steel to the automobile industry? What...
-
Explain the four regrouping activities with an example from the building supply i n dustry (nails, paint, flooring, plumbing fixtures, etc.). Do you think that many specialists d e velop in this...
-
Wells Technical Institute (WTI) provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid...
-
The function P(x)=0.35x-73 models the relationship between th e number of pretzels x that a certain vendor sells and the profit the vendor makes. Find P(1,000), the profit the vendor makes from...
-
Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designed paragliders. Management...
Study smarter with the SolutionInn App