To what extent can the auditor use management's process in evaluating internal control, including evidence gathered, to
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 46% (13 reviews)
The auditors assessment of internal control must be based on the culminat...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Auditing a business risk appraoch
ISBN: 978-0324375589
6th Edition
Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston
Question Posted:
Students also viewed these Auditing questions
-
To what extent can the auditor rely on tests of controls performed by the company's internal audit function?
-
To what extent can the private law of property solve the problem of pollution?
-
What is social responsibility? To what extent can educational institutions foster social responsibility?
-
Scott and Associates, Inc., is an accounting firm that has three new clients. Project leaders will be assigned to the three clients. Based on the different backgrounds and experiences of the leaders,...
-
How can fluid pressure or rubber tooling be used to perform bulging?
-
Air is compressed in a pistoncylinder device from 100 kPa and 17C to 800 kPa in a reversible, adiabatic process. Determine the final temperature and the work done during this process, assuming (a)...
-
Why does the payroll tax have the same impact on wages and employment regardless of whether it is imposed on workers or on firms?
-
In the current year, Whitaker Corporation has taxable income of $700,000 and tax preference items of $100,000. It also has $250,000 of positive AMT adjustment items and $80,000 of negative AMT...
-
Consider a semiannual 3.5% coupon bond with a $1,000 face value that has 4 years to maturity. (a) Calculate the market price of this bond using a yield to maturity (YTM) of 3.6%. Is this bond a...
-
Fore Farms reported a pretax operating loss of $137 million for financial reporting purposes in 2021. Contributing to the loss were (a) a penalty of $5 million assessed by the Environmental...
-
In testing account balances such as accounts receivable, why is it important that some of the tests be performed after year-end? Provide an example of a test that might be performed after year-end.
-
In applying a top-down, risk-based approach to an audit, should the auditor start with the ending account balances or does the auditor start with the significant processes that lead to material...
-
Arlene and Mario Dumont want to set up a fund to finance their daughters university education. They want to be able to withdraw $400 from the fund at the beginning of each month for four years. Their...
-
A \(52-\mathrm{kg}\) ice skater (this value includes her body, her clothing, and several \(1.0-\mathrm{kg}\) snowballs she is carrying) is at rest on the ice. She throws a snowball to the right at...
-
A car goes into a skid and gradually comes to a stop, accelerating at a constant rate. At the midpoint of the skid, how much of its kinetic energy has it lost?
-
Is the kinetic energy of a system zero when measured from the zero-momentum reference frame for the system?
-
Which of these reference frames are inertial: one affixed to (a) a merry-go-round, (b) the space shuttle orbiting Earth, (c) an airplane taking off, (d) a train moving at constant speed along a...
-
A uranium-238 atom can break up into a thorium-234 atom and a particle called an alpha particle, \(\alpha-4\). The numbers indicate the inertias of the atoms and the alpha particle in atomicmass...
-
What is the function of Session object in hibernate?
-
Diamond Walker sells homemade knit scarves for $25 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Diamond $1,500 per year. The craft...
-
In the following extract, the College of Charleston, USA, describes on its website how it estimates the standard cost of attendance in respect of a student. To consider a student for federal...
-
Refer to Section 301 of SARBOX. Do you believe that Section 301 is important to maintaining independence between the auditor and the client? Why or why not?
-
Consider the principles, assumptions, and constraints of Generally Accepted Accounting Principles (GAAP). Define the revenue recognition principle and explain why it is important to users of...
-
Consider the Sithe Energies contract described in the case. Does the accounting for this contract provide an example of how Enron violated the revenue recognition principle? Why or why not? Please be...
-
1. How many degrees Celsius does the temperature decrease when there is a 45.8F decrease in temperature? 2. For each 1.00F change in temperature what is the corresponding change in degrees Celsius?...
-
A proton (mass of 1.67 x 10-27 kg) is moving at 1.25 x 106 m/s directly toward a stationary helium nucleus (mass 6.64 x 10-27 kg). After a head-on elastic collision, what is the velocity of the...
-
The December 31, Year 4, balance sheet for Vernon Corporation is presented here. These are the only accounts on Vernon's balan sheet. Amounts indicated by question marks (?) can be calculated using...
Study smarter with the SolutionInn App