Why is the auditor concerned about whether a company has controls over the development or changes it
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (16 reviews)
Because the ability to change programs is an entitylevel contro...View the full answer
Answered By
Amit Choudhary
I'm new in this profession regarding online teaching but previously i used to teach students near my college. I am teaching on online platform since last year and got good support from the students. I'm teaching on platforms like chegg and vedantu and also at my home in free time.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Auditing and Assurance Services Understanding the Integrated Audit
ISBN: 978-0471726340
1st edition
Authors: Karen L. Hooks
Question Posted:
Students also viewed these Auditing questions
-
Why is the auditor concerned about proper matching of revenues and costs of sales for houses that are sold shortly before the fiscal year end?
-
Why is the auditor concerned about the impact of possible impairment of value on the fixed assets of audit clients? Summarize the accounting guidance regarding impairment. What are the related...
-
The production volume variance indicates whether a company has spent more or less than called for in the budget. True or false?
-
(a) Using your knowledge of economics and how markets work illustrate and explain why the price of electricity has increased so much over the past 18 months throughout the EU. You should consider the...
-
Explain what is involved in obtaining the empirical formula from the percentage composition.
-
What are the differences between BoxJenkins and VAR approaches to economic forecasting?
-
Find the natural frequencies of vibration of the radial drilling machine considered in Problem 12.20 (Fig. 12.26). Data From Problem 12.20:- A simplified model of a radial drilling machine is shown...
-
Burte Corporation prepared the following variance report. Instructions Fill in the appropriate amounts or letters for the question marks in thereport. Burte Corporation Variance Report-Purchasing...
-
Bill is a 32-year-old male who has worked as an EMT and fireman for most of the last 10 years. He tells you that he can't sleep because he has intrusive dreams. The more he talks to you, the more he...
-
1. Jim Adams posts the column totals and individual transactions in "Other" columns to the appropriate general ledger account and updates each general ledger account balance. He places a posting...
-
What controls over the physical IT facility are considered ITGC?
-
What concerns does the auditor have over access controls and their impact on data security? What impact would a problem with access controls have on the auditors conclusions in an ICFR audit of a...
-
A process makes two products, A and B, and operates 5 days per week, 8 hours per day. Demand for the two products for the next week is as follows: Day 1: A: 20; B: 26 Day 2: A: 10; B: 15 Day 3: A:...
-
A company may purchase a portion of its inventory at different prices over time. For example it may purchase one shipment at $10 per unit and another shipment at $15 per unit later in the year. When...
-
This video is a very basic explanation of accrual accounting. That is what we are already doing but you need to understand why and how to recognize it. This section of our class discusses the...
-
Solve 3 20 0 -1 2] 2 2 . 1 (10 points) 2 3 1 3 1 3
-
Sam and Jay started with Cash 10,000 and Machinery 1,00,000. They decided to set up a production line for PPE kits for. the protection from Covid 19 virus. As their demand rose, they decided to buy...
-
The following confidence interval is obtained for a population proportion p: 0.880 < p < 0.910 What is the margin error E.
-
What will the resolution be if the value of R F in Figure 11-5 is changed to 800? Figure 11-5 De C B 1 MSB 2 4 ww 8 LSB Digital inputs: O V or 5 V (a) RF = 1 k Op- amp +Vs -Vs VOUT D 0000 0 oooo...
-
What are the 5 Cs of marketing channel structure?
-
Differentiate between tax compliance and tax planning.
-
Suggest a number of sources from which you might obtain the information needed to prepare a description of internal control in the audit working papers.
-
All experienced auditors would design exactly the same audit program for a particular audit engagement. Do you agree? Explain.
-
You have discussed with the president of Vista Corporation several material weaknesses in internal control that have come to your attention during your audit. At the conclusion of this discussion,...
-
Marea's Cakes sells its cakes for $30 each. Ingredients cost Marea on average $10 per cake and she pays her baker $10 per cake. For the upcoming year, Marea's fixed costs will be $50,000 and she...
-
The statement of cash flow consists of three main activities, as follows: Operating Investing Financing Each section provides the reader with details on where the cash came from and where the cash...
-
How would i calculate the desired ROI per unit based on this information: $65Per Unit Direct Materials $48.00Per Unit Direct Labour $16.00Per Unit Variable Manufacturing Overhead $12.00Per Unit...
Study smarter with the SolutionInn App