Why should auditors think about a compliance assertion that is not listed in the auditing standards about
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (17 reviews)
Auditors should think about a compliance assertion even though it is not explicitly li...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Question Posted:
Students also viewed these Auditing questions
-
Why should auditors think about what could go wrong in a particular assertion?
-
Why is the Auditing Standards Boards set of management assertions important to auditors? Do these assertions differ from those included in PCAOB standards? If so, how are they different?
-
Auditing standards do not require auditors of financial statements to a. Understand the nature of errors and frauds. b. Assess the risk of occurrence of errors and frauds. c. Design audits to provide...
-
Abbey Company completed the annual count of its inventory. During the count, certain items were identified as requiring special attention. Decide how each item would be handled for Abbey Company's...
-
Solve each equation for x. 1. (a) e7-4x = 6 (b) ln (3x - 10) = 2 2. (a) 2x-5 = 3 (b) ln x + ln(x - 1) = 1
-
Jarden Company has credit sales of $ 3.6 million for year 2013. On December 31, 2013, the companys Allowance for Doubtful Accounts has an unadjusted credit balance of $ 14,500. Jarden prepares a...
-
American Down and Out Call. Given \(K=100, T=\frac{1}{30}, S=100, \sigma=0.6, r=\) 0.01 , and \(B=95\). Construct a tree for all nodes below the barrier value \(=0\).
-
Company A owns 80% of Company B. Company B owns 60% of Company C. From a consolidated viewpoint, does A control C? How will $10,000 of Company C income flow to the members of the consolidated firms...
-
- How can reading the garment label help you to become an informed shopper? Discuss why it is important to know the fibre content of a garment and why a consumer may want to know the country of...
-
Presented below is financial information for two different companies. Determine the missing amounts. Chan Lee Company $90,000 Company Sales Sales returns Net sales Cost of goods sold Gross profit...
-
Briefly explain the five principal assertions that can be made about assets and liabilities, and auditors objectives related to each.
-
How are assertions used in audit planning?
-
A thin, rigid, uniform rod has a mass of 2.00 kg and a length of 2.00 m. (a) Find the moment of inertia of the rod relative to an axis that is perpendicular to the rod at one end. (b) Suppose all the...
-
Calculate nominal GDP in 2022 and 2023. An economy produces only apples and oranges. The base year is 2022, and the table gives the quantities produced and the prices. Quantities Apples Oranges...
-
Discovery and Warner Media Merge The merger of Discovery and Warner Media creates one of the largest U.S. media bisinesses. The deal still needs to receive FTC approval. a. What is the difference...
-
In 2018 Brazils real GDP is growing at 1.7 percent a year and its population is growing at 0.7 percent a year. If these growth rates continue, in what year will Brazils real GDP per person be twice...
-
The United States produces corn in abundance whereas Japan faces a shortage of corn. a. If the United States starts to export corn in large quantities to Japan, what do you predict will be the effect...
-
Why might an increase in the gas tax to finance transportation infrastructure be a political equilibrium? New Jerseys gas tax, which is rising from 30.9 to 40.2 cents per gallon, is needed to support...
-
Heating a metal carbonate leads to decomposition. Predict the effect on the equilibrium of each change listed below. Answer by choosing (i) no change, (ii) shifts left, or (iii) shifts right. (a) Add...
-
Anne is employed by Bradley Contracting Company. Bradley has a $1.3 million contract to build a small group of outbuildings in a national park. Anne alleges that Bradley Contracting has discriminated...
-
True or False: Based on maximizing the present worth of depreciation allowances, MACRS is preferred to SLN for recovery periods greater than 5 years.
-
What general considerations are important when an auditor decides on an acceptable risk of assessing control risk too low?
-
What is the probability of finding one or more deviations in a sample of 100 if the population deviation rate is actually 2%?
-
What is the probability of finding one or more deviations in a sample of 100 units if the deviation rate in the population is only 0.5%?
-
In this module, we discussed reporting and analyzing performance data. Take a look at your local school district, city, or county government website. Discuss the following: 1. Post a link and give a...
-
With reference to a project of your own, draw a project team charter and include the relevant details for the project you had selected.
-
In this Week 7 discussion, you will post at least two paragraphs to discuss global sourcing and procurement. In your discussion post, you will address the challenges in implementing a global sourcing...
Study smarter with the SolutionInn App