Question: Consult Paragraph 9 of PCAOB Auditing Standard No. 5. Based on your understanding of inherent risk assessment, identify three specific factors about IOS and/or FOF

Consult Paragraph 9 of PCAOB Auditing Standard No. 5. Based on your understanding of inherent risk assessment, identify three specific factors about IOS and/or FOF that would be likely to impact your audit procedures if you were conducting an audit of IOS and/or FOF.

Step by Step Solution

★★★★★

3.34 Rating (172 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Paragraph 9 of PCAOB Auditing Standard No 5 relates to the planning of the audit of internal control over financial reporting Specifically the paragra... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

633-B-A-A-B-R (1651).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

On January 1, 2023, Chamberlain Corporation pays $388,000 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $15,000 results from the acquisition. On December 31, 2024,...

Consult Paragraph 2 of PCAOB Auditing Standard No. 5. Do you believe that Sunbeam had established an effective system of internal control over financial reporting related to revenue recorded in its...

Consult Paragraph A5 (in Appendix A) of PCAOB Auditing Standard No. 5 and Paragraph 68 of PCAOB Auditing Standard No. 12. Do you believe that WorldCom had established an effective system of internal...

Consult Paragraph 25 of PCAOB Auditing Standard No. 5. Define what is meant by control environment. Next explain why the control environment is so important to effective internal control over...

I need to rewrite the attached in my own words please. Not needed to be the same amount of wording 1. Consult Paragraph 9 of PCAOB Auditing Standard No. 5. Based on your understanding of inherent...

I need the attached in my own words please. Word count should be less than the attached as long as satisfy the answer enough. I. Assignment Questions & Suggested Answers 1. Consult Paragraphs .07-.08...

The Investors Overseas Services, Limited (IOS) was a Canadian company headquartered in Switzerland that offered diversified financial services, which included the management of mutual funds. IOS was...

Consult Paragraphs 5-8 of PCAOB Auditing Standard No. 8 and Paragraphs 7-10 of PCAOB Auditing Standard No. 12. Based on your understanding of inherent risk assessment, identify three specific factors...

Consult Paragraphs 5-8 of PCAOB Auditing Standard No.8 and Paragraphs 7-10 of PCAOB Auditing Standard No. 12. Based on your understanding of inherent risk assessment, identify three specific factors...

Consult Paragraphs 7-10 of PCAOB Auditing Standard No. 12.Based on your understanding of inherent risk assessment; identify three specific factors about IOS and/or FOF that would be likely to impact...

Need to change the attached to my own words. Let me know if any questions 1. What is the difference between an information technology general computing control and an automated application control?...

Consider the transmission case of Problem 1.23, but now allow for radiation exchange with the ground chassis, which may be approximated as large surroundings at Tsur = 30C. If the emissivity of the...

A pair of sine curves with the same period is given. y = 15 sin(2t -); v2 = 15 sin(2t - ) Y1 (a) Find the phase of each curve. Y phase Y2 phase x (b) Find the phase difference between the curves.

Determine whether the series is convergent or divergent. If it is cony 1 4 3 1 6 1 6 4 3 2 5 6 1 1 0 2 4 3 4 0 9 6 cdots Need Hels? Need Help?

Fibonacci numbers are named after Leonardo Fibonacci (1170?1230), an outstanding European mathematician of the medieval period. Fibonacci numbers are defined as follows: Write a recursive VBA...

What kinds of validity threats do you have if data were obtained through data-mining activities?

What part of the output response is responsible for determining the stability of a linear system?

Assuming that the characters in alphabet can be enumerated and can index arrays, give an O(m + ||) time method for constructing the last function from an m-length pattern string P.

Refer to Exercise 37. a. Find the probability of getting a difference in sample means xMxB thats less than 0 mg/dl. b. Should we be surprised if the sample mean cholesterol level for the 14-year-old...

Exercise 11.4: Make or buy? Nuin Co manufactures a number of different components for the oil industry. The management is considering whether to buy in or continue making one oft he components...

Several of the financial statement assertions are interrelated. Required a. For each of the following, indicate what transaction assertion is violated and describe the affect on related account...

You are planning the audit of the Pagemate Company's inventory. Pagemate manufactures a variety of office equipment. Required Describe how each of the following procedures could be used in the audit...

The following are examples of documents typically obtained by auditors. Required For each example: a. Classify the document as internal or external evidence. b. Classify the document as to its...

Goodwin Technologies, a relatively young company, has been wildly successful but has yet to pay a dividend. An analyst forecasts that Goodwin is likely to pay its first dividend three years from now....

Assume that a 3 -year Treasury security yields 4.50%. Also assume that the real risk-free rate (r) is 0.75%, and inflation is expected to be 2.25% annually for the next 3 years. In addition to...

Question 1 0 ( 1 point ) You have been asked to forecast Orwell's additional funds needed ( AFN ) for next year. Assuming the firm is operating at only 5 0 % of capacity and using the data in the...