Opposite each general audit procedure, write the management assertions most usefully audited by using each procedure. PCAOB
Question:
Transcribed Image Text:
PCAOB Assertions ASB Assertions Audit Procedures a. Inspection of records or documents (vouching) b. Inspection of records or documents (tracing) c. Inspection of records or documents (scanning) d. Inspection of tangible assets e. Observation f. Confirmation g Inquiry h. Recalculation i. Reperformance j. Analytical procedures
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
We can highlight management assertions most usefully audited by using each procedur...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Auditing and Assurance Services
ISBN: 978-0077862343
6th edition
Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws
Question Posted:
Students also viewed these Cost Accounting questions
-
The eight general audit procedures produce evidence about the principal management assertions in financial statements. However, some procedures are useful for producing evidence about certain...
-
The six general audit procedures produce evidence about the principal management assertions in financial statements. However, some procedures are useful for producing evidence about certain...
-
Management Assertions Your first step in learning to audit is to understand and be able to identify management assertions for events and transactions. You will need to be able to relate these to...
-
Give parametric equations and parameter intervals for the motion of a particle in the xy-plane. Identify the particles path by finding a Cartesian equation for it. Graph the Cartesian equation....
-
The zinc blende crystal structure is one that may be generated from close-packed planes of anions. (a) Will the stacking sequence for this structure be FCC or HCP? Why? (b) Will cations fill...
-
Having hauled it to the top of a tilted driveway, a child is holding a wagon from rolling back down. The driveway is inclined at 20 to the horizontal. If the wagon weighs 150 N, with what force must...
-
In the Young's interference experiment shown in Fig. 5-5-9pp, the normalized power spectral density \(\widehat{\mathcal{G}}(v)\) of the light is measured at point \(Q\) by a spectrometer. The mutual...
-
Mack and Myer, LLP, a law firm, is considering the replacement of its old accounting system with new software that should save $10,000 per year in net cash operating costs. The old system has zero...
-
The neighborhood of Humboldt Park has been through many changes, starting off mainly as a community of people of Northern European decent, and later of Latin American decent, many of whom speak...
-
Fredonia Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $10,000 cash in the business in exchange for common stock. 2. Purchased equipment...
-
Overall, studies have shown that stereotypes most often are accurate, with some notable exceptions. For example, political stereotypes are consistently inaccurate, while gender stereotypes tend to be...
-
QRC Company is trying to decide which one of two alternatives it will accept. The costs and revenues associated with each alternative are listed below: What is the differential revenue for this...
-
A. The AR(1) model for the civilian unemployment rate, UER t = 0.0405 0.4674UERt 1, was developed with five years of data. What would be the drawback to using the AR(1) model to predict changes in...
-
Question 1 You have been tasked to evaluate the financial health and working capital policy of Yoyo Co. The extracts of the balance sheet as at 31 December 2019 and income statement for the year...
-
9.28 Oxygen at -10F and 150 psia is flowing in a 6-in.-diameter line at a rate of 25 lb/s. Estimate the pressure drop across a 3.0-in.-diameter venturi meter that would be available for measuring the...
-
Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $1,600 and the variable cost per cup of coffee served is $0.38....
-
3. As. Mr. Cartwright's financial advisor, would you urge him to go ahead with, or to reconsider, his anticipated expansion and his plans for additional debt financing? As the banker, would you...
-
A trust fund manager needs to determine how to invest $200,000 in the following collection of bonds to maximize the pre-tax annual return. Bond Annual Return Maturity Risk Tax-Free A 9.5% Long High...
-
An employer must always use a calendar year for payroll purposes. Agree or disagree and explain your answer.
-
Revol Industries manufactures plastic bottles for the food industry. On average, Revol pays $76 per ton for its plastics. Revol's waste-disposal company has increased its waste-disposal charge to $57...
-
In Fig. 4-41, a ball is launched with a velocity of magnitude 10.0m/s, at an angle of 50.0 o to the horizontal. The launch point is at the base of a ramp of horizontal length d 1 = 6.00 m and height...
-
In Fig. 4-44, a ball is thrown up onto a roof, landing 4.00 s later at height h = 20.0 m above the release level. The ball's path just before landing is angled at = 60.0? with the roof. (a) Find the...
-
A batter hits a pitched ball when the center of the ball is 1.22 m above the ground. The ball leaves the bat at an angle of 45o with the ground. With that launch, the ball should have a horizontal...
-
Why are gains/losses added back to (or deducted from) the cash from operations section of a cash flow statement?
-
Combination A, B, C, and F is the fifth most valuable with an NPV of $169,000. how did you came up with it?
-
Using a suitable example explain how you would check that equipment is ready for shut down to commence?
Study smarter with the SolutionInn App