Why would an auditor use observation to gather evidence? What are the strengths and weaknesses of this
Question:
Why would an auditor use observation to gather evidence? What are the strengths and weaknesses of this type of test?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
Auditors may use observation as a method to gather evidence during an audit for various reasons Observation involves physically watching or inspecting ...View the full answer
Answered By
User l_1042970
I have three years of experience as a dedicated tutor, empowering students with personalized learning strategies, academic support, and motivation. My expertise spans a wide range of subjects, fostering both subject proficiency and critical thinking skills. I take pride in cultivating a positive and engaging learning environment to inspire students to reach their full potential.
0.00
0 Reviews
10+ Question Solved
Related Book For
Auditing A Practical Approach
ISBN: 9780730382645
4th Edition
Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton
Question Posted:
Students also viewed these Business questions
-
Sharon Gallagher (audit manager), Josh Thomas (audit senior), Ian Harper, and Suzie Pickering (both audit staff) are meeting to discuss their internal control assessment for Cloud 9. Sharon asks,...
-
This week, you will conduct system selection, which requires completion of the following steps: Reviewing a Request for Proposal (RFP)this invites selected vendors to submit a proposal to you that...
-
Analytics mindset Final Project 4 Gamification Part 1: Background You are the chief technology officer (CTO) of an international bank. A key component of your job is to manage risk within the bank...
-
DTG agreed to merge with the SPQ. The total equity purchase price of $45,000 is going to be 50% financed issuing DTGs common shares and 50% financed with cash raised by DTG issuing long-term debt....
-
What are the four attributes needed to perform assurance services? Briefly describe each attribute and its importance. Are these attributes also required for audits of a non-public company?
-
Assume that youre a manager in a firm that plans to move to a new building in the suburbs. Outline some major considerations for effecting this change with a minimum of friction among employees.
-
Use ridge regression on the Hald cement data (Table B.21) using the value of \(k\) in Eq. (9.8). Compare this value of \(k\) value selected by the ridge trace in Problem 9.17. Does the final model...
-
Xerox's iGenX high-speed commercial printers cost $1.5 billion to develop. The machines cost $500,000 to $750,000 depending on what options the client selects. Spectrum Imaging Systems is considering...
-
Gross profit 464,000 Other income Provision for foreign exchange gain 84,000 Gain on sale of motor vehicle 28,000 Release of liability 32,000 Refund of excise duty 16,000 Investment income (gross)...
-
Landual Lamps (Landual) manufactures and delivers floor and table lamps for homes and offices in Beeland. The company sells through its website and uses commercial logistics firms to deliver their...
-
What does nature mean in the context of the nature, timing and extent of substantive testing?
-
Explain the purpose of substantive testing, and give examples of the main types of substantive tests.
-
Some investigators think that the concentration (mg/mL) of a particular antigen in supernatant fluids could be related to onset of meningitis in infants. The accompanying data are typical of that...
-
David Zigler was an employee of Featherstone Foods. Joel Schonfeld was Ziglers employer. The two exchanged e-mails in which Zigler sought assurance that he would have a right of first refusal to...
-
Fraudulently altering a public document can be forgery. (True/False)
-
The statutory law of the United States includes a. the statutes enacted by Congress and state legislatures. b. the rules, orders, and decisions of administrative agencies. c. both the statutes...
-
What must occur for the Uniform Electronic Transactions Act (UETA) to apply to a transaction?
-
RICO has become an effective law in fighting certain white-collar crime, such as securities fraud. (True/False)
-
Terrills Transmissions uses a job order cost system. A partial list of the accounts being maintained by the company, with their balances as of November 1, follows: Cash. . . . . . . . . . . . . . . ....
-
Ask students to outline the reasons why the various elements of culture (social structures and control systems, language and aesthetics, religion and other belief systems, educational systems, etc.)...
-
Explain what the user auditor is looking for in a SOC 1, Type 2 report. Write no more than one paragraph for each section of the SOC 1, Type 2 report.
-
FinSer Corporation offers its clients investment portfolio reporting services. Required Download the FinSers SSAE 18 2019 SOC 1, Type 2 report (https://www.finser.com/images/pdf/2019_...
-
As discussed in the chapter, the results of tests of controls should ultimately influence the auditors audit strategy. Required Explain the differences between an audit of internal controls as...
-
Apple computers did not offer a dividend for 17 years but yet investors still hang on. in what situation would you be OK with not being paid a dividend? Since you are not getting annual returns on...
-
A company has been improving its organizational security and compliance program since the last security review was conducted one year ago. What should the company do to evaluate its current risk...
-
Impressions, views, click through rate, cost per click, landing page visits, revenue per visitor engagement metrics for high-value customers. email open rates, click through rates, dwell times, and...
Study smarter with the SolutionInn App