Give three examples of qualitative factors that might affect the auditors choice of the percentage to apply
Question:
Give three examples of qualitative factors that might affect the auditor’s choice of the percentage to apply to the benchmark used to establish overall materiality.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (2 reviews)
Qualitative factors that may affect the establishment of the overall materiality step 1 inc...View the full answer
Answered By
Mahesh G
I have more than 7 years of experience in teaching physics, mathematics and python programming to more than 600 students including both online and offline tutoring.
I follow the following 7 step fundamental approach towards tutoring.
1. Curiosity, scope, enlightenment of the topic in hand.
2. Problem Definitions and elaboration.
3. Requisite mathematics, analytical abilities and quantitative
aptitude.
4. Preparing Algorithms for problem statement.
5. Concepts with analogies and building algorithm.
6. Introspection and improvising.
7. Daily class wise Cheat sheets(its not cheating) for consolidation.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Auditing & Assurance Services A Systematic Approach
ISBN: 978-1260687637
11th Edition
Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt
Question Posted:
Students also viewed these Business questions
-
Provide three or more examples of qualitative factors that might influence a decision to process a joint product beyond the split-off point.
-
Give three examples of qualitative factors that might affect the overall materiality.
-
Jobs, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan a home for fires and gas leaks and then transmit this information to a mobile phone. The cost...
-
The crate has a mass of 80 kg and is being towed by a chain which is always directed at 20 degrees from the horizontal. If the magnitude of P is increased until the crate begins to slide, determine...
-
How would a lessee know if a purchase option was a regular purchase option versus a bargain purchase option?
-
ABC Costing for a Service Organization Fairfield Mortgage Company is a full-service residential mortgage company in the Atlanta area that operates in a very competitive market. The CEO, Richard...
-
What is the difference between a predator and a situational (accidental) fraudster?
-
Capital budgeting methods, no income taxes. City Hospital, a non-profit organization, estimates that it can save $28,000 a year in cash operating costs for the next 10 years if it buys a...
-
Tl-208 decays through a beta emission and has a half-life of 3.05 minutes. Besides the beta emission, there are several gamma rays associated with the decay and these gamma emissions occur at...
-
What motivates a parent to bribe key people to get their kid admitted to a prestigious university? That is the ethical question of Operation Varsity Blues. In March 2019, the story broke of an...
-
Which of the following is correct regarding the types of audits over which the ASB and the PCAOB, respectively, have standard-setting authority in the United States? PCAOB ASB Nonpublic company...
-
List four factors that would cause the auditor to use a lower percentage for establishing tolerable misstatement.
-
You are considering six independent variables for inclusion in a regression model. You select a sample of n = 40, with the following results: k = 2 T = 6 + 1 = 7 R2k = 0.214 R2T = 0.653 a. Compute...
-
How does the author utilize polysyndeton and asyndeton to meticulously modulate the rhythm and pacing of the prose, thereby evoking distinct emotional responses and heightening narrative tension?
-
In what ways does the author employ epizeuxis and epistrophe to craft compelling rhetorical emphasis and thematic resonance, thereby imbuing the text with a sense of linguistic dynamism and...
-
How does the author employ ekphrasis to intricately interweave visual artistry into the narrative fabric, thereby augmenting the reader's sensory immersion and thematic exploration?
-
XYZ Investment Firm manages a diverse portfolio of assets for its clients. The portfolio includes stocks, bonds, and real estate investments. To ensure optimal returns and minimize potential losses,...
-
Isabelle's has preferences represented by the Cobb Douglas utility function U(x1,x2)=x12 X2 with MRS = X1 She is currently consuming X1 3, X2 12. How many units of X2 will she be willing to give up...
-
Why did some economists regard traditional trade theory as irrelevant for developing nations and the development process? How can this charge be answered?
-
The following cost information was provided to you for analysis: September 12,000 Units Produced Costs: TIC TAC TOE TING August 10,000 P80,000 70.000 60.000 50,000 How much is the fixed cost per...
-
You are the audit supervisor of Seagull & Co and are currently planning the audit of your existing client, Eagle Heating Co., for the year ending December 31, 2020. Eagle manufactures and sells...
-
Atlantic Academy is a private school that offers education to children from Kindergarten to Grade 7. The school operates as a not-for-profit entity and oversight of the school is performed by the...
-
Gold Explorers Inc. is a major Canadian gold mining corporation. Gold Explorers has mines and development projects in Canada (Northern Ontario and British Columbia), the United States, and South...
-
Show Attempt History Current Attempt in Progress Crane Manufacturing uses a job-order costing system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in...
-
Discuss the role of the cell cycle in stem cell self-renewal, differentiation, and tissue regeneration, including the coordination of cell cycle progression with developmental signaling pathways,...
-
In two pages, In order for products to be successful in global markets, considerable research must be conducted to ensure the product will meet the needs of locals. Marketers must modify the 4P's to...
Study smarter with the SolutionInn App