List four factors that would cause the auditor to use a lower percentage for establishing tolerable misstatement.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Auditing & Assurance Services A Systematic Approach

ISBN: 978-1260687637

11th Edition

Authors: William F Messier Jr, Steven M Glover, Douglas F Prawitt

See More Books

Question Posted: Apr 09, 2019 08:43 AM

See More Questions

List four factors that impact safety when checking in freight and moving it to and from inventory.
The following are independent questions. Required (a) List four factors that make audit evidence more reliable. (b) Explain the difference between positive and negative confirmations for accounts...
List four factors that cause the market value of the company as a whole to be greater than the book value of the company.
You deposit $12,000 annually into a life insurance fund for the next 10 years, at which time you plan to retire. Instead of a lump sum, you wish to receive annuities for the next 20 years. What is...
Obtain The Coca-Cola Company's 2010 annual report either using the ''Investor Relations'' portion of its website (do a web search for Coca-Cola investor relations) or go to www.sec.gov and click...
Below is an income statement for Boulder Hill for the year ended December 31, 2021 and the companys balance sheets as of December 31, 2020, and 2021. The prepaid expenses and accrued liabilities...
What is the purpose of timelines in an investigation?
(Entries for Bond Transactions) Presented below are two independent situations. 1. On January 1, 2010, Divac Company issued $300,000 of 9%, 10-year bonds at par. Interest is payable quarterly on...
In Figure 32.14, the battery has an emf of 12.0 V, the inductance is L, and the capacitance C is 9.0 pF. The switch has been set to position a for a long time so that the capacitor is charged. The...
WAR (We Are Rich) has been in business since 1985. WAR is an accrual method sole proprietorship that deals in the manufacturing and wholesaling of various types of golf equipment. Hack & Hack CPAs...
Give three examples of qualitative factors that might affect the auditors choice of the percentage to apply to the benchmark used to establish overall materiality.
If the independent auditors decide that it is efficient to consider how the work performed by the internal auditors may affect the nature, timing, and extent of audit procedures, they should assess...
The data set Movies 06-15 introduced in the Chapter 3 exercises includes the distributor, number of tickets sold, and gross revenue in addition to the MPAA rating and the genre for each of the 10...
Sexton Corporation has projected the following sales for the coming year. Sales 01 $720 Q2 $ 840 Q3 $ 960 04 $ 930 Sales in the year following this one are projected to be 10 percent greater in each...
Whole Pine Inc. s average collection period ( ACP ) is 6 0 days. The company recently generated $ 2 1 5 , 0 0 0 from sales of partial pine parts to part - time pine enthusiasts. What is the company s...
what ways does the intersection of art and technology catalyze socio-cultural transformations, reshaping modes of artistic production, dissemination, and reception, and redefining the boundaries...
Discuss the correlation between principles and natural law. Note: Explain the question with respect of the philosophy of law, you can use online sources or other references to support your...
What is the proper role of the Prosecutor in the criminal justice system? What are some problems that prosecutors face in properly and ethically performing their function? What steps can be taken to...
Explain why the 1988 U.S.Canada Free Trade Agreement created much less controversy in the United States than NAFTA, which included Mexico.
A firm has the following balance sheet: Assets Cash Accounts receivable Inventory Plant and equipment $ 15,000 150,000 92,000 170,000 $427,000 Liabilities and Equity Accounts payable Long-term debt...
Toms Trailers Ltd. (TTL), located in London, Ontario, manufactures industrial trailers that are used to ship goods across the country. Originally, Tom Tran owned 60 percent of the common shares of...
You are the audit senior of Rhino & Co. and you are planning the audit of Kaine Construction Co. for the year ended March 31, 2020. Kaine specializes in building houses and provides a five-year...
Identify the audit risks associated with the installation of the new IT system for patient revenue for Gardens Nursing Home Fellowes and Associates is a successful mid-tier accounting firm with a...
On January 1, 2019, Jerome Company purchased nontrading equity investments which are irrevocably designated at FVOCI Purchase Transaction price Market value December 31, 2019 cost Security A Security...
Identify the revision of the sentence that removes fillers without changing the meaning of the sentence. Isabella was looking for the gross income total in the report when she said she was absolutely...
You are considering investing in the following 10 year cash flow. If you required rate of return is 8%, what is the current value of this project? Assume all cash flows occur at the end of the year....

List four factors that would cause the auditor to use a lower percentage for establishing tolerable misstatement.

Question:

Step by Step Answer:

Factors that would cause the auditor to use a lower percentage for tolerable misstatement High ri...View the full answer

Auditing & Assurance Services A Systematic Approach

Students also viewed these Business questions