The following text relating to materiality was included in the audit report for Sainsburys Plc for the
Question:
The following text relating to materiality was included in the audit report for Sainsbury’s Plc for the year ended 11 March 2017.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
I am highly proficient in school level math and science and reasonably good for college level. In addition to this I am especially interested in courses related to finance and economics. In quest to learn I recently gave the CFA level 1 in Dec 19, hopefully I'll clear it. Finger's crossed :)
4.80+
2+ Reviews
10+ Question Solved
Related Book For
The Audit Process Principles Practice And Cases
ISBN: 9781473760189
7th Edition
Authors: Iain Gray, Louise Crawford, Stuart Manson
Question Posted:
Students also viewed these Business questions
-
Explain the meaning of the terms emoluments, employments and office for the purposes of PAYE as you earn systems. 2. Explain the actual receipts basis of assessing the emoluments from the employment...
-
In September 2014, Tesco PLC (Tesco) admitted to an estimated 250 million profit black-hole in its books after a whistle-blower exposed the issue. Further independent investigations by Deloitte...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Logical fallacies are frequently used in arguments and have an intuitive appeal that makes them effective for politicians to use. Using your understanding of fallacies, you will listen to and take...
-
Rocket ship Able travels at 0.400c relative to an Earth observer. According to the same observer, rocket ship Able overtakes a slower moving rocket ship Baker that moves in the same direction. The...
-
The statement of members equity for Aztec Mines, LLC, is as follows: a. What was the income-sharing ratio in 2005? b. What was the income-sharing ratio in 2006? c. Do the member withdrawals in 2006...
-
The current sections of Depeche Mode Co. balance sheets at December 31, 2001 and 2002, are presented as follows. Depeche Mode's nel income For 2002 was \($163,000\). Depreciation expense was $30,000....
-
Beasley Company makes three types of exercise machines. Data have been accumulated for four possible overhead drivers. Data for these four possible drivers are shown in rows 3 to 7 of the following...
-
(8A) #22-100 North High students were asked about their classes this semester. Are you in PE and are you in band? The responses are recorded in the Venn diagram How many students are in band? b What...
-
Sampling and materiality are both related to audit risk. Discuss. The magnitude of an omission or misstatement that, individually or in the aggregate, could reasonably be expected to influence the...
-
Give some examples of qualitative characteristics an auditor might take into account when deciding if a particular item in the financial statements is materially misstated.
-
The English alphabet contains 21 consonants and five vowels. How many strings of six lowercase letters of the English alphabet contain a) Exactly one vowel? b) Exactly two vowels? c) At least one...
-
Johnson Inc.'s non-strategic investment portfolio at December 31, 2022, consisted of the following: Debt and Equity Investments* 10,600 Xavier Corp. common shares Cost $173,310 80,600 41,800 Fair...
-
How is it that price controls might cause shortages, and why do these shortages increase impact the availability of services? Many have suggested we limit drug prices. Will this work and what is the...
-
If ( 1 / 3 ) ^ x + y = 2 4 3 and log 2 ( 2 y - x ) = 3 , calculate the exact values of x and y algebraically. Show full calculations.
-
The two Countries being used are Canada and the U.S, Use two countries from the region and apply the factor-endowment model of trade to the expected trade patterns. Use the same two countries and...
-
Provides a diagram illustrating the various components and communications of a Tor network by using the following components: Host (OS, Internet connection) Home router, Internet Tor Network VM (OS,...
-
Credit Instruments Describe each of the following: a. Sight draft b. Time draft. c. Bankers acceptance. d. Promissory note. e. Trade acceptance.
-
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...
-
If Total Liabilities increase, which of the following MUST be true?Group of answer choicesAssets MUST increaseAssets minus owners equity Must increaseOwners equity MUST increaseOwners equity minus...
-
I want write Introduction for my accounting assignment. I have chosen Pearson Corporation as my company and the same Introduction should be from accounting point of view. Also need to give...
-
Why does seasonality of sales pose particular problems for companies preparing interim reports? Select answer from the options below Annual sales cannot be reliably projected, causing variability in...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App