Question: In multilocation testing, if a location is not determined to be individually significant but may still present specific risks of a material misstatement, and if

In multilocation testing, if a location is not determined to be individually significant but may still present specific risks of a material misstatement, and if documented company-level controls exist, what work would the auditor do at that location?

a. Evaluate documentation and test controls over specific risks.

b. No further action is required for such units. p-986

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Auditing International Approach Questions!

Q:

Appendix A Continuing Payroll Project: Wayland Custom Woodworking ( 1 Month, Part 1 ) ( Static ) Skip to question [ The following information applies to the questions displayed below. ] Wayland...

Q:

I have attached two articles that needs to read and reviewed and then...

Q:

List and explain 5 key business risks which would impact on the audit of JB Hi-Fi. Include the account and assertion most affected by the risks identified. Be sure to link audit risks to their...

Q:

List and explain 5 key business risks which would impact on the audit of JB Hi-Fi. Include the account and assertion most affected by the risks identified. Be sure to link audit risks to their...

Q:

List and explain 5 key business risks which would impact on the audit of JB Hi-Fi. Include the account and assertion most affected by the risks identified. Be sure to link audit risks to their...

Q:

please help me answer this question will rate your answer right away requirements for this : Item Objectives of the CAS (may be copied from the CAS with appropriate citation). Summary of requirements...

Q:

Sharon and Josh have already discussed some specific client acceptance issues, such as independence threats and safeguards. Sharon explains they also must consider the overall integrity of the client...

Q:

Hi Tutor, Please answer Part B - Question 3 & 4 Please provide a reference to support your answer. Thanks. A B C D E F G H Aged Account Receivable as at 31 March 2021 4 Product Line A 5 Customer...

Q:

MINI AUDIT - COOK'S FURNITURE LTD. BACKGROUND INFORMATION BDC, Chartered Accountants is a medium size accounting firm located in Auckland with four audit partners, eight business advisory partners...

Q:

APPENDIX A Audit Procedure Checklist - Student Deliverable Date Initial Audit Procedures Go to https://edu.Confirmation.com, the educational platform created by Confirmation.com for the purpose of...

Q:

APPENDIX A Audit Procedure Checklist - Student Deliverable Date Initial Audit Procedures Go to https://edu.Confirmation.com, the educational platform created by Confirmation.com for the purpose of...

Q:

1. A saturated solution of lead(II) chloride was prepared by dissolving PbCl2 solid in water. The concentration of Pb+2 ion in the solution was found to be 1.62*10^-2M . Calculate Ksp for PbCl2 . 2....

Q:

A wing with a NACA 23015 airfoil profile has an aspect ratio of 10 and a taper ratio of 0.6. The lift coefficient chart for the NACA 23015 airfoil can be found on page 425 of the text. The required...

Q:

Please Set up T - accounts for the accounts on the trial balance and enter beginning balances Prepare an income statement ( including earnings per share ) , statement of stockholders' equity, and...

Q:

Which acid has the largest K a : HClO 2 (aq), HBrO 2 (aq), or HIO 2 (aq)? a) HClOz(aq) b) HBrO (aq) c) HIO(aq) d) All three acids have the same Ka.

Q:

List the key segregation of duties in the purchasing process. What errors or fraud can occur if such duties are not segregated?

Q:

List two inherent risk factors that directly affect the purchasing process. Why should auditors be concerned about issues such as the supply of raw materials and the volatility of prices?

Q:

What control activities typically ensure that the occurrence, authorization, and completeness assertions are met for a purchase transaction? What tests of controls are performed for each of these...

Q:

In this company, employees who worked over 40 hours a week are eligible for overtime pay. They will be compensated 1.5x their regular wages. Calculate the total overtime pay based on the payroll...

Q:

Calculate the amount of money Bradley had to deposit in an investment fund growing at an interest rate of 2.50% compounded annually, to provide his daughter with $12,000 at the end of every year, for...

Q:

Island Novelties, Inc., of Palau makes two products-Hawaiian Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: Selling price...