Develop an example of the type of substantive test an auditor might use to investigate notable items
Question:
Develop an example of the type of substantive test an auditor might use to investigate notable items when ADA is performed as a risk assessment procedure.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
They develop their own example such as the following During risk ...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Question Posted:
Students also viewed these Business questions
-
Explain how applying ADA as a substantive test differs from ADA as a risk assessment procedure.
-
Select the correct answer for each of the following questions. 1. Form 10-K is filed with the SEC to update the information a company supplied when filing a registration statement under the...
-
Identify two substantive audit procedures that an auditor might use to gain assurance about the correctness of perpetual inventory records.
-
On June 15, 2020, Smithson Foods purchased $1,000,000 of 2.5 percent corporate bonds at par and designated them as availableforsale investments. On December 31, 2020, Smithsons yearend, the bonds are...
-
Suppose the Churchill company has this book value balance sheet: The current liabilities consist entirely of notes payable to banks, and the interest rate on this debt is 4%, the same as the rate on...
-
Find the largest integer k such that your calculator can compute k! without an overflow error.
-
Design Data sold a piece of machinery to HHB Drafting Company. However, after HHB had taken possession of the machine, it discovered damage and revoked the contract. The court found that the...
-
On April 1, Julie Spengel established Spengels Travel Agency. The following transactions were completed during the month. 1. Invested $15,000 cash to start the agency. 2. Paid $600 cash for April...
-
DataBase managment design. Do the dowsings: 1. Run the sql commands written in ddl.sql file attached 2. Create_a dummy data. You can use "fake data generators" 3. Write followings - Write the query...
-
Differentiate. F(t) = At/Bt 2 + Ct 3
-
When analyzing the results of substantive procedures, auditors should beware of: a. Professional skepticism. b. Audit engagement deadlines. c. Confirmation bias. d. Weak internal controls.
-
Which of the following situations increases the reliability of data being used for substantive analytical procedures? a. The source of the data is the clients internal budget reports. b. During the...
-
There are several typical cube computation methods, such as MultiWay [ZDN97], BUC [BR99], and Star-Cubing [XHLW03]. Briefly describe these three methods (i.e., use one or two lines to outline the key...
-
Carving Champs Corp (CCC) just purchased a life-sized Pumpking for an expansion project. CCC paid $920,000 for the Pumpking, which will be straight-line depreciated to $100,000 over the next 10...
-
What are the consequences of eliminating or reducing the use of plea bargains in our criminal justice system? Given the arguments presented, should the use of plea bargaining be eliminated or...
-
Tom has $100,000 in a pension fund, and Jerry has no pension. Tom and Jerry have similar amounts of non-pension savings. Explain in mental accounting why Tom and Jerry are likely to have similar...
-
Compare the strategies of Burger King, Domino's, and McDonald's in response to the rising costs? 2. Use the Supply and Demand model, explain how higher food prices and changes in consumer spending...
-
A company just paid a dividend of $0.80 per share and the dividend is expected to grow at a constant rate of 6% per year in the future. The company's beta is 1.25, the market risk premium is 5%, and...
-
Data for Pippen Company and Thomas Co. are presented in E5-5. In E5-5 Dec. 3 Pippen Company sold merchandise to Thomas Co. for $32,000, terms 2/10, n/30, FOB destination. This merchandise cost Pippen...
-
What is removed during each of the three stages of wastewater treatment: primary, secondary, and tertiary? During which state would you expect items to be recovered that were accidentally flushed,...
-
Briefly describe a purchase you made where the customer service level had an e f fect on the product you selected or where you purchased it.
-
Discuss the types of trade-offs involved in PD costs, service levels, and sales.
-
Give an example of why it is important for different firms in the supply chain to coordinate logistics activities.
-
Provide an overview of the best practices in risk identification during the risk identification step.
-
Explain what role does "Lead Time and Process Speed" play in the implementation of Lean Six Sigma?
-
In recent years, some Walmart workers have staged public protests about inadequate wages and unfair treatment. A number of these employees claim that management has retaliated against them for...
Study smarter with the SolutionInn App