If the Going Concern questions are not resolved, the auditor must adequately disclose in his report the
Question:
If the Going Concern questions are not resolved, the auditor must adequately disclose in his report the principal conditions that raise doubt about the entity’s ability to continue in operation in the foreseeable future. What are the characteristics of this disclosure?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
If the Going Concern questions are not resolved the auditor must adequate...View the full answer
Answered By
JAPHETH KOGEI
Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are:
Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking,
So, I look forward to helping you solve your academic problem.
I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs.
I travel three times a year either to the USA, Europe and around Africa.
As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc).
So, I look forward to tutoring you. I believe that it will be exciting to meet them.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Principles of Auditing An Introduction to International Standards on Auditing
ISBN: 978-0273768173
3rd edition
Authors: Rick Hayes, Philip Wallage, Hans Gortemaker
Question Posted:
Students also viewed these Business questions
-
If the going concern assumption is not made in accounting, what difference does it make in the amounts shown in the financial statements for the following items? (a) Land. (b) Unamortized bond...
-
Instructions (a) Explain the meaning and implications of the going concern assumption in financial accounting. (b) If the going concern assumption did not apply in accounting, how would this affect...
-
Mini- Case: Going- Concern Reporting. Refer to the mini-case GM: Running on Empty on page C11 and respond to questions 1 6. 1. Reviewing GMs financial information in GM Exhibit 1 and its stock price...
-
On January 1, 2011, Devco acquired cum div. all the shares of Brooke, at which date the equity and liability sections of Brookes statement of financial position showed the following balances: Share...
-
Hayes Company is considering two capital investments. Both investments have an initial cost of $10,000,000 and total net cash inflows of $17,000,000 over 10 years. Hayes requires a 12% rate of return...
-
Water is pumped at a rate of $90 \mathrm{gpm}$ by a centrifugal pump driven by a $10 \mathrm{hp}$ motor. The water enters the pump through a $3 \mathrm{in}$. sch 40 pipe at $60^{\circ} \mathrm{F}$...
-
Audience Scores on Rotten Tomatoes The variable AudienceScore in the dataset HollywoodMovies gives audience scores (on a scale from 1 to 100) from the Rotten Tomatoes website. The five number summary...
-
Effect of order quantity on special order decision Lang Company made 100,000 electric drills in batches of 1,000 units each during the prior accounting period. Normally, Lang markets its products...
-
Question 4 (8 Marks): For this question, your first task is to study the famous "Distance Vector (DV) Routing Algorithm" used at the network layer. You may refer to some slides I recently posted on...
-
For this activity, you have been hired as a team of consultants on a multi-year basis for a global washer and dryer manufacturer. They currently offer two core washer and dryer sets: a high-end model...
-
The auditors report on special purpose financial statements shall include an emphasis of matter paragraph. Why is this necessary?
-
Form of the audit report. The most common type of audit report is the standard unqualified report. Required: A. Review Illustration 12.2, the standard wording of the IAS audit report and Illustration...
-
Examine the accuracy of the following statement: Given that burgers and fries are complementary goods, if the price of fries increases the demand for both goods will fall.
-
Consider the following transaction timeline for XYZ Corp. November 12- open order placed for 500 shares November 13- order filled at $25.25 per share January 4-current market price $61.50 per share...
-
Calculate the total cost for purchasing 100 shares of each of the following funds. Remember to include both sales commission and any transaction costs. a. A load mutual fund that sells for an NAV of...
-
Some credit card issuers are beginning to assess fees and other charges on convenience users. Ask your friends and peers if they think a convenience credit card user should be charged for the...
-
You've just learned that Graham Records has purchased the lifetime distribution rights to the music of a new band called the French Fries. Based on this good news you've estimated that Graham Records...
-
Interview individuals who represent the three stages of the financial life cycle about their credit card usage. How many cards do they have? What kind or class of cards (rebate, premium, affinity,...
-
Give the equation of the reaction described below: Johnny, finding life a bore, Drank some H 2 SO 4 . Johnnys father, an MD, Gave him CaCO 3 . Now hes neutralized, its true, But hes full of CO 2 .
-
What are the key dimensions of critical thinking 2. Watch the NBC Learn video on Diet Scams. What types of claims are made in this video Are they valid Elaborate on your responses. Discuss this video...
-
Describe the Myers-Briggs Type Indicator ( MBTI ) personality framework. Based on the framework, what would you think was your personality type? Why?
-
Identify and describe the five traits of the Big Five personality model.
-
What are two attributes of values? Why are values important in organizational behavior?
-
Write a method (pseudocode) to reverse the queue using another empty queue. You may only use queue operations such as enqueue(), dequeue(), and size(). No other data structure can be used other than...
-
Solve the recurrence relation an = 7an-18an-2-9.2", with initial conditions ao = 5, a = 10. Show all your work.
-
Write an assembly language program that asks the user to enter an integer dollar amount between 1 and 3,000. Your program should display the corresponding class description using the following table....
Study smarter with the SolutionInn App