Question: One of the reasons why the independent auditors perform analytical procedures on the clients' operations is to identify:- 1. Weakness of material nature in

One of the reasons why the independent auditors perform analytical procedures on the clients' operations is to identify:- 

 

1.  Weakness of material nature in internal Control

2.  Unusual transactions

3.  Improper segregation of accounting and other financial duties 

4.  Non-compliance with prescribed control procedures 

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 Accounting Questions!

Q:

One of the reasons why the independent auditors perform analytical procedures on the clients' operations is to identify:- 1. Weakness of material nature in internal Control 2. Unusual transactions...

Q:

One of the reasons why the independent auditors perform analytical procedures on the clients' operations is to identify:- 1. Weakness of material nature in internal Control 2. Unusual transactions...

Q:

One of the reasons why the independent auditors perform analytical procedures on the clients' operations is to identify:- 1. Weakness of material nature in internal Control 2. Unusual transactions...

Q:

One of the reasons why the independent auditors perform analytical procedures on the clients' operations is to identify:- 1. Weakness of material nature in internal Control 2. Unusual transactions...

Q:

One of the reasons why the independent auditor performs analytical procedures on the clients' operations is to identify:- 1. Weakness of a material nature in internal control 2. Unusual transactions...

Q:

1. A set of characteristics that helps to define a seriousness about employees' attitudes about the control activities in a company is referred to as A. Management assertions. B. Control environment....

Q:

1. Where the auditor has assessed control risk of a particular area of a reduced level, he or she will then a. Eliminate the need to gather evidence in that area b. Test the effectiveness of the...

Q:

An audit strategy can take A. a reliance on procedures approach, a substantive app B. a reliance on controls approach, a subst C. neither a reliance on controls appr D. an approach whereby only...

Q:

Need help with 30 multiple choice auditing questions Audit: Exam 1 1. Which of the following procedures would an auditor likely include in the initial planning of a financial statement audit? a....

Q:

Audit Procedures for Auditor's Responsibility for Fraud Detection Fraud detection is a critical aspect of an auditor's responsibility during an audit engagement. While the primary objective of an...

Q:

Refer to Exercise 5 in Section 9.1. a. Use the Fisher LSD method to find a 95% confidence interval for the difference between the means for specimens aged 3 days and specimens aged 365 days. b. Use...

Q:

Bellamonte Co. bought 3,000 shares of German common stock at $40; 620 shares of Chile stock at $47.75; and 1,800 shares of Sweden stock at $78all as available-for-sale investments. At December 31,...

Q:

based on canadian tax laws: Instructions: 1 . Part A: Taxable Income and Tax Payable Write a detailed analysis covering: The differences between net income and taxable income. The categorization of...

Q:

A hula hoop and solid disc of equal radii are rolled, from rest and without slipping, down an incline plane. Which one will reach the bottom of the inclined plane first? Explain.

Q:

On September 30, 1996, Print-O-Matic Inc. entered into an arrangement with its bank to bor row $250,000. The principal is due on October 1, 2001, and the note has a stated annual inter est rate of 10...

Q:

On January 1, 1997, Outreach Incorporated sold services to a Canadian supply company and accepted a three-year note in the amount of 11,000 Canadian dollars. Exchange rates between the U.S. dollar...

Q:

Excerpts from the 1996 financial statements of Finley, Ltd., a service company, follow. Fees earned $240,000 Accounts receivable 68,000 Allowance for doubtful accounts 3,400 Total current assets...