Question: A . Why would the inherent and control risks at Kid Castle be of concern to a potential auditor?

A. Why would the inherent and control risks at Kid Castle be of concern to a potential auditor?

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 Finance Questions!

Q:

Kid Castle Educational Corporation, Brock, Schechter & Polakoff LLP, PCAOB LO 2, 3, 4 General Background. On May 22, 2012, the audit firm of Brock, Schechter & Polakoff LLP (hereafter BSP) was...

Q:

On May 22, 2012, the audit firm of Brock, Schechter & Polakoff LLP (hereafter BSP) was censured and fined $20,000 by the PCAOB in relation to its audits of public companies located in Taiwan and...

Q:

On May 22, 2012, the audit firm of Brock, Schechter & Polakoff LLP (hereafter BSP) was censured and fined $20,000 by the PCAOB in relation to its audits of public compa- nies located in Taiwan and...

Q:

Plz answer questions, highlight in red, and at least 93% correct, otherwise answer will be deny!!! plz really carefully working in it!!!!!!!!! plz!!!!!!!!! if you cannot make that correct, don't take...

Q:

pls high light the answer in red!!! again pls make sure have at least 90% correct, otherwise answer will be...

Q:

On June 28, 2012, Richard Abernethy, managing partner of Abernethy and Chapman, met with the firms three-member engagement review committee to discuss the Lakeside Company audit. He believes that...

Q:

Help me with the answers ,I need 95% at least I 'll give you good tip whoever help me to get 95 %trust me Question 1 of 50 Which of the following statements is false? Lapping of accounts receivable...

Q:

1 of 50 Which of the following statements is false? Lapping of accounts receivable is least likely to occur when there is an inadequate segregation of duties. Alternative procedures to the...

Q:

Help me with all the answers Question 1 of 50 Which of the following statements is false? Lapping of accounts receivable is least likely to occur when there is an inadequate segregation of duties....

Q:

ACTIVITY 1: MULTIPLE CHOICE 1.Which of the following is an incorrect statement? a.Detection risk cannot be changed at the auditor's discretion b.If individual audit risk remains the same, detection...

Q:

On December 31, 2010, the Palmer Company determined that the 2010 service cost on its defined benefit pension plan was $120,000. At the beginning of 2010, Palmer Company had pension plan assets of...

Q:

How does technology change traditional marketing?

Q:

Melet Consepts somberg LP Which of the following statements is true? When you buy an equilig, the most you cmi loes is 1 0 0 % and your potenticl gain is unlimited. When you buy an equity, you one...

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...