Question: auditing course Question_2: |Marks: 10+20+10-40| a) Analytical procedures are typically done during the planning phase how auditors use analytical procedures during the planning phase of

auditing course

Question_2: |Marks: 10+20+10-40| a) Analytical procedures are typically done during the planning phase how auditors use analytical procedures during the planning phase of an audit. b) The following Budgeted financial information of Fast tech Ltd. is contrasted with the management results for the 12 months under review. Which of the areas would you be most likely to investigate further as a result of carrying out analytical procedures on the above? Explain your findings. c) What is inherent risk? Identify four factors that make for high inherent risk in audits

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!

I need some *((familiar with Integrated Audit Practice case assignments))* to help me complete this assignment as soon as possible. There is each worksheet that needs to complete missing information....

SECTION A (30 marks) This section consists of ONE (1) compulsory question QUESTION 1 (30 marks) ABC Ltd is a wholesaler of furniture which has been in operation for ten years. It buys furniture from...

Part 5 section 2 management assertions matching questions 1-8 I ' I Name p(\\V)v\\ C:V\\ L SO LLrrt:o10 5:30 Class FORM A Part 1 Multiple Choice (152 Points) AF 470 Financial Auditing Midterm Exam...

Hello, I need a professional tutor who is specialized on financial auditing to analyze the attached fraud case study and to answer all 10 requirement questions on the case study. Please note that I...

You are a new staff member of Monet & Associates, a mid-sized accounting firm and have been assigned to an engagement team that is conducting the financial report audit for Harrisons Ltd (Harrisons)....

2. (a) Explain what analytical procedures are and explain how the auditor uses analytical procedures during the course of the audit. [4 marks) You are planning the audit of Bright Co, whose principal...

Case Study: Audit Procedures for Audit Documentation and Working Papers In a large auditing firm, a team of auditors is tasked with conducting an audit of a manufacturing company's financial...

RISK ASSESMENT DONE BELOW: Potential Risk Type of Risk, Description Accounts Assertions Inherent Risk (high), Risk of currency movement. Accounts Receivables, Accounts Payables, Sales, Purchases...

Case Study: Audit Procedures for Audit Documentation and Working Papers In a large auditing firm, a team of auditors is tasked with conducting an audit of a manufacturing company's financial...

Conda Products Company implemented a JIT work environment in its trowel division eight months ago, and the division has been operating at near capacity since then. At the beginning of May, Work in...

2) Suppose a ten-year bond with semiannual coupons has a price of $928.93 and a yield to maturity of 7%. This bond's coupon rate is closest to: A) 3.5% B) 8.0% C) 7.0% D) 6.0%

From your current employer or from the internet find financial statements as described in Chapter 2 of the Zelman, William N.; McCue, Michael J.; Glick, Noah D required reading, perform a horizontal,...

a=2 b= 0 c= 2 d=0 e=0 f=9 g=3 5. Draw the Network diagram for the following project. Estimate the Earliest start time and Latest finish time for each activity. If every day it cost 200 rials for this...