Question: When using confirmations with outside parties, the auditor must assure which of the following about the outside party? The outside party exists. The outside party

When using confirmations with outside parties, the auditor must assure which of the following about the outside party?
The outside party exists.
The outside party is able to respond objectively and independently.
The outside party is unbiased in responding.
All the above.

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:

Waterways Corporation is preparing its budget for the coming year, 2022. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in...

Q:

1 1 1 ?Which of the following occurs when, based on sample results, control risk is assessed excessively high Errors that are more likely to occur than anticipated a O A less expensive audit b...

Q:

Need to change the attached to my own words. Let me know if any questions 1. What is the difference between an information technology general computing control and an automated application control?...

Q:

Need to change the attached to my own words. Let me know if any questions 1. What is the difference between an information technology general computing control and an automated application control?...

Q:

Need to change the attached to my own words. Let me know if any questions 1. What is the difference between an information technology general computing control and an automated application control?...

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:

I am needing assistance with a paper that is due on October 9th. I only need help on Part 3 of this paper which is Ratio Analysis. Could answer these questions in Part 3 from 1-5. Financial Analysis...

Q:

Highlight the right answers in colors ,make sure I,ll get more than 95% Question 1 of 45 All of the following statements are true, except: A tendency for fraud may exist when the granting of stock...

Q:

Learning Outcomes define the valuation and reporting of current liabilities, estimated liabilities, and other contingencies. interpret company solvency through selection and application of...

Q:

I need help with the following review questions please! Its related to ethics and accounting, should be straight forward please help. I need this by tomorrow. Please let me know if you need any...

Q:

Hi, I've talked to you earlier that you know the answers for the Enron case. Is it possible to get this done by afternoon of Wednesday at best. If not I'm also willing to take this on a Friday....

Q:

These numbers are not written in proper scientific notation. Rewrite them so that they are in proper scientific notation. a. 8,099 10-8 b. 34.5 100 c. 0.000332 104

Q:

Refer to the work sheet in Problem 6-7A for Megaffin's Repairs. The trial balance amounts (before adjustments) have been entered in the ledger accounts provided in the working papers. If you are not...

Q:

Which of the following is an adjustment in the alternative minimum tax calculation? a . State income tax b . Home mortgage interest c . Life of depreciation calculation d . Private activity bond

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...