What does the auditor do when misstatements are identified that are not material? Why would these nonmaterial

Question:

What does the auditor do when misstatements are identified that are not material? Why would these nonmaterial misstatements be reevaluated?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing and Assurance Services Understanding the Integrated Audit

ISBN: 978-0471726340

1st edition

Authors: Karen L. Hooks

See More Books

Question Posted: Oct 07, 2015 02:51 AM

See More Questions

What does the auditor consider in evaluating the work of others? What tests might the auditor perform?
What does the auditor have to do if others provide direct assistance on the audit?
What does the auditor consider in concluding on whether managements underlying assumptions for estimates are appropriate?
Measure each amount given in Problems 1721. a. Container C in ounces b. Container C in milliliters mL 500- 400- 300 200- 100 cups 2 1 -16-ez -14 oz -12 oz -110 oz 8 oz -16 oz -4 oz 2 oz Container C...
Example 11 discussed how the winning height in the Olympic high jump changed over time. Using the High Jump data file on the text CD, MINITAB reports Women_Meters = 10.9 0.00650 Year_Women for...
Consider a subsonic flow with an upstream Mach number of $M_{\infty}$. This flow moves over a wavy wall with a contour given by $y_{w}=h \cos (2 \pi x / l)$, where $y_{w}$ is the ordinate of...
Find the explicit solutions of the following stochastic differential equations: (a) Ornstein-Uhlenbeck process: \[d X_{t}=\mu X_{t} d t+\sigma d B_{t}\] (b) Mean reverting Ornstein-Uhlenbeck process:...
Ethylene glycol flows at 0.0 I kg/s through a 3-mm-diameter, thin-walled tube. The tube is coiled and sub-merged in a well-stirred water bath maintained at 25C. If the fluid enters the tube at 85C,...
X. Consider the graph of the function f(x) = 5x - 8x. Find the slope of the secant that joins the points on the graph given by x=-2 and x = 3. Determine the average rate of change as x changes from...
P1-4B Gloria Rodd started a consulting firm, Rodd Consulting, on May 1, 2015. The following transactions occurred during the month of May May 1 2 Paid $800 for office rent for the month. 3 Purchased...
What is sampling error?
What does an auditor have to know about managements estimation process? About the underlying assumptions management uses to make estimates?
Let (a) Find L(1). (b) Find L'(x) and L'(1). (c) Use a graphing utility to approximate the value of x (to three decimal places) for which L(x) = 1. (d) Prove that L(x 1 x 2 ) = L(x 1 ) + L(x 2 ) for...
In the 2014 race for the governor of Illinois, the state vote was as follows: Was there a majority winner in this election, and if so, who was it? B. Rauner P. Quinn C. Grimm TOTAL: 1,781,052...
A focus group of 33 people for $A B C T V$ were asked to rank the government spending priorities of education $(\mathrm{E})$, military spending $(\mathrm{M})$, health care $(\mathrm{H})$,...
The city district attorney has 60 litigators to be divided among three courts. The following table shows the schedule of the number of pending cases for each court. Court: Pending cases: A 209 B 769...
In 1988 the 94th International Olympic Committee (IOC) met in Seoul to select the 1994 Winter Olympics site. The cities in the running were Anchorage (A), Lillehammer (L), Ostersund (T), and Sofia...
Packard-Hue manufactures testing equipment at four locations, and has just hired 300 new employees. Those employees are to be apportioned using production levels at the four locations according to...
In Problems 710, use the matrices below to compute each expression. CB A = 1 0 3 -1 - 4 2 -C 0 B = 1 -2 5 3 31 C = 4 6 1-3 8 -1
A crop-dusting plane flies over a level field at a height of 25 ft. If the dust leaves the plane through a 30 angle and hits the ground after the plane travels 75 ft, how wide a strip is dusted? See...
An auditor most likely would analyze inventory turnover rates to obtain evidence concerning managements balance assertions about a. Existence. b. Rights and obligations. c. Completeness. d. Valuation...
An auditor most likely would analyze inventory turnover rates to obtain evidence concerning managements balance assertions about a. Existence. b. Rights and obligations. c. Completeness. d. Valuation...
An auditor would vouch inventory on the inventory status report to the vendors invoice to obtain evidence concerning managements balance assertions about a. Existence. b. Rights and obligations. c....
Use matrices (row-echelon form) to solve the following system of linear equa- tions. If the system has no solution, say that it is inconsistent. 3x + 2y = 7 x+y=3
For the following function : f(x) = 1/3 x^3 + 4x^2 + 16x a. Determine the critical points. b. Calculate the second derivative c. Determine if the function is concave up or down or not concave d....
2. An activity director for a cruise ship has surveyed 240 passengers. Of the 240 passengers; 135 like swimming, 150 like dancing, 65 like games, 80 like swimming and dancing, 40 like swimming and...

What does the auditor do when misstatements are identified that are not material? Why would these nonmaterial

Question:

Step by Step Answer:

One of the major objectives of an audit is to detect material m...View the full answer

Auditing and Assurance Services Understanding the Integrated Audit

Students also viewed these Auditing questions