Question: What requirements exist when the auditors use the work of client personnel as a part of the evidence obtained for an audit of internal control?

What requirements exist when the auditors use the work of client personnel as a part of the evidence obtained for an audit of internal control? In which areas of the audit would one expect this to be most likely to occur?

Step by Step Solution

★★★★★

3.42 Rating (177 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

The auditors may use the work of others as a part of an audit of internal control On... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

336-B-A-A-A-N (1371).docx

120 KBs Word File

Students Have Also Explored These Related Auditing Questions!

When performing an audit of internal control over financial reporting, auditors may distinguish among the following types of transactions: routine, nonroutine, and accounting estimates. Distinguish...

AS5 outlines the processes for An Audit of Internal Control over Financial Reporting That Is Integrated with an Audit of Financial Statements. Paragraph 24 of this document lists eight entity- level...

PCAOB Auditing Standard No. 5, titled "An Audit of Internal Control Over Financial Reporting that is Integrated with an Audit of Financial Statements," provides guidance for auditors when performing...

auditing, explain: What requirements exist when the auditors use the work of client personnel as part of the evidence obtained for an audit of internal control? In which areas of the audit would one...

1. Which of the following presumptions is correct about the reliability of evidential matter? a)Information obtained indirectly from outside sources is the most reliable evidential matter. b)To be...

"PCAOB Inspection Reports for KPMG" is an excellent topic. Summarize 3 reports - 2010, 2012 & 2014.At least 6 references are needed - 3 academic & 3 practitioner (short articles).Please follow the...

ACC 640 9-1 Scenario The auditing team of your CPA firm has performed an audit engagement for Keystone, which consists of testing financial statements, internal controls, and other factors that could...

Qestions: 1) a) Using the IT audit report for the Cancer Prevention and Research Institute of Texas (in the Readings tab), find examples of the items that are supposed to be in IT audit report...

Business memorelating to Audit. All questions and materials needed are attached. Please, ensure you are familiar with auditing before accepting this project. Thank you. THE ACCOUNTING REVIEW Vol. 90,...

At the beginning of the year Big Hazelnut Mills stock price was $95.63. By the end of the year, the stock price had grown to $123.80. During the year, Big Hazelnut Mills paid $3.33 in dividneds per...

Lagan, Inc. has collected the following data. (There are no beginning inventories). Units produced 600 units Sale price $140 per unit Direct materials $50 per unit Direct labour $11 per unit Variable...

If a couple's divorce is finalized on December 3 0 , the couple can elect to file a joint return in the year of the divorce since they were married for almost the entire year. Question 1 options:...

Future Value and Multiple Cash Flows [LO1] Herlige Narren AS has identified an investment project with the following cash flows. If the discount rate is 10 per cent, what is the future value of these...

Audits may be characterized as (a) Financial statement audits, (b) Compliance audits, (c) Economy and efficiency audits, and (d) Program results audits. The work can be done by independent (external)...

You are engaged to examine the financial statements of Spillane Company for the year ended December 31. Assume that on November 1, Spillane borrowed $ 500,000 from Second National Bank to finance...

Question 1 9 1 pts This is a software entity that contains data and procedures. Method Object Class Program

Please answer what is asked in each problems in number 4, 5, and 6. Thank you! 4. Sound waves from a basketball. An experiment was con- 6. Crude oil biodegradation. Refer to the Journal of Petroleum...

Question 13 (4 points) A local food processing firm uses (demand) 24,000 glass jars to produce gourmet jams and jellies per year. It costs the firm $60 each time it places an order for jars with the...