Why is it essential that the auditor not leave questions or exceptions in the audit documentation without

Question:

Why is it essential that the auditor not leave questions or exceptions in the audit documentation without an adequate explanation?

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 an integrated approach

ISBN: 978-0132575959

14th Edition

Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley

See More Books

Question Posted: Oct 10, 2012 07:20 AM

See More Questions

Why is it essential that management compensation, including bonuses, be linked to financial goals and strategies that achieve shareholder value?
Why is it essential that the same restriction enzyme be used to cleave (cut) the DNA of both organisms used to create a transgenic organism?
Why is it essential for organizations to segment markets and target particular groups of consumers?
Hatch plc has two classes of share capital outstanding: 8%, 20 par preference and 5 par ordinary. At December 31, 2021, the following accounts were included in equity. Share CapitalPreference,...
Find all real numbers x such that: [2 -1 l]T and [1 x 2]T are at an angle of /3.
What do you think western countries can do to help improve the political climate in Vietnam?
Suppose the current term structure of interest rates is $(.070, .073, .077$, $.081, .084, .088)$. A plain vanilla interest rate swap will make payments at the end of each year equal to the...
Savage Motors sells and leases commercial automobiles, vans, and trucks to customers in southern California. Most of the company's administrative staff works in the main office. The company has been...
Marco Company shows the following costs for three jobs worked on in April. Job 3 0 6 Job 3 0 7 Job 3 0 8 Balances on March 3 1 Direct materials used ( in March ) $ 3 1 , 8 0 0 $ 3 7 , 8 0 0 Direct...
The owner of Neros company has hired you to analyze her company's performance and financial position, as well as the positions of Iits competitors, Centar and Xermix. However, the data Neros abtained...
Distinguish between the following types of current period supporting schedules and state the purpose of each: analysis, trial balance, and tests of reasonableness.
Define what is meant by a tick mark. What is its purpose?
Sterling Companys bank statement for the month of March included the following information: Ending balance, March 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $28,046 Bank...
A 1.2 kg rock is found on the moon. What is its weight on the moon where the acceleration due to gravity is 1.62 m/s 2 ?
Two movers apply forces to a 487 kg piano. If one mover pushes the piano with a force of 250 N, and the other pulls with a force of 160 N, what is the acceleration of the piano?
Simplify the complex fraction. X y +8 y 4
A homecoming float in the parade with a mass of 220 kg is traveling at constant speed, if the force that the float exerts to keep moving is 892.6 N, what would be the coefficient of friction be to...
Evaluate the following expression. 13! 4!(13-4)!
Which of these transfer protocols must be used so that a URL can be accessed by URLConnection class object? (a) http (b) https (c) Any Protocol can be used (d) None of the mentioned
How do the principles of (a) Physical controls and (b) Documentation controls apply to cash disbursements?
Read the section on the Elements of the marketing mix and devise mixes for the following companies and their target consumers: (a) A student backpacker hostel (b) A luxury boutique hotel (c) A budget...
Why is an organization more likely to have poor internal controls over accounts payable than over accounts receivable?
What possible misstatements could occur with manufacturing equipment?
Why does the auditor need to ask if any equipment purchases are from a related party?
Required Information [The following Information applies to the questions displayed below.] Simon Company's year-end balance sheets follow. At December 31 Assets Current Year 1 Year Ago 2 Years Ago...
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor...
Correlle dishes are known for being mostly unbreakable in daily use. Kevin's 12-year-old son decided to test this "unbreakable" idea by throwing a plate hard onto the floor. It broke. what this is an...

Why is it essential that the auditor not leave questions or exceptions in the audit documentation without

Question:

Step by Step Answer:

Unanswered questions and exceptions may indicate the potential for signifi...View the full answer

Auditing and Assurance services an integrated approach

Students also viewed these Auditing questions