How does auditors opinion recognize the absence of accuracy

Assignment Help Financial Accounting
Reference no: EM13891239

Interpret auditors' opinion It is impossible for an auditor to "guarantee" that a company's financial statements are free of all error because the cost to the company to achieve absolute accuracy (even if that were possible) and the cost of the auditor's verification would be prohibitively expensive. How does the auditors' opinion recognize this absence of absolute accuracy?

Reference no: EM13891239

Questions Cloud

Calculate firm ns working capital and current ratio : Calculate working capital and current ratio Firm O has accounts receivable of $31,000, cash of $14,600, property. Calculate Firm N's working capital and current ratio.
Evaluating the effectiveness of a new strategy : What are some metrics or evaluation indicators one should consider when evaluating the effectiveness of a new strategy in a healthcare organization
Explain physiological issues present in physician referral : Explain the physiological issues present in the Physician Referral Sheet might impact the woman's overall mental health and sexual functioning. Also, how your understanding of this person's physiological issues might inform your counseling work wi..
Provide clear explanation for the information in the matrix : provide clear explanation for the information in the matrix
How does auditors opinion recognize the absence of accuracy : Interpret auditors' opinion It is impossible for an auditor to "guarantee" that a company's financial statements. How does the auditors' opinion recognize this absence of absolute accuracy?
What are the implications for a company : What are the implications for a company that practices occupational stratification, How should a human resources manager respond to occupational stratification and What are the implications for a company that allows racial practices in the workplace?
Identify the principal topics covered in the disclosures : Identify the principal topics covered in those disclosures. Are there other topics that you believe would be appropriate to have included in those disclosures?
How can a psychology instructor stay informed : Can someone help with at least one way that instructional design can support positive social change in higher education and what are maybe two actions and the action steps needed for a psychology instructor to be an agent of positive social change..
Discussion of npd and the plc : Augment our discussion of NPD (New Product Development) and the PLC(product life cycle) by digging into the following subjects: true cost, externalities, "The Story of Stuff" (Annie Leonard/YouTube), the materials economy, planned obsolescence, "p..

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  What is the amount of working capital they have available

Quality Health Care has cash of $450,000, accounts receivable of 1.45 million, inventory of $250,000 building and equipment of $1.5 million and long-term investments of 2.4 million. They have accounts payable of $950,000 and long-term debt of $3 mill..

  Dfective units reworking of units prevention cost

defective units reworking of units prevention cost appraisal cost given difference of profit earned to find number of

  What will the accountant do to find the error

The trial balance is out of balance and the accountant suspects that a transposition or slide error has occurred. What will the accountant do to find the error?

  Question given are pre-acquisition financial balances for

question given are pre-acquisition financial balances for padre company and sol company as of december 31. also

  Assume the roles of brent and den

The request should specify all the details of Brent's and Den's plan that will motivate the bank to grant the loan. Include a budgeted income statement for the first six months of the copy centre's operation.

  What amount should white report as cost of goods sold

What amount should White report as Cost of Goods Sold in the 2011 income statement?

  Q1 in the case of a taxpayer who uses the

q1. in the case of a taxpayer who uses the lower-of-cost-or-market inventory methoda.market means the price at which

  Preparing balance sheetnbsp for forgetful insurance

preparing balance sheetnbsp for forgetful insurance company.background this project provides a set of annual statements

  1 in order to restructure some of its debt general motors

1. in order to restructure some of its debt general motors decided to pay off one of its short-term loans.nbsp if the

  How much cash should grant receive from the bank

Computation the NRV of accounts receivables - How much cash should Grant receive from the bank on May 15?

  What price should matt charge per rental for the business

Matt is happy with the steady rental average of 6,400 per year. For this number of rentals, what price should Matt charge per rental for the business to make a 20 percent life-cycle return on investment?

  Conduct a what-if analysis

Conduct a What-If Analysis: This what-if analysis concerns an unforeseen circumstance that could impact the company's current health as well as its future plans. A major customer is considering cancelling their order for prepared apple products.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd