Identify the audit procedure

Assignment Help Auditing
Reference no: EM13822986 , Length:

Complete part (A) of the homework as instructed. Which assertions are most likely to be misstated?

New part (B): For each assertion in part (a), identify the audit procedure you would use to collect persuasive evidence. Try and be as specific as possiblem don't just say "documentary" for example, tell me exactly what sort of document would you be looking at?

(a) They are asking for the TYPES of evidence here - documentary, computational etc

(b) I'd have a read of ASA520 - it could be helpful 5.35 Instead of applying ASA 600, use ASA 610 for this question. When would we decide not to use the work of the internal auditor?

Reference no: EM13822986

Questions Cloud

Evaluate the effectiveness of traditional bases for pay : Evaluate the effectiveness of traditional bases for pay at the company you researched. Analyze how your company applies compensation practice to determine the positive or negative impact to the company.
Wave-particle duality: light and electrons : Wave-Particle Duality: Light and Electrons
Equipment with a fair value-carrying value : Morris, Inc. Corporation purchased equipment with a fair value of $600,000 on a 6 percent note. The note requires five end-of-year payments of $142,438. What would be the carrying value of the note immediately after the second payment?
Analyze the current trends in patient data capture : Analyze the current trends in patient data capture and information sharing among health care providers, assessing their impact on your organization's operations
Identify the audit procedure : Identify the audit procedure you would use to collect persuasive evidence. Try and be as specific as possiblem don't just say "documentary" for example, tell me exactly what sort of document would you be looking at?
Projects internal rate of return-initial investment : A project with a profitability index of 1.156 also has net cash flows with a present value of $46,240. The project's internal rate of return was 10%. The initial investment was
Data from exercise above to make the journal entries : Ryan Patrick operates a roller skating center. He has just received the monthly bank statement at June 30 from Citizens National Bank, and the statement shows an ending balance of $750. Use the data from exercise above to make the journal entries tha..
Design a compensation package related to your dream job : Create a job description and specifications for your dream job. Design a compensation and benefits package related to your dream job.

Reviews

Write a Review

 

Auditing Questions & Answers

  What sections of the act are bought into question

What is the issue in this situation and what sections of the Act are bought into question? Is there something that should be in place with the audit firm?

  Database system-effective internal control system

Discuss how database systems along with their characteristics (such as referential integrity -- but there are others) can help companies have an effective internal control system. Gives the three database characteristics and explains them.

  Automated payroll-regular auditing

Which of these two controls would cost less and prove more effective? Is there a different, more cost effective strategy we should consider?

  Identify a current controversy relating to independence

You are required to identify a current controversy relating to Auditors' Independence.

  Which time he terminated his employment with jernigan

Behalf of the management to the board of director on the effectiveness of the new system - effectiveness and efficiency of the system - plans to establish a separate department that will provide internal audit service to his audit clients.

  Operational reviewer attributes

The operational reviewer typically has multiple personal attributes that make them and mold them into operational reviewer. List and describe at least three and tell why they are positive attributes for the operational reviewer.

  Reforms to enhance audit quality

Empowering ASIC to issue an audit deficiency report in relation to an individual audit firm if it identifies an audit deficiency in the auditor's quality control system or the conduct of an audit that may be detrimental to the overall quality of the ..

  What types of fraudulent activity occurred

Research and identify at least two companies that have experienced fraudulent activity and identify at least three credible sources that you will use to gather your information.

  Discussion of audit opinion and management sign-off on the

By looking to Pall corporation rations  (debt to total assets, current ratio, current assets to total assets, profit margin, and return on assets)-- (what conclusions would you as an auditor make and what additional testing would you do as a result)?

  Calculate balances for accounts receivable in ledgers

Presented below is information related to Kienholz Company for its first month of operations. Identify the balances that appear in the accounts receivable subsidiary ledger and the accounts receivable balance that appears in the general ledger at ..

  Make paraphrase for csemix report

Objective of the audit is to assess the clinical coding in Curtin Hospital and evaluate the quality and the accuracy of the coding data;

  Explain how the control would work

what sort of prevent control could be use to deal with the problem face by amy? explain how the control would work?

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