User Account

All Pages

What procedures auditor use to gather additional evidence

Assignment Help Auditing
Reference no: EM13886682

You are auditing FloorMart, a retailer with 200 stores around the country. It has two basic sizes of stores-minimarts with 3,000 square feet and maximarts with 7,500 square feet. Both types of stores carry the same types of products. The client has pro- vided an Excel file with the square feet, sales, and inventory at each store. Access the textbook's resources on the Cengage Web site. The file is labeled "Floormat Data."

a. Using either Excel or ACL, identify the stores for which sales appear to be out of line with the other stores and require additional evidence.

b. What procedures would the auditor use to gather the additional evidence?

Reference no: EM13886682

Questions Cloud

What is equilibrium wage and employment level : In a particular industry, labor supply is Es = 10 + w and labor demand is Ed = 40 – 4w, where E is the level of employment and w is the hourly wage. What is the equilibrium wage and the employment level if the labor market is competitive? What is the..
Description of the simple regression : Review Chapter 8 of the Field text for a description of the simple regression and an example of conducting a simple regression using PASW. Review Chapter 5 from the APA manual, "Displaying Results."
What is the acceleration of the sled : A very smart three year old child is given a wagon for her birthday. She refuses to use it. "After all," she says, "Newton's third law says that no matter how hard I pull, the wagon will exert an equal but opposite force on me. So I will never be ..
What is market-clearing wage if immigration is not allowed : Assume that labor demand for low-skilled workers in the United States is: w = 24 – 0.1E where E is the number of workers (in millions) and w is the hourly wage. Assume there are currently 120 million domestic U.S. low-skilled workers who supply labor..
What procedures auditor use to gather additional evidence : Using either Excel or ACL, identify the stores for which sales appear to be out of line with the other stores and require additional evidence. What procedures would the auditor use to gather the additional evidence?
Description of logistic regression and the odds ratio : To prepare for this Application: Description of logistic regression and the odds ratio. Review the media resources demonstrating the odds ratio
Identify the key audit deficiencies related to assertions : Identify the key audit deficiencies related to accounts and assertions in the revenue cycle. For each identified deficiency, indicate the appropriate action that should have been taken by the auditor.
Regional economic integration and the consequent increase : Regional economic integration and the consequent increase in increased dependence on each other creates incentives for political cooperation between the neighboring states and reduces the potential for violent conflict.
Innovations are proven to pose no risks : Explain: Because it is better to be safe than sorry, ie to exhibit precaution, the government should ban adoption of technologies like genetically modified organisms and medicines like ebola treatments until such innovations are proven to pose no ris..

Reviews

Write a Review

Auditing Questions & Answers

  Starsky is an internal auditor

Starsky is an internal auditor and the lead on the company's fraud risk assessment

  Describe the possible inherent risks in the retail industry

List and describe the possible inherent risks in the retail industry. Determine which inherent risks may currently be considered critical. Determine which practices might address the inherent risk identified in'2' above.

  1assume you are consulting for a media conglomerate that is

1.assume you are consulting for a media conglomerate that is perplexed by the parting fates of blockbuster and

  Find the rate of change of the intake of food

Find the rate of change of the intake of food for a person 5 minutes into a meal, and interpret it. Verify that the rate at which food is consumed is zero 24 minutes after the meal starts.

  Sppose that you are audit senior in an accounting firm

suppose that you are audit senior in an accounting firm. your firm has recently won an audit for a company elders ltd.

  Discuss the factors which would influence

Briefly outline the requirements of the UK version of ISA 700/ 750/ 706 and discuss the factors which would influence you as the external auditor in forming an opinion on the financial statements of Home Retail Group plc for 2011.

  Major activities on statement of cash flows

In detail, Describe the three major activities the statement of cash flows reports. Cite examples of cash flows for each activity.

  The ceo of your company recently met with the external

the ceo of your company recently met with the external auditors to discuss the scope of the years audit. the auditors

  Question the final report that john wants you to prepare

question the final report that john wants you to prepare for him is for the audit client malos ojos limited mo who

  What should jimmy do

What should Jimmy do? Decide your response using the AAA ethical decision model.

  Accounting treatment-discontinued operations

Describe the accounting treatment for discontinued operations. How should an analyst treat discontinued operations?

  Explain why they require special attention

You have just been appointed as the auditor of Gritty Manufacturing Ltd and you are in the process of planning your first audit. Gritty manufactures security cameras and is a part of the electronics industry.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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