Auditors study of internal control for a nonpublic entity

Assignment Help Financial Accounting
Reference no: EM13748598

The primary purpose of the auditors' study of internal control for a nonpublic entity is

A. to report on internal control as required by Auditing Standard No. 5.

B. to provide constructive suggestions to the client for improving its internal control.

C. to determine the nature, timing, and extent of further audit procedures.

D. to identify and detect fraud and irregularities perpetrated by client personnel.

Reference no: EM13748598

Questions Cloud

Calculate net present value-internal rate of return : The President has requested that you and your staff analyze the feasibility of acquiring this supplier. Based on the following information, calculate net present value (NPV), internal rate of return (IRR), and payback for the investment opportunit..
Included in the auditors standard report : Which of the following information would not be included in the auditors' standard report?
What did great transformation mean economically and socially : What did Great transformation mean economically, socially, and nationally? Was the nation growing together or apart?
Describe the impact of individual behavior on business : What do managers need to do differently when communicating with employees from the country you selected as opposed to U.S. employees
Auditors study of internal control for a nonpublic entity : The primary purpose of the auditors' study of internal control for a nonpublic entity is
Risks that google must include in their risk mitigation plan : Then research at least two (2) domestic and three (3) international locations and predict five (5) risks that Google must include in their risk mitigation plans that are different depending on the geographical location of the data centers
Conduct of the audit in accordance with PCAOB standards : Which of the following paragraphs references the conduct of the audit in accordance with PCAOB standards?
Policies and procedures are operating effectively : Which element of a system of quality control strives to provide the firm with reasonable assurance that its policies and procedures are operating effectively?
The highest level of assurance in an attestation engagement : What type of evidence would provide the highest level of assurance in an attestation engagement?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Question 1how does goodwill arise and come to be reported

question 1how does goodwill arise and come to be reported on the balance sheet? how is the amount calculated? what does

  Suppose research in motion invested 834 million to expand

suppose research in motion invested 834 million to expand its manufacturing capacity. consider that these assets have a

  Discuss the significance of alternative forms

In a report for the attention of James Brennan discuss the significance of alternative forms of finance available to him and the importance of the nature of the business entity in the process. Your report should relate to aspects considered in the..

  Flexible budget for manufacturing overhead

Prepare a monthly manufacturing overhead flexible budget for 2014 for the expected range of activity, using increments of 1,300 direct labor hours

  Calculate the annual rate of return

Mecha Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $142,300 and will increase annual expenses by $72,988 including depreciation. The oil well will cost $492,800 and will hav..

  The gross method and the net method

Garth purchased merchandise inventory costing $24,000 with credit terms of 2/10, net 30. Eight days after the purchase, Garth paid one-half of the outstanding obligation. The remaining amount was paid 30 days after the date of purchase.

  Principles of financial accounting

Articulation of financial statements.

  What are differences in terms of limitations due to basis

S corps and partnerships are both pass through entities, but the pass through rules are NOT identical. What are the differences in terms of limitations due to basis?

  How is the gross profit rate evaluated in this problemon

how is the gross profit rate evaluated in this problem?on 1st january 2012 patrick company purchased 100 of the

  Prepare a budget report outlining the costs

This budget's focus is solely on attending college; do not include personal items in the budget. Your budget must include tuition, books, supplies, fees, food, housing, and all costs associated with travel to and from college.

  Prepare a general ledger using t accounts

Prepare a general ledger using T accounts. Enter the opening balances in the ledger accounts as of July 1 - Journalize the transactions, including explanations and Post to the ledger accounts

  Component of the equity section of the balance sheet

What else is a component of the Equity Section of the Balance Sheet? Please explain to the class how the retained earning comes about. You are correct. It is not contributed. How is Treasury Stock shown?

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