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Auditor Independence
An auditor must not only appear to be independent, but must also be independent in fact. Research the concept of "auditor's independence" using your online library resources, and the Internet. Respond to the following:
• Explain the concept of "auditor's independence" as it applies to third-party reliance on financial statements.• Provide a specific example of how an auditor may be independent in fact, but not appear to be independent.• There are several rules that dictate independence. Explain what is meant by independence and independent mental attitude.
Seven different types of evidence were discussed. The following questions concern the reliability (competence) of that evidence: Explain why confirmations are normally more reliable evidence than inquiries of the client.
an auditor is required to obtain a sufficient understanding of each of the components of an entitys system of internal
Explain the impact of the IML program on your audit strategy for the revenue cycle of CC and briefly explain eight deficiencies you note in Jeff's attribute sampling application.
The following are common tests of details of balances or analytical procedures for the audit of accounts receivable:
You will then be required to audit cases available on FLECS Blackboard or 20 hospital records.
Since 4X Heavy Ltd is a new client of KCA outline the steps that you would initially undertake as part of taking on this client.
Define actual and perceived independence, and explain the importance of each. For each of the above independent situations list any professional standards and regulatory requirements breached and discusspossible alternative courses of action the aud..
Beeline Manufacturing produces two types of industrial ventilation machines: heavy-duty and standard. The assignment basis for overhead costs has always been direct labor hours. For 2013, Beeline compiled the following data for the two products:
the following is an except from a conversation between two sales clerks craig rice and jill allen. craig and jill are
Explain why an analysis of the company's control environment is important to planning the integrated audit. The company claims that it has a strong control environment, including a culture of high integrity and ethics.
Prepare a pension worksheet for the pension plan in 2012 and prepare any journal entries related to the pension plan that would be needed at December 31, 2012.
Explain your proposed approach for conducting research necessary to develop quality deliverables and explain how the information gleaned will support your career development in accounting.
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