What is the most appropriate response to the foreign

Assignment Help Accounting Basics

Reference no: EM133360205

You are the chief audit executive of a parent organization that has foreign subsidiaries. Independent external audits performed for the parent are not conducted by the same firm that conducts the foreign subsidiary audits. Because the internal audit activity occasionally provides direct assistance to both external firms, you have copies of audit programs and selected working papers produced by each firm.

Refer to the information preceding question3. The foreign subsidiary's external audit firm wants to reply on an audit of a function at the parent organization. The audit was conducted by the internal audit activity. To place reliance on the work performed, the foreign subsidiary's auditors have requested copies of the working papers. What is the most appropriate response to the foreign subsidiary's auditors?

Reference no: EM133360205

Questions Cloud

Which research design would be the best to use to test : Which research design would be the best to use to test the effectiveness of soap and water or alcohol based rubs in preventing nosocomial infections and why?

Describe in detail the controls over personnel and payroll : Describe in detail the controls over personnel and payroll, fixed assets, or long-term debt. Only post on one of the three topics given.

What are crocs company revenue disclosures : What are Croc's (CROX) company Revenue disclosures and areas of concerns for auditors (Critical Audit Matters) Pros and Cons, how are they or aren't they good

What type of sampling method is used : How will the sample be selected? (Number and criteria for inclusion and description of place in which data will be collected) What type of sampling method

What is the most appropriate response to the foreign : What is the most appropriate response to the foreign subsidiarys auditors - You are the chief audit executive of a parent organization that has foreign

Prepare the journal entries to record the mortgage loan : Prepare the journal entries to record the mortgage loan and the first two payments. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles

How a budget aligns to an organization strategic plan : Explain the purpose of the following strategic plan elements: Mission statement Goals and objectives Strategies Resources needed Key assumptions Evaluate

Describe ponzi scheme suspect organizations balance sheet : Describe the Ponzi scheme suspect organization's Balance Sheet and revenue in Profit and Loss account as compared to an honest business entity.

What the tour can offer them as visitors : What would your tour plan and itinerary for this group be like keeping in mind their potential needs and what the tour can offer them as visitors.

User Account

All Pages