What sort of ongoing training should take place

Reference no: EM13123577

1. What are some potential reasons why we might decide to decline an audit engagement?

2. What are some elements or factors that might increase our risk of fraud on a particular engagement?

3. What are some of the most common costs incurred associated with an audit engagement? Which costs could be better controlled? Why?

4. Let's examine the most common causes of having inadequate professional judgment. What sort of education and/or experience should the auditors have? What sort of ongoing training should take place?

5.Who generally performs this assessment? How much (if any) can the external auditors rely on this work?

Reference no: EM13123577

Questions Cloud

What is its vapour pressure : A liquid has a H vaporization of 35.5kJ/mol and a boiling point 0f 122 degrees celcius at 1.00 atm.What is its vapour pressure at 109 degrees celcius.

Parabola and tangent lines : The parabola y= x^2+4 has two tangents which pass through the point (0,-2). One is tangent to the parabola at (a, a^2+4) and the other at (-a, a^2+4) where a is a certain positive number. The question is a=?

Actual revenues reported in the income statement : Assume you are reviewing a company's annual report. In addition to actual revenues reported in the income statement, what other information disclosed would give you help in estimating this company's future revenues?

Find what is the total cost : How many of each should you purchase to minimize the total cost? (b) What is the total cost?

What sort of ongoing training should take place : What are some of the most common costs incurred associated with an audit engagement? Which costs could be better controlled? Why?

Application of rolle theorem-intercepts : If the graph of a function has three x intercepts, then it must have at least two points at whch its tangent line is horizontal. If f'(x) = 0 for all x in the domain of f, then f is a constant function.

Find out the price of the bonds : he market rate of interest 12%. The interest is paid on June 30 and December 31. Find out the price of the bonds at January 1, 2010. Prepare the journal entry to record the issuance by Carla Industries on Jan 1, 2010

Use histogram to find how many points are out of control : Use the histogram to determine how many points are out of control according to the upper control limit and lower control limit.

What would be the entry using ifrs : Kramer has two primary bank accounts. At December 31, 2012, one of these accounts had bank overdrafts that caused the balance to have a negative balance of 100,000. The other bank account had a balance greater than 500,000. Kramer recorded the 100..

User Account

All Pages