Compares the date of deposit according to the books

Assignment Help Auditing
Reference no: EM13884263

1.Explain why an auditor compares the date of deposit according to the books to the date of disbursement according to the books on an interbank transfer schedule to detect kiting.

Reference no: EM13884263

Questions Cloud

Concentrate on the separation of the water and aniline : Design a decanter for this duty, for a feed rate of 3500 kg/h. Concentrate on the separation of the water and aniline. The densities of water-aniline solutions are given in Appendix F, Problem F.8, available in the online material at booksite.Else..
Describe how the concept of multifactorial etiology relates : Describe how the concept of multifactorial etiology relates to the natural history of disease and the different levels of prevention
Relationships among the initial assessed control risk : Give one example in which the conclusions reached about internal controls in cash disbursements will affect the tests of cash balances.
Result in a loss of production : The estimated cost of the pipes, per unit length is: schedule 40 carbon steel $5, schedule 80 carbon steel $8.30, stainless steel (304) schedule 40 $24.80. Installation and fittings for all the materials adds $16.5 per unit length. The downtime re..
Compares the date of deposit according to the books : 1.Explain why an auditor compares the date of deposit according to the books to the date of disbursement according to the books on an interbank transfer schedule to detect kiting.
Find the p-value of a two-tailed test : Find the p-value of a two-tailed test if x (x bar) =51.8 and s =10.4. P= ___ (rd. to 4 dec. places). Find the p-value of an upper-tailed test if x (x bar) = 51.8 and s= 10.4. P= ___ (rd. to 4 dec. places)
What factors led to the mortgage default crisis? : What factors led to the mortgage default crisis?
Start on the completion of construction : Construction will take two years, and the capital will be paid in two equal increments, at the end of the first and second years. The savings (income) can be taken as paid at the end of each year. Production will start on the completion of constru..
Fair value estimates make the audit : 1.Briefly explain why accounting standards related to fair value estimates make the audit of financial instruments more complex.

Reviews

Write a Review

Auditing Questions & Answers

  Mesa bank lock box services

The Mesa Bank is offering your company the use of their lockbox services. They estimate that you can reduce your average mail time by 2 days and they can save you a combined clearing and processing time of 1.5 days by putting the checks into the c..

  Prepare an end-of-year audit

trade between a buyer and a seller are free on board (FOB) destination. What document gives evidence that a liability exists and can be unrecorded?

  Concise statement of the issues and consequences

A memo question will be assigned during lecture or tutorial and a written description of that question will be posted to the assignment section of Blackboard. A total of four to five Memos will be assigned during the term.

  Amortization and interest schedule reflects issuance

The subsequent amortization and interest schedule reflects issuance of 10-year bonds by Capulet Corporation on 1 st January, 2006, and the following interest payments and charges.

  Tyco financial scandal

Discuss how internal control problems may have contributed to the failure of Tyco International. Describe these problems and their cause. What would you have done differently, if you had been in charge (be specific)?

  Fifo cost accounting

In November 2013, Lamb Co. computed its equivalent unit costs under FIFO process costing as follows: What percentage complete were the beginning inventory units as to direct material? Packaging? Direct labor/ Overhead?

  Typical components of audit program

What are the typical general components of an audit program? What purpose do these components serve? Which component is most important? Explain why.

  Internal control and assessed level of control risk

Explain the reasons an auditor may assess control risk at the maximum level for one or more assertions embodied in an account balance and what must an auditor do to support assessing control risk at less than the maximum level when the auditor has..

  Reimbursement rates-contribution margin

What are the expected rates of reimbursement for this time frame for each payer? What is your expected accounts receivable? What is the rate that you should charge for these services (using one charge rate for all payers)? Find the total charges for ..

  Describe six typical control activities

Explain the audit procedures that your firm should carry out to obtain assurance about the amount of the provision if any that should be included in the company's financial statements, in connection with the ex-employee's ..

  Design a monitoring activity

What are monitoring activities and design a monitoring activity that would achieve this assurance objective.

  Partial strategic audit - harley davidson

Explain the strategic management process within the global environment. Conduct various environmental analyses as they relate to an organization. Formulate strategies and potential strategic alternatives for different situations. Use effective commun..

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