Reference no: EM131812542
In further preparation for your audit of the company your team selected, you decided to gather your team and discuss Audit Evidence and Documentation Standards for this audit. Your preparation included a review of evidence and documentation literature (Chapter 7). To properly prepare the staff that will be working with you, you decide to create a Cheat Sheet on Evidence and Documentation to be used in your presentation.
Prepare a "Cheat Sheet" that briefly describes Audit Evidence and Documentation Standards, which includes the following topics. Each topic should be 90 to 175 words:
Comparison of Audit, Scientific and Legal Evidence Standards.
Consideration of Sample Sizes and Methods (random, haphazard, monetary unit sample, judgmental) and how sampling affects evidence.
Relevance, Reliability and Sufficiency of Evidence.
Brief statement on the 80 types of audit evidence (physical examination, observation, confirmations, inquiry, recalculation, etc.).
Purpose, Ownership, Confidentiality and Retention of Documentation.
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Determine the conditional distribution
: A book has n typos. Two proofreaders, Prue and Frida, independently read the book. Prue catches each typo with probability p1 and misses it with probability.
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What is the probability that she was bribing the judges
: Corrupted by their power, the judges running the popular game show America's Next Top Mathematician have been taking bribes from many of the contestants.
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Describe a cultural practice that challenges your limits
: Describe a cultural practice that challenges your limits of tolerance and explain why.Support your Journal assignment with specific references to all resource.
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Tax deductibility of depreciation and interest expense check
: Prepare a 2016 income statement for Nike Inc. based on the following information: Nike had sales of $620,000. Cost of goods sold, administrative and selling
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Comparison of audit and scientific
: Comparison of Audit, Scientific and Legal Evidence Standards
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How does unit test reporting fit within the sdlc
: Discuss what test reports are, how and where they are used. How does unit test reporting fit within the SDLC?
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Determining amounts to be paid on invoices
: Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received
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Accrue the estimated warranty cost
: Prepare the adjusting entry at December 31 to accrue the estimated warranty cost.
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How many hours of television viewing must a household have
: Television viewing reached a new high when the Nielsen Company reported a mean daily viewing time of 8.35 hours per household (USA Today, November 11, 2009).
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