Did they perform all of the steps associated with the audit

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Reference no: EM133416962

Question 1: You have concerns about the adequacy of the substantive audit work done by the engagement team. Review in detail the cash confirmation and bank reconciliation substantive audit program steps (C.3 and C.4) and the associated audit work papers (C.3.1 to C.4.8). Identify any of the following issues:a. Did they perform all of the steps associated with the audit program?

Question 2: Cook Security Systems has a $37,500 line of credit, which charges an annual percentage rate of prime rate plus 4%. The starting balance on October 1 was $9,900. On October 4 they made a payment of $1,600. On October 13 the business borrowed $2,500, and on October 19 they borrowed $4,200. If the current prime rate is 8%, what is the new balance (in $)? (Round your answer to the nearest cent.

Reference no: EM133416962

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