Should the auditor comply with the requests

Assignment Help Accounting Basics
Reference no: EM132720354

Question: The auditor has always received good cooperation from a particular client and has no reason to question management's integrity. The controller has requested that the auditor inform her about which warehouse locations that the auditor will visit during the upcoming inventory count. In addition, the controller has requested copies of the auditor's observations on the physical inventory because she wants to make sure that a good inventory was taken. Should the auditor comply with these requests? State your rationale, including a discussion of professional skepticism.

Reference no: EM132720354

Questions Cloud

Determine the dollar amounts that towson will report : Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 70,000 shares of $3 par value common stock at a price of $35.
Prepare journal entries required for dividend declarations : Prepare the journal entries required for the dividend declaration and payment, assuming that they occur simultaneously. (Credit account titles are automatically
How will it allocate book and tax gain between the partners : Assume the tax basis of the fishing boat was $140,000 as above. Further assume that the partnership used the traditional method to allocate tax depreciation.
What is the total loss on realization : Total assets amounted to P2,392,500, including P262,500 cash, and liabilities totaled P750,000. The partnership was liquidated on December 31, 2020.
Should the auditor comply with the requests : The auditor has always received good cooperation from a particular client and has no reason to question management's integrity.
Determine the amount of goodwill arising out of acquisition : The P Ltd acquires all issued capital of the S Ltd for a consideration of $1,000,000 cash and 800,000 shares each valued at $1.50. The summary statement of the.
Calculate the gain or loss on the sale at the end of year : Tullahoma Company purchased equipment for $27,500. It depreciated the equipment over a five year life by the double-declining-balance.
Prepare journal entries for issuer corporation : On Jan. 1, 2020, Issuer Corporation issued $8 million of 9%, 10-year convertible bonds priced to yield 10% (current market rate). The bonds pay interest on.
What is the math behind the given equation : What is the accounts receivable turnover using the following data? Accounts receivable, January 1 - $36,000; accounts receivable.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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