What does imply for detection risk

Assignment Help Accounting Basics
Reference no: EM132784097

Problem 1: Distinguish between a substantive approach and a combined approach in auditing a financial statement assertion.

Problem 2: If the auditor assesses control risk as high for a transaction-related audit objective, what does that imply for detection risk and the level of substantive testing?

Reference no: EM132784097

Questions Cloud

What is the depreciation expense for crane company : What is the depreciation expense for 2020? The truck is estimated to have a salvage value of $4500 and a useful life of 122000 miles.
Identify two interviewer pitfalls : Identify two interviewer pitfalls and provide some steps that interviewers can take to avoid these pitfalls.
What kind of lease is this to Krause Company : Rental payments of $266,000 are payable at the beginning of each six-month period. What kind of lease is this to Krause Company
How the understanding will make you more effective : Covey's (1990, 2004) discussion of the three character traits essential to the Win/Win paradigm has a number of ties to what we have read so far in Leadership.
What does imply for detection risk : If the auditor assesses control risk as high for a transaction-related audit objective, what does imply for detection risk and the level of substantive test
What was the cause of death for the qing dynasty : This week (March 9-13) our class is exploring the causes behind the collapse and end of the Qing Dynasty. Our focus is also on the failed development.
Major catergories of stress-related factors : What are three major catergories of stress-related factors? Please provided a thorough explanation.
What is the amount of gross profit earned by Love Co : Kind Co. paid the invoice within the discount period. What is the amount of gross profit earned by Love Co. on the above transactions
What is meant by significant deficiencies : What is meant by "significant deficiencies" as they relate to internal control. What should the auditor do when he or she has discovered significant deficiency

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