Which the auditor responsibility consists of

Assignment Help Accounting Basics
Reference no: EM132716298

Problem 1: When it comes to fraud, the auditor's responsibility consists of:

Multiple Choice

Option 1: detecting any type of fraud that occurred during the reporting period.

Option 2: none of the above. The auditor is not responsible for detecting fraud.

Option 3: detecting fraud only if it is above the planning materiality level.

Option 4: making inquiries with management about fraud and considering fraud risks.

Reference no: EM132716298

Questions Cloud

Which gives the least indication of fraudulent activity : Which gives the least indication of fraudulent activity? The bank reconciliation has no outstanding cheques or deposits older than 15 days.
Explain existence of religious fundamentalism in us : Which theoretical perspective would be best to explain the existence of religious fundamentalism in the US? I have Weber, Marx, Durkheim, Geertz
Most important social or political changes : What are the three most important social or political changes that have taken place during your lifetime? Do you oppose or support those changes?
Introduction of selected leadership book : Describe the main theories and principles (at least five) presented in the book
Which the auditor responsibility consists of : When it comes to fraud, the auditor's responsibility consists of? making inquiries with management about fraud and considering fraud risks.
Contrast male single parents to female single parents : Compare and contrast male single parents to female single parents. What are there likes and differences? please cite your work?
Only two of the three votes are required to pass policy : Only two of the three votes are required to pass this policy. In this situation you are one of the two agreeing to a dress code.
Explain socialization and cultural influences : Describe an example of a behavior that is impacted by socialization and cultural influences.
How omission bias or ambiguity aversion contributes : This week, give an example of each of the following:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Cash basis taxpayers

On January 5, 2010, Jane purchased a bond paying interest at 6% for $30,000. On September 30, 2010, she gave the bond to Tim. The bond pays $1,800 interest on December 31. Jane and Tim are cash basis taxpayers. When Tim collects the interest in De..

  How much need to invest every month today

How much do I need to invest every month today in order to have a $1 million retirement fund in 35 years? Assume the interest rate of 5%, compounded daily

  Compute the underapplied or overapplied overhead

The actual total overhead cost for 2016 is $440,000, and the actual total machine hours for 2016 are 57,000. Compute the underapplied or overapplied overhead

  Make a production budget for February and March

There were 15,000 units of finished goods in inventory at the beginning of January. Make a production budget (in Units) for February, March, and April

  Determine the monthly breakeven in units or dollar sales

Determine the monthly breakeven in units or dollar sales, Longiotti Corporation produces and sells a single product

  How does workflow documentation influence an audit

How does workflow documentation influence an audit? Why is it more beneficial to audit 100% of the data population than using a sample data? Do you have any experience with data flow diagrams?

  How much income must he report for tax purposes

The sole shareholder of Silver, has a basis of $200,000 in his stock. If Silver distributes $900,000 to Sam on December 31, how much income must he report for tax purposes?

  Signed a contract with a good customer to ship

Your company has signed a contract with a good customer to ship the customer an order no later than 20 days from now. The contract indicates that the customer will accept the order even if it is late, but instead of paying the full price of $10,00..

  The hyde corporation purchased bonds with a face value

On January 1, 2010, the Hyde Corporation purchased bonds with a face value of $300,000 for $308,373.53.

  Journalize and post adjusting and closing entries

Build a trial balance in the first two columns of the worksheet and complete the worksheet using the One month's rent had expired adjustment data

  The separate databases and records of different company

Customer information is buried deep in the separate databases and records of different company departments. To overcome such problems, many companies are now turning to ________ to manage detailed information about individual customers.

  Prepare any journal entries for depreciation of equipment

Rohan Company purchased equipment in January 2008 for $8,000,000. Prepare any journal entries for the depreciation of the equipment at December 31, 2011.

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