Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question:
Part A
(i) List and define five audit procedures for obtaining audit evidence.
(ii) Why is it necessary to obtain corroborating evidence for inquiry and observation?
(iii) What is the difference between test of transactions and tests of balances?
Part B
The auditor finds it necessary to rely on audit evidence that is persuasive rather than conclusive and will often seek audit evidence from different sources or of a different nature to support the same assertion. The reliability of audit evidence is not only important in determining sufficiency (quantity) of the information, but also the appropriateness (quality) of the information. Reliability of audit evidence is influenced by its source and its nature.
Required:-
(i) Define the following terms:
a. Reliability of evidence;b. Persuasiveness of evidence;c. Relevance of evidence
(ii) Why does an auditor prefer persuasive evidence as opposed to conclusive evidence?
Internal audit is an independent assessment function which is recognized by the management of an company for the review of its internal control system as a service to the company.
Amortization and Impairment Amortization - capitalized costs would be amortized to reflect the pattern whether the related economic benefits are identified. Once commercial
Q. Explain the Single Audit Act? Single Audit Act - Single Audit Act of 1984 and Single Audit Act Amendments of 1996 establish requirements for audits of states, non-profit org
Beneficial Ownership - Audit Process We have to examine documents of title as e.g. title motor vehicles, deeds and log books. Whether there are no implied ownership can suffi
General phases of control evaluation are: Phase 1: Understand and document • Understand the client's internal control • Document the understanding of internal control o
Case Study: Hide-It (HI), a family-owned business based in Tombstone, Arizona builds custom homes with special features, such as hidden rooms and hidden wall safes. Hide-It has
project report on absorption of overhead and its different method
Standard Defines Development and Research The standard defines development and research as follows: (a) Research - planned and original investigation undertaken along with
General advantages and disadvantages of joint audits Advantages: All work and fees are welcome to audit firms. An opportunity to closely inspect the auditing methods
problems associated with intangible asset audit
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd