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Statistical sampling - Advantages A. It is defensible and scientific; B. It gives a precise mathematical statement for probabilities of to be correct; C. It is efficien
should your test for unrecorded liabilities be affected by the fact that a letter is obtained in which a responsible management official certifies that to the test of his knowledge
Method of corrercting evidence?
In previous times, the Kings used to hear their accountants narrate the accounts verbally. Though, as the complexity of the accounting function grew, require was felt to thoroughly
What document usually forms the basis of the audit team briefing?
main areas contained in a private audit
Financial Institutions and Banks - Audit Situations Financial Institutions Because of the recent collapse of many financial institutions, this is still a heavily regu
Objectivity - External Auditor Report Many accounting figures are subjective and contain substantial terms of subjective judgment. Many more business transactions have financ
Fortex Limited, the meat processing firm, was formed in 1985 from three smaller companies. In 1993, however, after a few years of spectacular growth, the company collapsed. a)
Advocates The statutory provision regulating the handling of client’s monies is covered in the advocate's act. Principle of the rules: To require a lawyer to keep
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