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List and define four assertions regarding classes of transactions and events for the period under audit.
For each of the given specific audit procedures illustrated below, point out the type of audit procedures it represents:
Consider each of these latest positions and describe the implications of their duties on the internal control system. Moreover, describe what problems could occur if these positions are made.
The auditor must consider materiality and audit risk when planning and performing an examination of the financial statements in accordance with auditing standards.
Write a letter to the management of DLC Ltd. describing the objectives, characteristics and responsibilities of internal and external audit.
Explain how the objectivity of the external auditor might be threatened or appear to be threatened:
List tests of controls the auditor of CWL would perform to evaluate if the controls are operating efficiently.
Explain four areas in which the internal audit department at UTM Hotels might carry out reviews of system or the operational performance.
What is the auditor’s right under the Companies Act.
Explain tests of control and list the test of control which the auditor would perform on this system.
In order to draw reasonable conclusions, an auditor is required to identify and use audit procedures to gather audit evidence. You are required identify and to write short notes on the different typ
List and explain the provisions of INTOSAI GOV 9140 on Internal Audit Independence in the Public Sector. Explain the advantages and disadvantages of each of the four methods of evidence gathering list
Hibiscus Ltd is a company that provides call centre services for a variety of organisations. It operates in a medium sized city in which Alamanda Auditors is the largest audit firm.
Explain the objectives of independent audit. List and define three assertions about classes of transactions and two assertions about account balances for period under audit.
Explain the powers and duties of the Public Accounts Committee as set out in standing orders of the Assembly.
In brief explain what are relevant, sufficient and reliable audit evidences. List all the three sources of audit evidence.
Describe, with illustrations, the concept of materiality. Explain how materiality affects the audit work performed by auditors.
Internal control systems are designed, amongst other things, to prevent error and misappropriation.
The mandate of the Supreme Audit Institution (SAI) or other laws normally prescribes which entities are subject to audit and generally include the whole government administration.
Briefly explain the meaning of a component and a component auditor. State four conditions or events that may indicate risks of material misstatement of the group financial statements.
Describe the nature and effect of each of the three characteristics listed above on the audit of small entities. Discuss the arguments for and against of having an audit of small entities.
Describe the advantage and limitation of auditing.What is an audit report? State its contents and importance. Also describe the uses of report writing.
Summarize individual company Annual Report data and information to support your findings from one company in the industry (technology industry)for three pages (These need not be fraud cases).
Describe the quality of the following kinds of audit evidence, giving two examples of each form of evidence.
Explain four areas in which internal audit department at UTM Hotels may perform reviews of system or operational performance.