Questions from Auditing and Assurance

Q: List several audit procedures that the auditor can use to determine whether

List several audit procedures that the auditor can use to determine whether payroll transactions are recorded at the proper amounts.

Q: Explain how audit sampling can be used to test the payroll and

Explain how audit sampling can be used to test the payroll and personnel cycle.

Q: Items 1 through 8 are selected questions typically found in internal control

Items 1 through 8 are selected questions typically found in internal control questionnaires used by auditors to obtain an understanding of internal control in the payroll and personnel cycle. In using...

Q: Following are some of the tests of controls and substantive tests of

Following are some of the tests of controls and substantive tests of transactions procedures often performed in the payroll and personnel cycle. (Each procedure is to be done on a sample basis.) 1. Re...

Q: The following misstatements are included in the accounting records of Lathen Manufacturing

The following misstatements are included in the accounting records of Lathen Manufacturing Company: 1. Joe Block and Frank Demery take turns “punching in” for each other every few days. The absent emp...

Q: The following audit procedures are typical of those found in auditing the

The following audit procedures are typical of those found in auditing the payroll and personnel cycle: 1. Scan journals for all periods for unusual transactions to determine whether they are recorded...

Q: The Securities and Exchange Commission (SEC) found that Centerpulse Ltd

The Securities and Exchange Commission (SEC) found that Centerpulse Ltd., a publicly traded company based in Switzerland, fraudulently misstated its 2002 third and fourth quarter financial statements...

Q: In comparing total payroll tax expense with that of the preceding year

In comparing total payroll tax expense with that of the preceding year, Merlin Brendin, CPA, observed a significant increase, even though the total number of employees increased only from 175 to 185....

Q: What is meant by a voucher? Explain how its use can

What is meant by a voucher? Explain how its use can improve an organization’s internal controls.

Q: You are assessing internal control in the audit of the payroll and

You are assessing internal control in the audit of the payroll and personnel cycle for Rogers Products Company, a manufacturing company specializing in assembling computer parts. Rogers employs approx...