Questions from Auditing and Assurance

Q: The following questions concern the auditor's responses to the possibility of fraud

The following questions concern the auditor's responses to the possibility of fraud. a. When fraud risk factors are identified during an audit the auditor's documentation should include b. If an indep...

Q: Appliances Repair and Service Company bills all customers rather than collecting in

Appliances Repair and Service Company bills all customers rather than collecting in cash when services are provided. All mail is opened by Tom Gyders, treasurer. Gyders, a CPA, is the most qualified p...

Q: Kent, CPA, is the engagement partner on the financial statement

Kent, CPA, is the engagement partner on the financial statement audit of Super Computer Services Co. (SCS) for the year ended April 30, 2011. On May 6, 2011, Smith, the senior auditor assigned to the...

Q: The Kowal Manufacturing Company employs about 50 production workers and has the

The Kowal Manufacturing Company employs about 50 production workers and has the following payroll procedures. The factory foreman interviews applicants and on the basis of the interview either hires o...

Q: Each year near the balance sheet date, when the president of

Each year near the balance sheet date, when the president of Bargon Construction, Inc. takes a 3-week vacation to Hawaii, she signs several checks to pay major bills during the period she is absent. J...

Q: The information systems (IS) department at Jacobsons Inc. consists

The information systems (IS) department at Jacobsons Inc. consists of eight employees, including the IS Manager, Melinda Cullen. Melinda is responsible for the day-to-day oversight of the IS function...

Q: Explain how client internal controls can be improved through the proper installation

Explain how client internal controls can be improved through the proper installation of IT.

Q: Identify risks for accounting systems that rely heavily on IT functions.

Identify risks for accounting systems that rely heavily on IT functions.

Q: Define fraudulent financial reporting and give two examples that illustrate fraudulent financial

Define fraudulent financial reporting and give two examples that illustrate fraudulent financial reporting.

Q: SAS No. 99 requires auditors to conduct a brainstorming session to

SAS No. 99 requires auditors to conduct a brainstorming session to discuss the potential for fraud and how the auditor might respond to the risk of fraud. However, the standard provides limited guidan...