Questions from Auditing and Assurance

Q: C. Marsh, CPA, is the independent auditor for Compufast

C. Marsh, CPA, is the independent auditor for Compufast Corporation, which sells personal computers, peripheral equipment (printers, data storage), and a wide variety of programs for business and game...

Q: The following case is designed like the ones in the chapter

The following case is designed like the ones in the chapter. Your assignment is to write the audit approach portion of the cases organized around these sections: Objective. Express the objective in t...

Q: Maine Construction builds office buildings. The buildings generally cost between $

Maine Construction builds office buildings. The buildings generally cost between $5 million and $8 million to build, and the plumbing can cost between $300,000 and $600,000 depending on the building r...

Q: This case is designed like the ones in the chapter. Your

This case is designed like the ones in the chapter. Your assignment is to write the “audit approach” portion of the case organized around these sections: Objective. Express the objective in terms of t...

Q: Bart’s Company has prepared the PP&E and depreciation schedule shown

Bart’s Company has prepared the PP&E and depreciation schedule shown in Exhibit 8.50.1. The following information is available. (Assume the beginning balance has been...

Q: This question contains three items that are management assertions about property and

This question contains three items that are management assertions about property and equipment. Following them are several substantive procedures for obtaining evidence about management’s assertions....

Q: Following are the four assertions about account balances that can be applied

Following are the four assertions about account balances that can be applied to the audit of a company’s PP&E, including assets the company has constructed itself: existence, rights and obligations, c...

Q: A client has a large and active investment portfolio that is kept

A client has a large and active investment portfolio that is kept in a bank safe deposit box. If the auditors are unable to count securities at the balance sheet date, they most likely will a. Request...

Q: Each of the following tests of controls could be performed during the

Each of the following tests of controls could be performed during the audit of the controls in the production cycle. Required: For each procedure, identify (a) the internal control activity (strength...

Q: You are supervising the audit fieldwork of Sparta Springs Company and need

You are supervising the audit fieldwork of Sparta Springs Company and need certain information from Sparta’s equipment records, which are maintained on a computer file. The particular information is (...