Questions from Auditing and Assurance

Q: What duties are performed within the inventory management, raw material stores

What duties are performed within the inventory management, raw material stores, and cost-accounting functions?

Q: List the key segregation of duties in the inventory management process.

List the key segregation of duties in the inventory management process. What errors or fraud can occur if such segregation of duties is not present?

Q: List the inherent risk factors that affect the inventory management process.

List the inherent risk factors that affect the inventory management process.

Q: List the three major steps in setting control risk in the inventory

List the three major steps in setting control risk in the inventory management process.

Q: List three substantive analytical procedures that can test the fairness of inventory

List three substantive analytical procedures that can test the fairness of inventory and related accounts.

Q: What control activities can an entity use to prevent unauthorized inventory production

What control activities can an entity use to prevent unauthorized inventory production?

Q: In addition to policies and processes around payroll transactions, what other

In addition to policies and processes around payroll transactions, what other policies and processes are involved in the human resource management process?

Q: How is the sampling unit defined when monetary-unit sampling is

How is the sampling unit defined when monetary-unit sampling is used for statistical sampling? How is the sampling unit defined when classical variables sampling is used?

Q: In understanding the entity and its environment, the auditor gathers knowledge

In understanding the entity and its environment, the auditor gathers knowledge about which categories of information?

Q: You recently attended your five-year college reunion. At the

You recently attended your five-year college reunion. At the main reception, you encountered an old friend, Dashawn Beagle, who recently graduated from law school and is now practicing with a large la...