Questions from Auditing and Assurance

Q: Should the auditors examine public records to determine the legal title of

Should the auditors examine public records to determine the legal title of property apparently owned by the client?

Q: In response to threats from a terrorist organization, Technology International installed

In response to threats from a terrorist organization, Technology International installed protective measures consisting of chainlink fences, concrete road barriers, electronic gates, and underground p...

Q: Should the independent auditors observe a physical inventory of property and equipment

Should the independent auditors observe a physical inventory of property and equipment in every audit engagement? Discuss.

Q: Hamlin Metals Company has sales representatives covering several states and provides automobiles

Hamlin Metals Company has sales representatives covering several states and provides automobiles for them and for its executives. Describe any substantive procedures you would consider appropriate for...

Q: What is a principal objective of the auditors in analyzing a Maintenance

What is a principal objective of the auditors in analyzing a Maintenance and Repairs expense account?

Q: Gibson Manufacturing Company acquired new factory machinery this year and ceased using

Gibson Manufacturing Company acquired new factory machinery this year and ceased using the old machinery. The old equipment was retained, however, and is capable of being used if the demand for the co...

Q: List three substantive procedures the auditors could use to detect unrecorded retirements

List three substantive procedures the auditors could use to detect unrecorded retirements of property, plant, and equipment.

Q: Do the auditors question the service lives adopted by the client for

Do the auditors question the service lives adopted by the client for plant assets, or do they accept the service lives without investigation? Explain.

Q: Explain why the auditors may need to use the work of a

Explain why the auditors may need to use the work of a specialist in the audit of goodwill.

Q: K-J Corporation has current assets of $5 million and

K-J Corporation has current assets of $5 million and approximately the same amount of plant and equipment. Should the two groups of assets require about the same amount of audit time? Give reasons.