Questions from Auditing and Assurance

Q: An auditor’s working papers include the following narrative description of the cash

An auditor’s working papers include the following narrative description of the cash receipts and billing portions of Southwest Medical Center’s internal control. Evaluate each condition following the...

Q: An assistant on the Carter Company audit has been working in the

An assistant on the Carter Company audit has been working in the revenue cycle and has compiled a list of possible errors and fraud that may result in the misstatement of Carter Companyâ€&#...

Q: An auditor may use confirmations of accounts receivable. Reply as to

An auditor may use confirmations of accounts receivable. Reply as to whether the following statements are correct or incorrect with respect to the confirmation process when applied to accounts receiva...

Q: The auditors have determined that each of the following objectives will be

The auditors have determined that each of the following objectives will be a part of the audit of SSC Corporation. While several procedures will ordinarily address an audit objective, select the proce...

Q: This simulation, also available on online, presents the Memo re

This simulation, also available on online, presents the Memo re Sales Invoice Procedures/ Results relating to the Keystone Computers & Networks, Inc. (Keystone), audit. Background financial and ot...

Q: The use of statistical sampling techniques in an audit of financial statements

The use of statistical sampling techniques in an audit of financial statements does not eliminate judgmental decisions. Required: a. Identify and explain four areas in which judgment may be exercised...

Q: As part of your audit of the Abba Company accounts payable function

As part of your audit of the Abba Company accounts payable function, your audit plan includes a test of controls addressing the company policy requiring that all vouchers be properly approved. You est...

Q: Scott Duffney, CPA, has randomly selected and audited a sample

Scott Duffney, CPA, has randomly selected and audited a sample of 100 of Will-Mart’s accounts receivable. Will-Mart has 3,000 accounts receivable accounts with a total book value of $3,000,000. Duffne...

Q: You are the auditor of Jexel, an auto air-conditioner

You are the auditor of Jexel, an auto air-conditioner service and repair company, and you have decided to use the mean-per-unit method to test the existence and gross valuation of recorded accounts re...

Q: What is the meaning of the term window dressing when used in

What is the meaning of the term window dressing when used in connection with year end financial statements? How might the term be related to the making of loans by a corporation to one or more of its...