Questions from Auditing and Assurance

Q: During the year 1 audit of Cellenting Co., the auditor performed

During the year 1 audit of Cellenting Co., the auditor performed various procedures relating to inventory. Match each of the following procedures with the description below: Audit procedures â&#...

Q: On July 27, 20X0, Arthur Ward, CPA, issued

On July 27, 20X0, Arthur Ward, CPA, issued an unqualified audit report on the financial statements of Dexter Company for the year ended June 30, 20X0. Two weeks later, Dexter Company mailed annual rep...

Q: Linda Tanner, CPA, is auditing the Carson Company. For

Linda Tanner, CPA, is auditing the Carson Company. For the current year, Carson is presenting December 31, 20X5, financial statements with comparative financial statements for the year ended December...

Q: An accountant of an audit client made the following statement: It

An accountant of an audit client made the following statement: It is important to read the notes to financial statements, even though they are presented in technical language and are incomprehensible....

Q: Rowe & Myers audits the financial statements of Dunbar Electronics. During

Rowe & Myers audits the financial statements of Dunbar Electronics. During the audit, Ross & Myers engaged Jones & Abbot, a Canadian public accounting firm, as a component auditor to audit Dunbar’s wh...

Q: Lando Corporation is a domestic company with two wholly owned domestic subsidiaries

Lando Corporation is a domestic company with two wholly owned domestic subsidiaries. Michaels, CPA, has been engaged to audit the financial statements of the parent company and one of the subsidiaries...

Q: While performing your audit of Williams Paper Company, you discover evidence

While performing your audit of Williams Paper Company, you discover evidence that indicates that Williams may not have the ability to continue as a going concern. a. Discuss types of information that...

Q: The CPA firm of Carson & Boggs LLP is performing an internal

The CPA firm of Carson & Boggs LLP is performing an internal control audit in accordance with PCAOB AS 2201. The partner in charge of the engagement has asked you to explain the process of determining...

Q: Tests of controls are ordinarily performed for both financial statement audits and

Tests of controls are ordinarily performed for both financial statement audits and internal control audits. a. What is the objective of tests of controls when performed for internal control audits? b....

Q: The CPA firm of Webster, Warren, & Webb LLP issued

The CPA firm of Webster, Warren, & Webb LLP issued an adverse opinion on the internal control of Alexandria Financial, a public company, due to a material weakness. The weakness involved the lack of s...