Questions from Auditing and Assurance

Q: Robertson Company had accounts receivable of $200,000 at December

Robertson Company had accounts receivable of $200,000 at December 31, 20X0, and had provided an allowance for uncollectible accounts of $6,000. After performing all normal auditing procedures relating...

Q: The auditors’ report that follows was drafted by a staff accountant of

The auditors’ report that follows was drafted by a staff accountant of Smith & Co., CPAs, at the completion of the audit of the financial statements of Lenses Co. (a public compa...

Q: Sturdy Corporation (a nonpublic company) owns and operates a large

Sturdy Corporation (a nonpublic company) owns and operates a large office building in a desirable section of New York City’s financial center. For many years, management of Sturdy Corporation has modi...

Q: Roscoe & Jones, Ltd., a CPA firm in Silver Bell

Roscoe & Jones, Ltd., a CPA firm in Silver Bell, Arizona, has completed the audit of the financial statements of Excelsior Corporation as of, and for, the year ended December 31, 20X1. Findings relate...

Q: Assume that during the audit of the public Chandler Corporation the following

Assume that during the audit of the public Chandler Corporation the following critical audit matter was identified and summarized for purposes of inclusion in the audit report. Critique presentation a...

Q: Your working papers for an integrated audit being performed under PCAOB AS

Your working papers for an integrated audit being performed under PCAOB AS 2201 include the narrative description below of the cash receipts and billing portions of internal control of Slingsdale Buil...

Q: Jiffy Clerical Services is a company that furnishes temporary office help to

Jiffy Clerical Services is a company that furnishes temporary office help to its customers. The company maintains its accounting records on a basis of cash receipts and cash disbursements. You have au...

Q: Loman, CPA, who has audited the financial statements of the

Loman, CPA, who has audited the financial statements of the Broadwall Corporation, a publicly held company, for the year ended December 31, 20X6, was asked to perform a review of the financial stateme...

Q: SysTrust and WebTrust are Trust Services developed by the AICPA and the

SysTrust and WebTrust are Trust Services developed by the AICPA and the CICA. Required: a. Present and describe the Trust Services principles. b. Present and describe the “criteria” related to Trust...

Q: Assume that you are a partner with the firm of Slater &

Assume that you are a partner with the firm of Slater & Lowe LLP. You have been asked by Grayson, Inc., an industrial supply company, to provide assurance about the change in existing customer satisfa...