Questions from Auditing and Assurance

Q: Identify and describe the transaction-related and balance-related presentation

Identify and describe the transaction-related and balance-related presentation audit objectives. Explain how many of the procedures to test presentation objectives are integrated with tests performed...

Q: Identify three tests of controls or substantive tests of transactions in the

Identify three tests of controls or substantive tests of transactions in the payroll and personnel cycle that an auditor may perform using audit software.

Q: Five months after issuing an unqualified audit opinion and an unqualified opinion

Five months after issuing an unqualified audit opinion and an unqualified opinion on internal controls for the audit of the year ended December 31, 2019, for a large publicly traded client, the client...

Q: You have been asked to provide assurance on information contained in New

You have been asked to provide assurance on information contained in New Dominion’s Corporate Sustainability Report. What standards would you use to perform this engagement?

Q: Explain how expense account analysis relates to the tests of controls and

Explain how expense account analysis relates to the tests of controls and substantive tests of transactions that the auditor has already completed for the acquisition and payment cycle.

Q: State the most important factors affecting the sample size in confirmations of

State the most important factors affecting the sample size in confirmations of accounts receivable.

Q: How would an auditor test the realizable value audit objective for a

How would an auditor test the realizable value audit objective for a financial instrument classified as a level 3 fair value estimate?

Q: Describe how electronic confirmation of cash balances through third-party intermediaries

Describe how electronic confirmation of cash balances through third-party intermediaries can improve the cash confirmation process.

Q: Describe the purpose of obtaining a cutoff bank statement or obtaining online

Describe the purpose of obtaining a cutoff bank statement or obtaining online access to the client’s bank activity after year end.

Q: The Salah Company sells electronics equipment and has grown rapidly in the

The Salah Company sells electronics equipment and has grown rapidly in the last year by adding new customers. The audit partner has asked you to evaluate the allowance for doubtful accounts at Decembe...