Questions from Auditing and Assurance

Q: Ratio estimation and difference estimation are two widely used variables sampling plans

Ratio estimation and difference estimation are two widely used variables sampling plans. a. Under what conditions are ratio estimation or difference estimation appropriate sampling plans for estimatin...

Q: Assume you are testing the internal controls over sales transactions for the

Assume you are testing the internal controls over sales transactions for the Tidwell Co. audit. You have tested the general controls and found them to be operating effectively. You are now testing the...

Q: Select the best answer for each of the following questions. Explain

Select the best answer for each of the following questions. Explain the reasons for your selection. 16 If the auditors had identified a number of items in the population that they considered individua...

Q: The auditors of Kansas Corporation wish to use a structured approach to

The auditors of Kansas Corporation wish to use a structured approach to no statistical sampling to evaluate the reasonableness of the accounts receivable. Kansas has 30,000 receivable accounts with a...

Q: John Wilson wishes to use no statistical sampling to select a sample

John Wilson wishes to use no statistical sampling to select a sample of his client’s 3,000 accounts receivable, which total $4,500,000. He believes that $225,000 represents a reasonable tolerable miss...

Q: Match each the following statements with the appropriate type of auditors’ opinion

Match each the following statements with the appropriate type of auditors’ opinion (each auditors’ report may be used once, more than once, or not at all): A. Adver...

Q: For each term in the first column, select the partial (

For each term in the first column, select the partial (or compete) definition or illustration. Each partial (or complete) definition or illustration may be used only once, or not at all.

Q: Wren, Inc., a nonpublic company, retains Ying and Company

Wren, Inc., a nonpublic company, retains Ying and Company CPA to audit its financial statements and internal control. Sarah Smith, the senior on the audit prepared the following first draft of an unmo...

Q: Match the following definitions (or partial definitions) to the appropriate

Match the following definitions (or partial definitions) to the appropriate term. Each term may be used once or not at all.

Q: International Trading Co., a client of your CPA firm, has

International Trading Co., a client of your CPA firm, has requested your advice on the following problem. It has three clerical employees who must perform the following functions: (1) Maintain general...