Questions from General Auditing

Q: Required: Match the numbered situations below with one of the

Required: Match the numbered situations below with one of the following types of audit sampling or sampling risk: a. Statistical sampling b. N on-statistical sampling c. Sampling risk d. Non-sampl...

Q: Discuss the factors to consider when determining preliminary materiality for Securimax.

Discuss the factors to consider when determining preliminary materiality for Securimax. Questions 4.21 and 4.22 are based on the following case. Fellowes and Associates is a successful mid-tier accoun...

Q: Farm Fresh Foods Inc. (FFF) is a new food

Farm Fresh Foods Inc. (FFF) is a new food distribution company that has been profitable since the second month of operations. It has arranged with Smith LLP, an accounting firm, to conduct an external...

Q: McKesson & Robbins was a company at the centre of a famous

McKesson & Robbins was a company at the centre of a famous fraud in the United States in the 1930s. Required: a. Research the facts of the McKesson & Robbins fraud and write a short description of th...

Q: Armstrong, Aldrin & Collins Professional Corporation (AAC) operates a

Armstrong, Aldrin & Collins Professional Corporation (AAC) operates a public accounting practice that is located in Woodstock, Ontario. AAC’s common shares are owned equally by i...

Q: W&S Partners commenced the risk assessment phase of the Cloud

W&S Partners commenced the risk assessment phase of the Cloud 9 audit with procedures to gain an understanding of the client’s structure and its business environment. You have co...

Q: Expansion Aviation has installed a new payroll module for its existing accounting

Expansion Aviation has installed a new payroll module for its existing accounting system that integrates with the general ledger application. The new payroll application is more complex than the old s...

Q: Dunks Holdings Ltd. (Dunks) is an importer of hardware

Dunks Holdings Ltd. (Dunks) is an importer of hardware goods and distributes them to hardware retailers around the country. The growth in the do-it-yourself (DIY) market, which has accompanied the boo...

Q: Stokes Ltd. operates in the steel fabrication industry. Its business

Stokes Ltd. operates in the steel fabrication industry. Its business is organized into domestic and international sales and it has many clients in each area. It obtains most of its raw materials from...

Q: Ivy Bishnoi is preparing a report for the engagement partner of an

Ivy Bishnoi is preparing a report for the engagement partner of an existing client, Scooter Ltd., an importer of scooters and other low-powered motorcycles. Ivy has been investigating certain aspects...