Questions from General Auditing

Q: Featherbed Surf & Leisure Holidays Ltd. is a resort company based

Featherbed Surf & Leisure Holidays Ltd. is a resort company based on Vancouver Island. Its operations include boating, surfing, diving, and other leisure activities; a backpackers’ hostel; a family ho...

Q: Discuss the strengths and weaknesses of accounts receivable confirmations as audit evidence

Discuss the strengths and weaknesses of accounts receivable confirmations as audit evidence for HCHG.

Q: Is it possible for Fellowes and Associates to use only accounts receivable

Is it possible for Fellowes and Associates to use only accounts receivable confirmations as audit evidence and adhere to the mandatory requirements in CAS 230? Explain.

Q: The working paper in figure 5.11 was prepared by James

The working paper in figure 5.11 was prepared by James Parkhill, a first-year accountant. Find seven errors that James made while completing this working paper. Figure 5.11:

Q: Tropical Cruises is a new client of MMM Partners. Tropical Cruises

Tropical Cruises is a new client of MMM Partners. Tropical Cruises is a low-cost cruise ship operator, travelling between Canada and the United States. The planning for the first audit is under way. T...

Q: A client has a material balance in property, plant, and

A client has a material balance in property, plant, and equipment. The discussions with management indicate that there is a risk the client will capitalize all repair costs to minimize the impact on e...

Q: The following are independent questions. Required: a

The following are independent questions. Required: a. List four factors that make audit evidence more reliable. b. Explain the difference between positive and negative confirmations for accounts rece...

Q: You are engaged to examine the financial statements of Lauzon Inc.

You are engaged to examine the financial statements of Lauzon Inc. for the year ended December 31. On October 1, Lauzon Inc. borrowed $250,000 from a local bank to finance a plant expansion. The loan...

Q: Jenna is working on the audit of a client’s accounts receivable.

Jenna is working on the audit of a client’s accounts receivable. During the last few weeks, she has conducted interviews with the accounts receivable manager, the CFO, and staff working in the account...

Q: The auditor is planning for the audit of a specialty retail store

The auditor is planning for the audit of a specialty retail store. Inventory is material, and items range in value from $1 to over $500. The nature of the store means that the type of merchandise chan...