Questions from General Auditing

Q: Marty Novakowski has to audit the sales transactions of Okawa Ltd.,

Marty Novakowski has to audit the sales transactions of Okawa Ltd., which supplies tools to the mining industry. Okawa carries a large number of different makes and models of standard mining tools. It...

Q: a. Identify two key account balances likely to be affected by

a. Identify two key account balances likely to be affected by the above information. b. For each account balance identified in part (a), identify and explain the key assertions most at risk. c. For each...

Q: Your assurance services manager has requested that you use substantive analytical procedures

Your assurance services manager has requested that you use substantive analytical procedures to calculate Shady Oaks’ estimated revenue for patients staying in the centre, excluding medical procedures...

Q: Review your answers to the previous questions. Comment on the persuasiveness

Review your answers to the previous questions. Comment on the persuasiveness of evidence from each test. Explain any factors that would affect your assessment.

Q: Answer the following questions based on the information presented for Cloud 9

Answer the following questions based on the information presented for Cloud 9 in Appendix A of this book and the current and earlier chapters. You should also consider your answers to the case study q...

Q: Analysis is a substantive audit procedure that auditors use when they are

Analysis is a substantive audit procedure that auditors use when they are performing financial statement audits. Required: a. Distinguish between analysis and analytical procedures. b. Identify the th...

Q: The following items are documented in the audit working papers:

The following items are documented in the audit working papers: 1. Sales transaction included in the year ended December 31, 2020, but evidence from the cut-off procedure suggests that the sale should...

Q: James Wu has been assigned the audit planning for the property,

James Wu has been assigned the audit planning for the property, plant, and equipment section for a large manufacturing audit client. The client built a new factory during the first six months of the ye...

Q: Carla DaCosta has been asked to join the team responsible for designing

Carla DaCosta has been asked to join the team responsible for designing the audit program for a new client, Gaskin Industries Ltd., a manufacturing and wholesaling firm. Gaskin recently went public and...

Q: Boris Shonk off suggests the following audit procedure should be included in

Boris Shonk off suggests the following audit procedure should be included in the audit program to gather evidence on the cut-off assertion for the revenue account: Select a sample of sales from the sal...