Questions from General Auditing

Q: Your audit assistant on the Greenburn Ltd assignment has asked you where

Your audit assistant on the Greenburn Ltd assignment has asked you where the following working schedules should be filed: a. Summary of the details of a construction contract for the supply of goods...

Q: The characteristics of suitable criteria are: relevance, completeness, reliability

The characteristics of suitable criteria are: relevance, completeness, reliability, neutrality and understandability. Explain what these characteristics mean, illustrating your answer by reference to...

Q: You have completed the audit of Magnolia Ltd for the year ended

You have completed the audit of Magnolia Ltd for the year ended 31 December 2018. The financial statements show turnover of £10 000 000 – down 10 per cent on the prior year – and losses of £75 000. Th...

Q: To what extent are the determinants and characteristics of audit quality similar

To what extent are the determinants and characteristics of audit quality similar to those of the audit expectations gap?

Q: You ask your audit assistant to carry out a review of after

You ask your audit assistant to carry out a review of after-date receipts from credit customers. Explain to them the reason for such a review and show how it should be performed. What kind of conclusi...

Q: It is early December 2020, and you approach the Chief Financial

It is early December 2020, and you approach the Chief Financial Officer of Pitscottie Limited, a trading company, to ask him to send the 31 December year-end inventory count instructions for review. H...

Q: In this chapter we referred to the term non-sampling risk

In this chapter we referred to the term non-sampling risk. Outline what you believe the term means and give some examples of what you consider to be a non-sampling risk.

Q: Munro Limited is a small company with two divisions. One division

Munro Limited is a small company with two divisions. One division trades in specialized equipment for walkers and mountaineers, and the other sells artists’ materials. The company has acquired rights...

Q: This question is taken from a past paper of the Final Admitting

This question is taken from a past paper of the Final Admitting Examination of CAI. Only the dates have been changed. You are undertaking the fieldwork for the audit of the financial statements of CA...

Q: Two questions are placed within the text (10.5)

Two questions are placed within the text (10.5) Case study 10.3 Troston plc; (10.6) Case study 10.4 Burbage Limited: General and application controls in a sales system.