The Kowal Manufacturing Company employs about 50 production workers and has the

The Kowal Manufacturing Company employs about 50 production workers and has the following payroll procedures. The factory foreman interviews applicants and on the basis of the interview either hires o...

Kent, CPA, is the engagement partner on the financial statement

Kent, CPA, is the engagement partner on the financial statement audit of Super Computer Services Co. (SCS) for the year ended April 30, 2011. On May 6, 2011, Smith, the senior auditor assigned to the...

Appliances Repair and Service Company bills all customers rather than collecting in

Appliances Repair and Service Company bills all customers rather than collecting in cash when services are provided. All mail is opened by Tom Gyders, treasurer. Gyders, a CPA, is the most qualified p...

The following questions concern the auditor's responses to the possibility of fraud

The following questions concern the auditor's responses to the possibility of fraud. a. When fraud risk factors are identified during an audit the auditor's documentation should include b. If an indep...

The following questions address fraud risk factors and the assessment of fraud

The following questions address fraud risk factors and the assessment of fraud risk. a. Because of the risk of material misstatements due to fraud (fraud risk), an audit of financial statements in acc...

Name the three categories of inquiry and describe the purpose of each

Name the three categories of inquiry and describe the purpose of each when used by an auditor to obtain additional information about a suspected fraud.

The following misstatements are included in the accounting records of the Joyce

The following misstatements are included in the accounting records of the Joyce Manufacturing Company: 1. A shipment to a customer was not billed because of the loss of the bill of lading. 2. A sales...

You have identified a suspected fraud involving the company's controller. What

You have identified a suspected fraud involving the company's controller. What must you do in response to this discovery? How might this discovery affect your report on internal control when auditing...

Distinguish management's responsibility from the audit committee's responsibility for designing and implementing

Distinguish management's responsibility from the audit committee's responsibility for designing and implementing antifraud programs and controls within a company.

The proliferation of information technology (IT) has made governance of

The proliferation of information technology (IT) has made governance of IT an important issue for businesses of all sizes and types, as well as their auditors. The IT Governance Institute has develope...