Auditor Duties

Related BrainMass Solutions

• Internal Auditors and Forensic Accounting Investigations

  If the internal auditor has shown reasonable care in his/her duties and there is a proper control environment and a proper segregation of duties within the internal audit department, the internal auditor should then be used as a resource in the investigation

• Egregation of duties importance

  Why is the segregation of duties is so important? Segregation of duties (SoD) is one important component of good internal controls.

• Responsibilities of an auditor

  The auditor cannot dismiss internal controls or other major components of a standard audit solely because the information is being reported as interim information. The main duties of the auditor do not change.

• Client Trust and Professional Sketpicism

  The auditor can then continue their duties while always using a healthy degree of skepticism.

• Discussion of Test Controls

  If the assessment of the auditor is that there are no separation of duties, no proper authorization, and little documentary support, the auditor does not carry out tests of control.

• deposit & trust embezzlement

  In what way does this case indicate a lack of proper segregation of duties?

• Auditing the transaction cycles

  Segregation of duties. The solution states the analytical procedure that an auditor might use.

• relationship between the auditor, client, and external users

  She cannot enter into a contract with the client to perform duties that are barred by the law/professional standards. For instance, an external auditor cannot enter into a contract with the client for providing management consulting services.

• Internal and External Auditors Duties

  Internal and external auditors duties are examined in the solution.

• Describe the source documents and controls that would be inc

  The auditor would perform substantive testing for a proper segregation of duties in each area, while using additional testing to ensure proper segregation of custodial duties and reconciliations.