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    Audit risk and 100% audited accounts.

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    I would need answers to the two questions and not a copy from any web sites

    1. Why do certain accounts have to be audited 100 percent?

    2. Is any component of audit risk within the control of the auditor? Explain

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    Solution Preview

    1. Why do certain accounts have to be audited 100 percent?

    a. Because they are suspense accounts of items the company didn't know what to do with.
    b. Because they are a place to dump amounts, often called miscellaneous expense.
    c. Because they may contain tax deductible ...

    Solution Summary

    By using examples, the solution lists seven types of accounts or situations where a 100% audit is normally required. These are examples where a 100% audit of an account should be undertaken. The solution is real-world and may not be found in a textbook

    In a short paragraph, the extent of the control over risk by an auditor is described and explained.