Explore BrainMass

External Auditing

ACC/546 Auditing and Assurance

Described the tolerable exception rate and how you might use this as an auditor. Explain how you might determine the rate you select.

Auditing and Assurance

What role does auditing evidence play in protecting the auditor and the client? What steps must be taken to ensure the evidence accurately supports the conclusions? Please use attachment.


In today's world what would happen to a company that looks at accounting as a necessary evil and audits as a pure waste of time? How should the Senior officers of a corporation respond to questions from Board Members, Stockholders and External auditors? How many accounting methods can you think of that can be used by Corpo

Auditing standard 5 - Internal controls for integrated audit

Auditing standard 5 - Internal controls for integrated audit What would you do if you were the CFO of the XYZ company that is listed on the stock exchange and find through the yearend audit by an independent Audit firm that a 3,000 dollar entry went to the wrong account? In this case the CFO decided not to reopen the books

Production Cycle- Auditing and Assurance Services

1. Sales/Inventory Cutoff. Your client took a complete physical inventory count under your observation as of December 15 and adjusted the inventory control account (perpetual inventory method) to agree with the physical inventory. After considering the count adjustments as of December 15 and after reviewing the transactions r

Auditing case

You are currently reviewing the audit file before planning the audit for the financial year ending 31 December 2010. As per the previous year auditor's findings, last year there were no major audit problems and inherent risks were assessed as relatively low and the control environment was considered satisfactory. The descript

Issues in auditing

Kent, CPA, is engaged in the audit of Davidson Corp.'s financial statements for the year ended December 31, 20XX. Kent is about to commence auditing Davidson's employee pension expense, but Kent's preliminary inquiries concerning Davidson's defined benefit pension plan led Kent to believe that some of the actuarial computations

Auditing Questions

Here I have about 45 review questions, about half of them are multiple choice. Please complete in Excel or Word. --------------------------- Response starts with: Question 7-1 Before you begin to answer this question, the first thing you may want to note is that, "Section 404 of the Sarbanes-Oxley Act calls

What is meant by auditing "around the computer" and is it efficient?

The role of the auditor has evolved from auditing "around the computer" to having to "know" technology in order to competently evaluate system controls. What is meant by auditing "around the computer" and is it efficient? Do you agree with the evolution of the role of the auditor and why?

Nike's auditing and independent monitoring

1.What could Nike's Corporate Responsibility team do to improve Nike's public image? 2.Why did Nike's attempt to address it critics prove unsuccessful? 3.What damage, if any, has been done to Nike? Did Nike react appropriately? Did it overreact? 4.What damage, if any, has been done to Nike? Did Nike react appropriately? Did i

A set of introductory auditing questions.

These all need to be based on the United States 1. Distinguish among the three principal types of auditors and indicate the types of audits each may perform 2. Explain one of the four economic benefits of a financial statement audit 3. What is the PCAOB and what is the authority given to it. 4. Identi

Auditing questions

Reasonableness of management's accounting estimates is covered by the existence or occurrence assertion. True or False Which one of the following is among the three components of audit risk? a) Incurrence risk b) Occurrence risk c) Rejection risk d) Acceptance risk e) Control risk For which of the following accounts i

Internal Auditing

Here are the questions that I need help with. The fact pattern that should be referenced, is attached. It is a pdf file. Please send me a message if you are unable to view it properly. Part A. What reporting responsibilities, if any, does a Mr. Murphy have to: 1) The Audit Committee Explain why or why not the respon

Advantages of Auditing and Assurance Services

What are the advantages a firm gains by using auditing and assurance services? How might you use these advantages to promote the auditing and assurance division of a company from within?

Introduction to Internal Auditing: 7 multiple choice questions

1. The most persuasive means of assessing production quality control is to: a. Evaluate the number and reasons for sales adjustments. b. Analyze labor efficiency variances. c. Analyze materials efficiency variances. d. Evaluate the production/inventory/sales mix. 2. A means of preventing production delays as a consequence

Assurance service

Compare and contrast auditing attestation and assurance services. Be sure to include an example of the assurance service, and who might request such a service and what standards apply to that service and who establishes those standards.

Account receivable auditing procedures

Please check the *** attached file *** and let me know if it is possible to solve the problem. Thanks! 1. Describe the two forms of accounts receivable confirmation requests that you used and indicate the factors that you considered in determining which type to use. 2. What "alternative procedures" are you going to use

Understanding the importance of internal controls for auditing.

In almost all accounting courses there has been a reference to internal controls and their importance. In the auditing course, a more detailed discussion on internal controls, control risks and situations that have occurred because of weakness in internal controls? Why has so much time been spent on this subject? Please p

Senior Auditors Decision

The company in question had a very significant amount of plant assets and also had a very significant maintenance expense each year. The company goals were reflected at every level of the company. The CEO knew that his job was on the line and to keep it he had to meet certain earnings goals. In establishing those goals a cert

Auditing Techniques, Methods and Real Life Examples.

Many corporations and government entities have an internal auditing function and a separate fraud investigation function either as a subunit of internal auditing or security or as a separate unit within the organization. In addition, many accounting and consulting firms have a forensic, investigation, and litigation support serv