Distinguish between a test of control and a substantive test of transactions. Give two examples of each.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 91% (12 reviews)
Tests of controls are audit procedures to test the operating effectiveness of control policies and p...View the full answer
Answered By
Shem Ongek
I am a professional who has the highest levels of self-motivation. Additionally, I am always angled at ensuring that my clients get the best of the quality work possible within the deadline. Additionally, I write high quality business papers, generate quality feedback with more focus being on the accounting analysis. I additionally have helped various students here in the past with their research papers which made them move from the C grade to an A-grade. You can trust me 100% with your work and for sure I will handle your papers as if it were my assignment. That is the kind of professionalism that I swore to operate within. I think when rating the quality of my work, 98% of the students I work for always come back with more work which therefore makes me to be just the right person to handle your paper.
4.80+
174+ Reviews
426+ Question Solved
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
Question Posted:
Students also viewed these Auditing questions
-
Give two examples for each of the following: (a) An intangible good, (b) A tangible good, (c) A bad.
-
State one test of control and one substantive test of transactions that the auditor can use to verify the following sales transaction-related audit objective: Recorded sales are stated at the proper...
-
Give two examples of each of the following: (a) A diatomic molecule containing atoms of the same element, (b) A diatomic molecule containing atoms of different elements, (c) A polyatomic molecule...
-
Simplify the given expressions. Express all answers with positive exponents. 25/7/7/4 2/3 a
-
In each case find the matrix A. (a) (b) A +2 0 2 2410 -12.1) =44-9 1 0
-
a. Show that x 3 + x 2 + 1 is irreducible over Z 2 . b. Let a be a zero of x 3 + x 2 + 1 in an extension field of Z 2 . Show that x 3 + x 2 + 1 factors into three linear factors in (Z 2 ())[x] by...
-
Refer to Exercise 10. The quality engineer suspects that the setting with a P-value of 0.03 may actually reduce the proportion of defective parts. What P-value would be needed to make this conclusion...
-
The 2010 oil spill in the Gulf of Mexico caused the oil firm BP and the U. S. government to greatly increase purchases of boat services, various oil-absorbing materials, and other goods and services...
-
Sam and Michelle are a hard working couple in their late 20's they returned from overseas 3years ago , their plan is to get a house ASAP keep working for a couple of years and then hopefully start a...
-
Jimmy owns a garden in which he has planted N trees in a row. After a few years, the trees have grown up and now they have different heights. Jimmy pays much attention to the aesthetics of his...
-
What is the purpose of tests of controls? Identify specific accounts on the financial statements that are affected by performing tests of controls for the acquisition and payment cycle.
-
State a test of control audit procedure to test the effectiveness of the following control: Approved wage rates are used in calculating employees' earnings. State a substantive test of transactions...
-
Identify three start-ups, other than those discussed in the chapter or listed in Table 2.1, which were started to satisfy a changing environmental trend. Briefly describe the start-up and the...
-
You are a Human Resource Manager, and your company is expanding globally to Japan from the US. You have been tasked to create a presentation to present to the Executive Leadership Team that reviews...
-
Do you believe that white collar crime is generally perceived as less egregious than other crimes? Is any level of deception ever ok in the pursuit of profit? Do white collar criminals deserve to be...
-
How can leaders foster a culture of accountability and transparency to enhance collective decision-making within their teams ? Explain
-
What potential products, communication and/or activation ideas can be developed to become a premium face care brand? It should be a detailed answer.
-
1)Briefly describe the FIVEpurposes of budgeting in organisations. 2) To plan ahead the budgeted profit for the next period in a manufacturing firm, provide the correct order of the EIGHT operating...
-
Dividends declared by a group will include dividends declared by the parent and dividends declared by a subsidiary to its non-controlling interests. True/False
-
The executor of Gina Purcells estate has recorded the following information: Assets discovered at death (at fair value): Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
To what extent and why do you think that the creation of a VMS can improve the performance of a channel and its members?
-
What is the purpose of a control risk matrix?
-
What four types of procedures are used by auditors to test whether internal controls are operating effectively?
-
Why are the financial statement audit findings relevant to the auditors opinion on the effectiveness of internal controls over financial reporting?
-
Cobe Company has already manufactured 23,000 units of Product A at a cost of $25 per unit. The 23,000 units can be sold at this stage for $420,000. Alternatively, the units can be further processed...
-
[Language-Science Kits] The president of Kool Science, Inc., which makes educational science kits for children, calls the president of Language Fun, Inc., which makes foreign language learning...
-
What is corrections? Discuss each of the following forms of early corrections: The workhouse Transportation Hulks Explain each of the following: The Pennsylvania system The Auburn system The...
Study smarter with the SolutionInn App