Explain why independent audit evidence needs to be persuasive.
Question:
Explain why independent audit evidence needs to be persuasive.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Management is responsible for fair presentation of the finan...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
Question Posted:
Students also viewed these Business questions
-
The 2014 survey of the International Forum of Independent Audit Regulators found that internal control testing is consistently an area where audit work is deficient. Canada is no exception. Access...
-
In this chapter, several different kinds of audit evidence were identified. The following questions concern the reliability of audit evidence. Required a. Explain why confirmations are normally...
-
In this chapter, several different kinds of audit evidence were identified. The following questions concern the relevance and reliability of audit evidence. Required a. Explain why confirmations are...
-
Suppose you have a subject property with a 105,000 sq. ft. lot and existing improvements for which you estimate the reproduction cost new to be $2,500,000, physical deterioration to be $400,000,...
-
Let Q be an orthogonal matrix. (a) Show that if A is an eigen value of Q then || = I. (h) Show that | det (Q)| = 1.
-
Solve each equation. 2x 2 = 7x + 4
-
Ambulance response time. Ambulance response time is measured as the time (in minutes) between the initial call to emergency medical services (EMS) and when the patient is reached by ambulance....
-
On December 31, 2015, Martin Corp invested in Marlins 5-year, $200,000 bond with a 5% interest rate for $191,575. The bond pays semiannual interest on June 30th and December 31st. The fair values of...
-
List the advantages and disadvantages of the NPV(net present value) method versus the MIRR(modified internal rate of return) method.
-
A furniture company manufactures tables and chairs. Each table and chair must be made entirely out of oak or entirely out of pine. A total of 15,000 board feet of oak and 21,000 board feet of pine...
-
The following information is available to Griffin & Fox, the auditors of Melba Inc. Required: For each of the following situations, discuss which source information would be considered of higher...
-
What is the difference between money and currency? When are they the same? Why might they be different?
-
are intellectual capital accounts likely to help a firm gain competitive advantage and how can they enable a firm to critically review its practices and processes?
-
Conservation efforts include reintroduction of species into the wild from captive breeding programs. Leung et al. (2018) rewilded mice from the inbred laboratory strain of mouse, C57BL/6, that had...
-
The ending balance of the Accounts Receivable account was \(\$ 7,800\). Services billed to customers for the period were \(\$ 21,500\), and collections on account from customers were \(\$ 23,600\)....
-
Cash Flow Activity Classification Classify each activity as financing, investing, or operating: 1. Repay a loan from a bank. 2. Sell merchandise from a storefront operation. 3. Dispose of an old...
-
Generally Accepted Accounting Principles Select the best answer to each of the following MBC) questions: 1. Accounting rules are developed to provide: a. Simplicity b. Useful information c....
-
Basic Accounting Principles Identify whether the following statements are true or false. 1. Together the revenue recognition principle and the expense recognition (matching) principle define the...
-
8. Bins. I saw two frequency tables of airline passenger weights, one using bins that spanned 10-pound ranges (e.g. 101 to 110 nounds) and the second with bins that spanned 20-pound 109 of 449 I to...
-
Which internal control principle is especially diffi cult for small organizations to implement? Why?
-
What are the implications of a business using e-commerce on its business analysis?
-
What are some examples of external and internal business performance measures? How can these performance measures motivate management to misstate the financial statements?
-
What are the auditors communication responsibilities when he or she suspects or finds evidence of fraud? How do his or her responsibilities differ if the fraud involves low-level employees or...
-
Discuss why it is important for company managers to understand and use social capital knowledge to help build social ties among their skilled knowledge workers so they can build employee loyalty...
-
Kate lives in a house close to a local university, and she traditionally has rented a garage apartment in the back of her property to students for $750 per month. Kate wants to transfer the title to...
-
Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at...
Study smarter with the SolutionInn App