Why does the auditor evaluate the auditees internal controls?
Question:
Why does the auditor evaluate the auditee’s internal controls?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
The auditors main goal is to assess the risk of the financi...View the full answer
Answered By
Parvesh Kumar
I am an experienced Mathematics and Statistics tutor with 10 years of experience teaching students and working professionals. I love teaching students who are passionate to learn subjects or wants to understand any mathematics and statistics concept at graduation or master’s level. I have worked with thousands of students in my teaching career. I have helped students deal with difficult topics and subjects like Calculus, Algebra, Discrete Mathematics, Complex analysis, Graph theory, Hypothesis testing, Probability, Statistical Inference and more. After learning from me, students have found Mathematics and Statistics not dull but a fun subject. I can handle almost all curriculum of mathematics. I did B.Sc (mathematics), M.Sc (mathematics), M.Tech (IT) and am also Gate (CS) qualified. I have worked in various college and school and also provided online tutoring to American and Canadian students. I look forward to discussing with you and make learning a meaningful and purposeful
5.00+
4+ Reviews
10+ 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
-
Give some examples of periodic comparisons a companys management can perform. How do they control the accuracy of its financial records?
-
If the auditor concludes the allowance for doubtful accounts should be between $130,000 and $160,000 and managements recorded amount is $110,000, what amount would be treated as a misstatement? a....
-
The SEC document that governs accounting in financial statements filed with the SEC is a. Regulation D. b. Form 8-K. c. Form S-18. d. Regulation S-X.
-
Solve the equation symbolically. Then solve the related inequality. - - x] S | - H =
-
a. Give the products obtained from ozonolysis of each of the following compounds, followed by work-up under oxidizing conditions: b. What compound would form the following products upon reaction with...
-
In Exercises 112, solve each system by the method of your choice. 3z = -5 2xy + 2z = 16 7x3y5z = 19 X
-
If you were a consumer who had installed Lumber Liquidators laminate flooring in your home or business, what would you do now?
-
Let's investigate the possibility of heteroskedasticity in time-series data by looking at a model of the black market for U.S. dollars in Brazil that was studied by R. Dornbusch and C. Pechman. In...
-
Grim Corporation has income and expenses for its current fiscal year, recorded under generally accepted accounting principles, as shown in the following schedule. In addition, a review of Grim's...
-
Weller Industries is a decentralized organization with six divisions. The companys Electrical Division produces a variety of electrical items, including an X52 electrical fitting. The Electrical...
-
Explain managements responsibilities regarding its organizations internal control.
-
Explain how there can be situations when auditors must test a particular control to comply with GAAS.
-
A 300 ft long roller conveyor, which operates at a velocity = 80 ft/min, is used to move pallets between load and unload stations. Each pallet carries 12 parts. Cycle time to load a pallet is 15 sec...
-
Account is a domestic growth portfolio. The current holdings are primarily US exchange-traded stocks and bonds. To remain in compliance, the total portfolio may only invest up to a maximum of 5% in...
-
The President of the United States needs your help. He has asked you to investigate and find answers to several important questions. His questions are included in the Letter from the President below....
-
Cheng Co. reports the following information for the coming year. Labor rate, including fringe benefits Annual labor hours Annual materials purchases Annual overhead costs: Materials purchasing,...
-
Compared to most objects, sound waves travel very fast. It is fast enough that measuring the speed of sound is a technical challenge. One method you could use would be to time an echo. For example,...
-
Sharif and Judith are married and purchased a vacation home together in Maine for $ 2 5 0 , 0 0 0 . Sharif died suddenly six months later and at that time the fair market value of the vacation home...
-
In Problem simplify each expression and write answers using positive exponents only. All variables represent positive real numbers. (4u -2 v 4 ) 1/2
-
Medi-Exam Health Services, Inc. (MEHS), located in a major metropolitan area, provides annual physical screening examinations, including a routine physical, EKG, and blood and urine tests. MEUS's...
-
Explain how a channel captain can help traditional independent firms compete with a corporate (integrated) channel system.
-
Find an example of vertical integration within your city. Are there any particular a d vantages to this vertical integration? If so, what are they? If there are no advantages, how do you explain the...
-
What would happen if retailer-organized channels (either formally integrated or a d ministered) dominated consumer products marketing?
-
A zero-coupon bond bears a higher interest rate risk than a coupon-paying bond, given other bond characteristics are equal. True False
-
Company management decided to restructure its balance sheet. Current long term debt of 8 mio euros will be increased to 20 mio euros. Interest for the debt is 4%. Borrowed 12 mio euros will used to...
-
Susan loans 10000 to Jim. Jim repays the loan with yearly instalments at the end of each year. Interest is expected to be 5% the first five years, and 10% the last five years. Calculate the...
Study smarter with the SolutionInn App