Vouching is (a) Not a useful audit procedure (b) Agreeing a balance or transaction to supporting documentation (c) The main audit procedure used to gather evidence on the completeness assertion (d) Not designed to be used as a substantive audit procedure ...

Vouching is: (a) Not a useful audit procedure. (b) Agreeing a balance or transaction to supporting documentation.

Question:

Vouching is:

(a) Not a useful audit procedure.

(b) Agreeing a balance or transaction to supporting documentation.

(d) Not designed to be used as a substantive audit procedure.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing A Practical Approach

ISBN: 978-1118849415

2nd Canadian edition

Authors: Fiona Campbell, Robyn Moroney, Jane Hamilton, Valerie Warren

See More Books

Question Posted: Apr 05, 2019 12:06 PM

See More Questions

1. Which of the following comparisons would an auditor most likely make in evaluating an entitys costs and expenses? a. The current years accounts receivable with the prior years accounts receivable....
ABC is a company that purchases ski equipment from a European manufacturer and then sells the equipment to stores in eastern Canada. The companys records include pre-numbered shipping and purchasing...
Biomed Products Incorporated (BPI) is a public company, listed on the Toronto Stock Exchange (TSX), that manufactures and markets various types of medical equipment that monitors patients? vital...
Evaluate the limit or determine that it does not exist. |xx| lim (x,y)(0,0) [x] + [yl
Listed below are parts of various well-known businesses: 1. The bookstore of Central Michigan University. 2. The billing department of Jackson Life Insurance Co. 3. The San Francisco Factory of...
Using the efficient portfolio instead of the S&P 500: a. Compute the monthly returns on the efficient portfolio. b. Regress the average monthly returns of the stocks on their betas with respect to...
12-2. Para eliminar las inconsistencias en los servicios , las organizaciones dependen de _______________ y de ________________.
Roper Corporation reports the following results for the current year: Gross profits on sales . $80,000 Short-term capital gain ... 40,000 Long-term capital gain 25,000 Dividends from 25%-owned...
Pete's Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system. Date Units Unit Cost...
A 50.0-mL portion of a solution containing 0.200 g of BaCl2 2H2O is mixed with 50.0 mL of a solution containing 0.300 g of NaIO3. Assume that the solubility of Ba(IO3)2 in water is negligibly small...
The reliability of data used for analytical procedures: (a) Affects the persuasiveness of the evidence from analytical procedures. (b) Is more useful on a consolidated basis than an individual...
The primary advantage of selecting the largest transactions within a balance to test is: (a) It is an example of random sampling. (b) It is more interesting for the auditor because they see the most...
The period of the Bloch oscillations. Consider an electron that is subjected to an electric field. The electric field exerts a force F=-qE on the electron. Assume that the electron is initially not...
The copper coil placed inside a stove with the purpose of heating water that flows through the coil. The coil is made from copper tube with an OD of 1 2 . 7 0 mm and ID of 1 1 . 0 8 mm . Water enters...
Confidence Levels Given specific sample data, such as the data given in Exercise 1, which confidence interval is wider: the 95% confidence interval or the 80% confidence interval? Why is it wider?
Yellow M&Ms Express the confidence interval (0.0847, 0.153) in the form of P - E < p < p + E. 12. Blue M&Ms Express the confidence interval 0.255 (+-) 0.046 in the form of P - E < p < p + E.
An ideal, noble gas with a mass of 97.2 g at 25 C and a pressure of 608 torr has a volume of 22.7 L. 1. What is the pressure (in atm)? SHOW ALL WORK. 2. What is R (number and units)? 3. What is the...
A drug is used to help prevent blood clots in certain patients. In clinical trials, among 4705 patients treated with the drug, 170 developed the adverse reaction of nausea. Construct a 95% confidence...
For the following exercises, find the limits if lim f(x) = -3 and lim g(x) = 5. xc x C
Time Solutions, Inc. is an employment services firm that places both temporary and permanent workers with a variety of clients. Temporary placements account for 70% of Time Solutions' revenue;...
Blake Co. assembles specialist motor vehicles such as freight trucks, buses, and delivery trucks. The company owns four assembly plants where parts are delivered and assembled into the motor...
Greystone Co. is a retailer of womens clothing and accessories. It operates in many countries around the world and has expanded steadily from its base in Canada. Its main market is 15- to...
You are the audit senior in charge of the audit of Blackburn Ltd., and you are auditing the company?s trade creditors at December 31, 2020. A junior member of the audit team has been checking...
As a Financial Analyst in the Finance Department of Zeta Auto Corporation they are seeking to expand production. The CFO asks you to help decide whether the firm should set up a new plant to...
Chapter 4 When an Auditor finds misstatements in entities financial statements which may be the result of fraudulent act, what should be the role of an auditor under that situation? (2 Points)
Suppose the following input prices are provided for each year: Required: $

Vouching is: (a) Not a useful audit procedure. (b) Agreeing a balance or transaction to supporting documentation.

Question:

Step by Step Answer:

b Agreeing a ...View the full answer

Auditing A Practical Approach

Students also viewed these Business questions