You are auditing an online food delivery company and noted that the accountant wrongly charged an additional
Question:
You are auditing an online food delivery company and noted that the accountant wrongly charged an additional 1 percent to the commission fee on all deliveries made on August 1.
a. Is this error material?
b. If the error occurred the entire month of August, is this error material?
c. What if you discovered the CFO had deliberately increased the commission fee for the month of August in order to meet budget?
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Solution a Yes the error is material because as the auditors report states The 1 ...View the full answer
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Labindao Antoque
I graduated in 2018 with a Bachelor of Science degree in Psychology from Dalubhasaan ng Lungsod ng San Pablo. I tutored students in classes and out of classes. I use a variety of strategies to tutor students that include: lecture, discussions about the subject matter, problem solving examples using the principles of the subject matter being discussed in class , homework assignments that are directed towards reinforcing what we learn in class , and detailed practice problems help students to master a concept. I also do thorough research on Internet resources or textbooks so that I know what students need to learn in order to master what is being taught in class .
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Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan, Joanne C. Jones
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