Explain the relationship between the results of tests of controls and substantive testing.
Question:
Explain the relationship between the results of tests of controls and substantive testing.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
Generally if tests of controls confirm the auditors preliminary evaluation of control risk as low th...View the full answer
Answered By
Anjali Arora
Having the experience of 16 years in providing the best solutions with a proven track record of technical contribution and appreciated for leadership in enhancing team productivity, deliverable quality, and customer satisfaction. Expertise in providing the solution in Computer Science, Management, Accounting, English, Statistics, and Maths.
Also, do website designing and Programming.
Having 7 yrs of Project Management experience.
100% satisfactory answers.
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Auditing A Practical Approach with Data Analytics
ISBN: 978-1119401742
1st edition
Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton
Question Posted:
Students also viewed these Business questions
-
Explain the relationship between SOX and COSO.
-
Examine the tests of controls and substantive tests of transactions results, including the sampling application in Case 18-32, for Ward Publishing Company. Assume that you have already reached...
-
Distinguish between tests of controls and substantive testing.
-
What are the "two main lines" of distortion of the view of Marx and what does Lenin think the proper view?
-
Data Services Corp. just paid a dividend of $2.25 a share (i.e., D0 = $2.25). The dividend is expected to grow 8% a year for the next 3 years, and then 10% a year thereafter. What is the expected...
-
Investment Comparison Suppose that when TMCC offered the security for $24,099 the U.S. Treasury had offered an essentially identical security. Do you think it would have had a higher or lower price?...
-
Know what skills are essential for eff ective leadership
-
Dew Hats Inc. manufactures three different styles of hats: Vogue, Beauty, and Glamour. Dew expects to incur $576,000 of overhead cost during the next fiscal year. Other budget information follows:...
-
Can you think of any major disadvantages to dollarization? How would a central bank work in a country that has dollarized
-
As operations manager of Holz Furniture, you must make a decision about adding a line of rustic furniture. In discussing the possibilities with your sales manager, Steve Gilbert, you decide that...
-
a. Information gathering: Prepare a list of questions that the auditors would ask MSI managers regarding how the impairment loss was determined. b. Analysis and evaluation: Comment on the level of...
-
If an auditor performs tests of controls and determines that the control is not effective, what should the auditors next step in testing controls be? a. Document the results of tests of controls and...
-
Boston Depot sells office supplies to area corporations and organizations. Tom Delayne, founder and CEO, has been disappointed with the operating results and the profit margin for the last two years....
-
Lucy is using a one-sample test based on a simple random sample of size = 24 to test the null hypothesis = 23.000 cm against the alternative hypothesis < 23.000 cm. The sample has mean 22.917 cm and...
-
A motorcyclist of mass 60 kg rides a bike of mass 40 kg. As she sets off from the lights, the forward force on the bike is 200N. Assuming the resultant force on the bike remains constant, calculate...
-
A load downward load P = 400 N is applied at B. It is supported by two truss members with member BA at an angle of 0 = 45 from horizontal and member BC at an 01 = angle of 02 25 from vertical....
-
Gross profit, defined as Net sales less Cost of products sold increased by $279 million in 2017 from 2016 and decreased by $2 million in 2016 from 2015. As a percent of sales, gross profit was 38.8%...
-
An electro-magnetic shield is to be made of galvanized steel with conductivity = 1.74 x 106 S/m, and magnetic permeability HR = 80. The thickness of cold rolled steel is in the following table. Gauge...
-
Refer to Exercise 41. The study also estimated that 67% of adults aged 1829 play video games, but only 25% of adults aged 65 and older play video games. a. Explain why you do not have enough...
-
suppose a nickel-contaminated soil 15 cm deep contained 800 mg/kg Ni, Vegetation was planted to remove the nickel by phytoremediation. The above-ground plant parts average 1% Ni on a dry-weight bas...
-
Discuss the communication process in relation to a producers promotion of an accessory productsay, a new electronic security system businesses use to limit access to areas where they store...
-
If a company wants its promotion to appeal to a new group of target customers in a foreign country, how can it protect against its communications being misinterpreted?
-
Promotion has been the target of considerable criticism. What specific types of promotion are probably the object of this criticism? Give a particular example that illustrates your thinking.
-
What is the price of a five-year bond with an 8% coupon and a 10% yield to maturity assuming annual coupon payments
-
CROSS RATES Suppose the exchange rate between the U.S. dollar and the Swedish krona was 6 krona = $1, and the exchange rate between the dollar and the British pound was 1 = $1.85. What would be the...
-
0 Suppose that two different studies (A and B) have the same sample sizes in e four groups, with similar standard deviations in the four groups. Furthermore sample sizes and sample SDs are also the...
Study smarter with the SolutionInn App