List four ways in which analytical procedures can assist the auditor during the initial (risk assessment) stage
Question:
List four ways in which analytical procedures can assist the auditor during the initial (risk assessment) stage of an audit.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
Analytical procedures are commonly used during the risk assessment phase of an audit to help the aud...View the full answer
Answered By
John Kimutai
I seek to use my competencies gained through on the job experience and skills learned in training to carry out tasks to the satisfaction of users. I have a keen interest in always delivering excellent work
4.70+
11+ Reviews
24+ Question Solved
Related Book For
Principles Of External Auditing
ISBN: 9780470974452
4th Edition
Authors: Brenda Porter, Jon Simon, David Hatherly
Question Posted:
Students also viewed these Business questions
-
List four ways in which analytical procedures can assist the audits during the initial (risk assessment) stage of an audit.
-
Analytical procedures are extremely useful throughout the audit. a. Explain how analytical procedures are useful in: (1) The risk assessment stage of the audit. (2) The substantive procedures stage...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
1. Locate a current financial news article using a source such as the following: a. www.reuters.com; b. www.yahoo.com/finance; c. http://www.msn.com/en-us/money d. www.bloomberg.com 2. Use the...
-
A 2600-pF air-gap capacitor is connected to a 9.0-V battery. If a piece of Pyrex glass is placed between the plates, how much charge will then flow from the battery?
-
Your company leases a copier. The contract states that you must pay the leasing company Rs.3,000 per year and Rs.0.005 per copy. Required: A. Write the equation to predict estimated total lease cost....
-
The noncontrolling interest account arises on the consolidated balance sheet and is reported as a component of shareholders equity. Many financial analysts, however, regard the account as a component...
-
On January 1, Payne Company issued $200,000, 8%, 10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Instructions Prepare journal entries to record the following....
-
Crane Company had the following operating data for the current year: sales $470000; contribution margin $117000, total fixed costs (controllale) $50000, and average total operating assets, $240000....
-
State the two main phases in planning an audit and outline the main objective(s) of each.
-
(a) Briefly explain the meaning of the term analytical procedures; and (b) outline three ways in which these procedures are used during an audit.
-
Explain why 1 is not a suitable logarithmic base.
-
Define 'Extrinsic' rewards. Explain the link between Extrinsic reward and employee contribution. Define 'Intrinsic' rewards Explain the link between Intrinsic reward and employee contribution....
-
How health care is provided in ONE of these major industrialized nations: Germany, Canada, France, Brazil, Japan and describe their system. Who is covered, how is it paid for, what is and isn't...
-
Draw the structure of the major organic product that forms in each of the following reactions. Specify stereochemistry where appropriate. || CH3CHCH2CH CH3 NaOH CH3CH2OH - H2O warm 1) NaOCH2CH3 (1...
-
Northwood Company manufactures a basketball selling for $25 per unit in a small plant heavily relying on direct labor workers. Thus, variable expenses are high, totaling $15.00 per ball, of which 60%...
-
Differentiate between botany and zoology.? Name sub branches with example of each
-
What causes a gain or loss on the sale of a bond investment?
-
What do you think?
-
Would promotion be successful in expanding the general demand for: ( a ) almonds, ( b ) air travel, ( c ) golf clubs, ( d ) walking shoes, ( e ) high-octane unleaded gasoline, ( f ) single-serving,...
-
Explain how an understanding of the adoption process would help you develop a promotion blend for digital tape recorders, a new consumer electronics product that produces high-quality recordings....
-
Explain how opinion leaders affect a firms promotion planning.
-
If the last year's revenue for Minyards was $31 (in millions) and the growth rate was 7.5%. Calculate the expected revenue for the next year. ceteris paribus. Using the forecasted revenue from above...
-
Match the account on the left with its definition on the right. Drag and drop application. Marketable security Marketable security drop zone empty. Accounts receivable Accounts receivable drop zone...
-
Mark Goldsmith's broker has shown him two bonds. Each has a maturity of 5 years, a par value of $10,000, and a yield to maturity of 13%. Bond A has a coupon interest rate of 7% paid semi-annually....
Study smarter with the SolutionInn App