Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that you have finished your substantive analytical procedures in the area of revenue. You used trend analysis and a reasonableness test and conducted the

Assume that you have finished your substantive analytical procedures in the area of revenue. You used trend analysis and a reasonableness test and conducted the procedures at a disaggregated level. You are very pleased that your expectation is almost identical to what the client has recorded. Specifically, revenue increased in line with prior period increases and with the industry increases. You let your senior know that you likely do not have any additional work to perform. Your senior asks you to reconsider your conclusion. What is likely the concern of your senior?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Financial Accounting Information The Alternative to Debits and Credits

Authors: Gary A. Porter, Curtis L. Norton

7th Edition

978-0-538-4527, 0-538-45274-9, 978-1133161646

Students also viewed these Accounting questions

Question

1. Describe the Good Lives Model of offender rehabilitation

Answered: 1 week ago