BSM482 FALL 2018 AUDITING HOMEWORK 3 NAME: CHAPTER 5-Audit Evidence & Documentation actions and disclowares a Heslily who makes these ansetions LO51 4 Marice Wawee& Co, CPAs, is planning s nlit procederes for its sests of the walaation of espectively ngained LO54 n an audit of financial statiements, the nditors gather vario types of adis evidence. Lis even major tpes of evidence and provide a prxcedural esample ol ech 5-3,456 Comme e the liahilay of each of the fellowing examples of and evidence. Amange your anwwer in the form of a sparac paragraph or each itcn. Explais fully the onin d Response from customer of cli addressed to anditonsoffice confining amount owed at halance sheet 3) Near the end of the aadi List and describe loar techniqaes that may be ned by the ios in developing especta a The tc of inventory tumover (atio of cost of goods sold to average inventory) has declined from the prior year's rale The unber of days sales in accouns receivable has incraned over the pro year What ane the ojoctives of the clione's nepresentaion tr Seleut thhe besaw or each of he following ionExplain the reasons for your selection 2) Complicieness off recorded anscts and lubilines 3) Valuation of assets and liabilities LO S-2 (1) Operating reults fha ane highly seitive to ecosomis facons To remind the client's manapement of its primary neponsibiliy for the fmancia d Which of the folkowing sialements besil desories why dinos investigate related part ) The bstance of nelated party transactions muay diffor from heir form (4) Relaed party LO 5-3 BSM482 FALL 2018 AUDITING HOMEWORK 3 NAME: CHAPTER 5-Audit Evidence & Documentation actions and disclowares a Heslily who makes these ansetions LO51 4 Marice Wawee& Co, CPAs, is planning s nlit procederes for its sests of the walaation of espectively ngained LO54 n an audit of financial statiements, the nditors gather vario types of adis evidence. Lis even major tpes of evidence and provide a prxcedural esample ol ech 5-3,456 Comme e the liahilay of each of the fellowing examples of and evidence. Amange your anwwer in the form of a sparac paragraph or each itcn. Explais fully the onin d Response from customer of cli addressed to anditonsoffice confining amount owed at halance sheet 3) Near the end of the aadi List and describe loar techniqaes that may be ned by the ios in developing especta a The tc of inventory tumover (atio of cost of goods sold to average inventory) has declined from the prior year's rale The unber of days sales in accouns receivable has incraned over the pro year What ane the ojoctives of the clione's nepresentaion tr Seleut thhe besaw or each of he following ionExplain the reasons for your selection 2) Complicieness off recorded anscts and lubilines 3) Valuation of assets and liabilities LO S-2 (1) Operating reults fha ane highly seitive to ecosomis facons To remind the client's manapement of its primary neponsibiliy for the fmancia d Which of the folkowing sialements besil desories why dinos investigate related part ) The bstance of nelated party transactions muay diffor from heir form (4) Relaed party LO 5-3
