Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

estion 2: d. Lucky you new audit senior._Your boss, the audit manager for Ibex Inc. also want you to re-write the audit program for the

image text in transcribed

estion 2: d. Lucky you new audit senior._Your boss, the audit manager for Ibex Inc. also want you to re-write the audit program for the current year 2018. Ibex's year end is December 31 e. A number of changes occurred in late 2017 and early 2018 regarding internal control procedures at the_company and believe all for the good in that internal control, via management's assertion, are stronger and more reliable. of course, Ibex thinks the audit can now be performed in less time and Ibex already asked the manager Can we expect a reduction in our fees?" f. Thus, you are tasked with updating the audit program regarding testing controls in the revenue and collection cycle. The audit manager and you will be meeting with the client to discuss, among other things, audit fees, scopc of work, timing of the work, etc g. Requirements 1. Prepare an audit plan, in good form, entitled: Ibex Inc. Tests of Controls Revenue and Collection Cycle. It is now May 1, 2018. The client's year- end and the audit date are December 31, 2018. Use the supplied audit work program forms 2. Discuss the importance of sending confirmation lcttcrs to customers How would you go about this task

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Essentials Of Xbrl Financial Reporting In The 21st Century

Authors: Bryan Bergeron

1st Edition

0471220779, 978-0471220770

More Books

Students also viewed these Accounting questions