This simulation presents an audit request list document for materials requested of management that has been...

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This simulation presents an audit request list document for materials requested of management that has been prepared by an audit team staff member for the Keystone audit. Because this simulation addresses material presented in Chapters 10-13 (plus other general knowledge concerning auditing), we include it here. Note, however, that the information obtained through such an audit request list would be obtained very early in the audit The CPA firm Adams, Bames & Company is preparing for the year 20X5 audit of Keystone Computers & Networks Incorporated (KCN). a calendar year-end nonissuer. An audit staff member started with the 20X4 year audit request list for KCN and updated it as he thought appropriate. Required: Your job as senior on the engagement is to review and revise the year 20X5 request list for KCN as needed. For each of the sentences called out in the points on the document, determine if the current language is appropriate as is, should be removed altogether, or replaced with any of the provided alternatives. Ensure that the 20X5 list is appropriate given the information provided. The materiality for the year 20X5 audit has been set at $300,000. Links to each of the exhibits are provided in the document, but are available in the list below for convenience. Exhibit 1-Excel Spreadsheet-KCN Working Trial Balance Exhibit 2-Memo to Files Exhibit 3-Forwarded Email from Controller to Partner Exhibit 4-Email from Audit Manager to Audit Partner Document (For each Document Callout, choose the correct Determination from the table below.) Keystone Computers & Networks, Inc Year Ended December 31, 20X5 Audit Request List (Draft 1) Please have the materials listed below ready for when we arrive on site. Unless a different date is specifically stated, these documents should be as of and for the year ended December 31, year 20X5 < Prev 14 of 14 Next This simulation presents an audit request list document for materials requested of management that has been prepared by an audit team staff member for the Keystone audit. Because this simulation addresses material presented in Chapters 10-13 (plus other general knowledge concerning auditing), we include it here. Note, however, that the information obtained through such an audit request list would be obtained very early in the audit The CPA firm Adams, Bames & Company is preparing for the year 20X5 audit of Keystone Computers & Networks Incorporated (KCN). a calendar year-end nonissuer. An audit staff member started with the 20X4 year audit request list for KCN and updated it as he thought appropriate. Required: Your job as senior on the engagement is to review and revise the year 20X5 request list for KCN as needed. For each of the sentences called out in the points on the document, determine if the current language is appropriate as is, should be removed altogether, or replaced with any of the provided alternatives. Ensure that the 20X5 list is appropriate given the information provided. The materiality for the year 20X5 audit has been set at $300,000. Links to each of the exhibits are provided in the document, but are available in the list below for convenience. Exhibit 1-Excel Spreadsheet-KCN Working Trial Balance Exhibit 2-Memo to Files Exhibit 3-Forwarded Email from Controller to Partner Exhibit 4-Email from Audit Manager to Audit Partner Document (For each Document Callout, choose the correct Determination from the table below.) Keystone Computers & Networks, Inc Year Ended December 31, 20X5 Audit Request List (Draft 1) Please have the materials listed below ready for when we arrive on site. Unless a different date is specifically stated, these documents should be as of and for the year ended December 31, year 20X5 < Prev 14 of 14 Next