When the financial statements are on a GAAP basis and the de s car certainty that is disclosed raises substantial doubt the effect on the audit report is likely to be 2 a qualified or adverse spinion because the basis of accounting is wrong a qualified or disclaimer af opinion because of the uncertainty c a n modified opinion with an emphasis-of-a-matter paragraph a standard unmodified report with an unmodified opinion provided the disclosure is adequate AL W hen management changes inventory methods from FIFO to UFO and the method and disclosures are appropriate the effect on the audit report is a standard report with an emphasis-of-a-matter paragraph a qualified opinion with an emphasis-of-a-matter paragraph a standard report with no additional paragraphs, but a reference to the change one of the above 12. The fraud that resulted in observing the physical inventory count as a requirement of auditing standards is McKesson & Robbins Phar-Mar Crary Eddie Tyson Foods Inspecting loans and other agreements for the use of inventory as collateralis most directly related to the assertion of Existence Completeness Valuation Presentation and Disclosure 4. The auditor's approach to verify the wistence of inventory consists of Inquiry of client personnel Observation of client personnel Test counts of inventary on All the above 45. A critical aspect of preventing the client from falsifying the inventory count is Being skeptical about responses to inquiries concerning investory instructions Scrutiniting the work of any outside inventory specialists engaged by the client Inspecting CC Alings related to inventory Knowing which tag numbers and count sheets were used at the end of the count Auditing an edustment of the inventary on the count date by testing intervening receiving and shipping transactions is necessary when The client takes a wall-to-wall inventory at the balance sheet date The client's count occurs before or after the balance sheet date The aim's perpetual inventory records are not accurate at the balance sheet date The physical inventory count superviser does not property perform his or her duties 47. The amount of stock certificates issued and outstanding for a public company are confirmed with registrar stockholders custodian corporate secretary 46 Catewating interest expense by multiplying average debt outstanding by average interest rate and comparing to recorded in vel type of audit procedure primarily designed to test the assertion for det analytical procedure, completeness analytical procedure, valuation test of details, completeness test of details, existence Auditors festa company's compliance with loan covenants primarily to obtain evidence related to the a rtion of existence completeness valuation presentation and disclosure Considering the relationship of the accounts receivable balance to the totals of recorded sales and inventaris When the financial statements are on a GAAP basis and the de s car certainty that is disclosed raises substantial doubt the effect on the audit report is likely to be 2 a qualified or adverse spinion because the basis of accounting is wrong a qualified or disclaimer af opinion because of the uncertainty c a n modified opinion with an emphasis-of-a-matter paragraph a standard unmodified report with an unmodified opinion provided the disclosure is adequate AL W hen management changes inventory methods from FIFO to UFO and the method and disclosures are appropriate the effect on the audit report is a standard report with an emphasis-of-a-matter paragraph a qualified opinion with an emphasis-of-a-matter paragraph a standard report with no additional paragraphs, but a reference to the change one of the above 12. The fraud that resulted in observing the physical inventory count as a requirement of auditing standards is McKesson & Robbins Phar-Mar Crary Eddie Tyson Foods Inspecting loans and other agreements for the use of inventory as collateralis most directly related to the assertion of Existence Completeness Valuation Presentation and Disclosure 4. The auditor's approach to verify the wistence of inventory consists of Inquiry of client personnel Observation of client personnel Test counts of inventary on All the above 45. A critical aspect of preventing the client from falsifying the inventory count is Being skeptical about responses to inquiries concerning investory instructions Scrutiniting the work of any outside inventory specialists engaged by the client Inspecting CC Alings related to inventory Knowing which tag numbers and count sheets were used at the end of the count Auditing an edustment of the inventary on the count date by testing intervening receiving and shipping transactions is necessary when The client takes a wall-to-wall inventory at the balance sheet date The client's count occurs before or after the balance sheet date The aim's perpetual inventory records are not accurate at the balance sheet date The physical inventory count superviser does not property perform his or her duties 47. The amount of stock certificates issued and outstanding for a public company are confirmed with registrar stockholders custodian corporate secretary 46 Catewating interest expense by multiplying average debt outstanding by average interest rate and comparing to recorded in vel type of audit procedure primarily designed to test the assertion for det analytical procedure, completeness analytical procedure, valuation test of details, completeness test of details, existence Auditors festa company's compliance with loan covenants primarily to obtain evidence related to the a rtion of existence completeness valuation presentation and disclosure Considering the relationship of the accounts receivable balance to the totals of recorded sales and inventaris
