What are analytical procedures? Describe how they can be used as substantive tests in an audit.

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing A Practical Approach

ISBN: 978-1742165943

1st Canadian Edition

Authors: Robyn Moroney

See More Books

Question Posted: Mar 11, 2016 02:35 AM

See More Questions

(a) What are the advantages of using analytical procedures as substantive tests? (b) If the engagement team decides to use analytical procedures for the Bees' audit, how will the audit plan differ...
MULTIPLE-CHOICE QUESTIONS 1. The auditor is testing the operating effectiveness of controls in the revenue cycle and notes the following: (a) the organization does not regularly follow its credit...
MULTIPLE-CHOICE QUESTIONS 1. Which of the following statements best describes what is meant by the term appropriateness of audit evidence? a. Appropriateness is a measure of the quality of audit...
The Fisher Apparel Company balance sheet for the year ended 2006 is as follows: a. What is Fisher's investment in current assets? b. Determine Fisher's working capital investment. c. Determine...
Read the article 19 Ways to Build Physical Security into a Data Center, Which appeared in the CSO Magazine November 2005. Which methods would you expect to find used by almost any major corporation?...
A solid sphere of radius R carries a nonuniform volume charge density = 0 e r/R , where 0 is a constant and r is the distance from the center. Find an expression for the electric field strength at...
Which of the following is not an approach for conducting a needs assessment? A. Observation B. Case study C. Task identification D. Employee surveys
Surfs Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions): Based on these amounts, calculate the following ratios for 2015: 1. Debt to...
2. What is the purpose of preparing the trading and profit and loss accounts?.if I am not satisfy I give downvote
Consider the following income tax footnote information for Oracle for the fiscal year ended May 31, 2019 (fiscal year 2019). The following is a geographical breakdown of income before the provision...
What are substantive procedures designed to obtain evidence about? What are the main types of substantive procedures?
What conditions must be satisfied before we can regard evidence from analytical procedures as persuasive rather than corroborative or minimal? Why are these conditions important?
A square plate of side 3 m is submerged in water at an incline of 30 with the horizontal. Calculate the fluid force on one side of the plate if the top edge of the plate lies at a depth of 6 m.
What do you think of the gainsharing plan that Harrah's has implemented? How does an employee make more money? How much more money can they make? Is the gainsharing plan motivating employees to...
How do power dynamics within an organization affect employee empowerment and autonomy, and what are the best practices for creating a balanced power structure ?
In thinking about management and incentive structures: What recommendations do you have for the Responsible Innovation team as they seek to better embed responsible innovation within employees'...
How do multinational companies adapt their corporate governance procedures and decisions to accommodate the different national and regional regulatory requirements and business ethics? Requirement: I...
How do "complexity theory" and the concept of "emergent properties" inform our understanding of organizational dynamics, particularly in the context of nonlinear interactions and unpredictable...
True Or False Those who argue that manufacturers should be strictly liable for damages resulting from the sale of their products justify their position on the basis that the modern sophistication of...
What is the expected payoff of an investment that yields $5,000 with a probability of 0.15 and $500 with a probability of 0.85? Select one: O a. $325 O b. $5,500 O c. $2,750 O d. $1,175
Site name: Brinker International URL: www.brinker.com Background information: Brinker International, Inc. is the parent company of a diverse portfolio of casual-dining restaurant concepts. Recognized...
Classification is an important assertion for expenses because: (a) There is often an incentive to overstate expenses. (b) Some expenses are subject to specific disclosure requirements. (c) Vouching...
Comparing the relationship of overhead costs in cost of sales to direct labour is an example of this type of auditing technique: (a) Vouching to original documents. (b) Tracing posting of original...
Comparing the relationship of overhead costs in cost of sales to direct labour is an example of this type of auditing technique: (a) Vouching to original documents. (b) Tracing posting of original...
Given that rJ = 6.3%, rRF = 4.1%, and rM = 9.4%, determine the beta coefficient for Stock J that is consistent with equilibrium.
Simon Companys year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 33,019 $ 37,839 $ 38,623 Accounts receivable, net 93,822 65,556 54,152 Merchandise inventory 117,963 89,253...
PLEASE REFER TO THE 2018 ANNUAL REPORT OF STARBUKS FOR THE YEAR FISCAL YR 2018, ENDING SEPTEMBER 30, 2018. Refer to the management discussion & analysis section and write a one page summary...

What are analytical procedures? Describe how they can be used as substantive tests in an audit.

Question:

Step by Step Answer:

Analytical procedures consist of evaluations of financial information made by a study of plausi...View the full answer

Auditing A Practical Approach

Students also viewed these Auditing questions