Questions from Auditing and Assurance

Q: Why does an auditor review sales returns subsequent to year end?

Why does an auditor review sales returns subsequent to year end? What audit objective does this procedure satisfy?

Q: The following questions deal with discovering fraud in auditing year-end

The following questions deal with discovering fraud in auditing year-end cash. Choose the best response. a. Which of the following cash transfers results in a misstatement of cash at December b. The...

Q: The following multiple choice questions concern interest-bearing liabilities. Choose

The following multiple choice questions concern interest-bearing liabilities. Choose the best response. a. Which of the following controls will most likely justify a reduced assessed level of control...

Q: The following is a partial audit program for the audit of sales

The following is a partial audit program for the audit of sales transactions. 1. Foot the sales journal for one month and trace the postings to the general ledger. 2. Review the sales journal for any...

Q: The following questions concern the determination of the proper sample size in

The following questions concern the determination of the proper sample size in audit sampling using the following table: a. Assume that the initial sample size for column 1 using nonstatistical samp...

Q: The questions below relate to determining the CUER in audit sampling for

The questions below relate to determining the CUER in audit sampling for tests of controls, using the following table: Required: a. Using nonstatistical sampling, calculate TER - SER for each of col...

Q: The following are auditor judgments and attributes sampling results for six populations

The following are auditor judgments and attributes sampling results for six populations. Assume large population sizes. a. For each population, did the auditor select a smaller sample size than is i...

Q: This problem requires the use of ACL software, which can be

This problem requires the use of ACL software, which can be accessed through the textbook website. Information about downloading and using ACL and the commands used in this problem can also be found o...

Q: For the audit of the financial statements of Mercury Fifo Company,

For the audit of the financial statements of Mercury Fifo Company, Stella Mason, CPA, has decided to apply nonstatistical audit sampling in the tests of controls and substantive tests of transactions...

Q: The sampling data sheet below is missing selected information for six attributes

The sampling data sheet below is missing selected information for six attributes involving tests of transactions for the sales and collection cycle. Required: a. Use Table 15-8 (p. 519) and Table 15...