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Financial audit Q&A What is the file type of the customer confirmation that is related to the outstanding balance the client has?

Auditing and Assurance Services T321 Which one of the following services provides a moderate level of assurance about the client's financial statements? Select one: O a. review O b. forecasts and projections O c. compliance O d. audit

Which of the following is considered an assurance engagement? Bookkeeping Preparation Compilation Audit

Choose the documents which should be included in the audit documentation a. Summaries of significant matter O b. Issue memoranda O c. Audit program O d. All the options

quickly plz - The auditor shall obtain _____  that the organization have appropriately accounted for related party transaction and made appropriate disclosure of such relationship and transaction Management Representation Absolute assurance Audit evidence Reasonable assurance

5 ___________ is a tool for planning, directing, and controlling the audit work. a. Engagement letter b. Audit programme c. Audit report d. Audit evidence

The use of an audit engagement letter is the best method of assuring the auditor will have which of the following?Select one: a. Cooperation from other auditors b. Auditor will obtain sufficient appropriate audit evidence. c. Access to all books, accounts and vouchers required for audit purpose d. Management representation letter

Information Risk Analyst (IT Controls Audit) will help the organization assess risk controls and their effectiveness for current and future design improvements. To be successful in this career path YOU must be familiar with the concept Information Risk. a. Explain the term ‘information risk’ in your own words. b. Discuss three (3) causes of information risk. c. Discuss the three (3) main ways to reduce information risk. d. Differentiate between ‘assurance services’ and ‘non-assurance services,’ giving examples of each.

Forensic Accounting: Assurance Engagement 1: Expenditure Analysis. Expenditureanalysis is used when fraud has been discovered or strongly suspected and the informationto calculate a suspect’s income and expenditures can be obtained (e.g., asset and liabilityrecords, bank accounts). Expenditure analysis consists of establishing the suspect’s knownexpenditures for all purposes for the relevant period, subtracting all known sources of funds(e.g., wages, gifts, inheritances, bank balances), and identifying the difference as “expenditures financed by unknown sources of income.”The law firm of Gleckel and Morris has hired you. The lawyers have been retained byBlade Manufacturing Company in a case involving a suspected kickback by a purchasingemployee, E. J. Cunningham. Cunningham is suspected of taking kickbacks from MasonVarner, a salesman for Tanco Metals. Cunningham has denied the charges, but LanierGleckel, the lawyer in charge of the case, is convinced the kickbacks have…

career auditing(auditors) two major responsibilities one needs to be in this career. please provide the link or site source.

For each of the descriptions 1-6, match the correct word or phrase from A-H.A. Inspections of tangible assetsB. ConfirmationC. TracingD. VouchingE. InquiryF. External-internal evidenceG. Audit planH. Substantive procedures___ 1. Documentation prepared by independent parties and sent to the client.___ 2. Proceeding forward through the accounting and control system from the evidence to the financial statements.___ 3. Audit of details of transactions and balances.___ 4. Audit procedure that provides compelling evidence of existence.___ 5. Direct correspondence with independent parties.___ 6. A list of audit procedures.

_____ management exists to provide advice and assistance to those responsible for attaining the objectives of the organization. A. Staff B. Risk C. Functional D. Line

Multiple Select Question Select all that apply   Identify the principles of internal control by selecting the correct answers below. (Check all that apply.) Multiple select question. Insure assets. Maintain adequate records. Match revenues with expenses in the same accounting period. Record assets at cost. Apply technological controls. Establish responsibilities. Perform regular and independent reviews. Separate recordkeeping from custody of assets.

What category of control procedures best describes a reconciliation account, such as Accounts Payable? 1)Group of answer choices 2)Detective 3)Application 4)Systems 5)Preventive

Which is not a forensic-type certificate?   A. FASNA.   B. CFE.   C. CRFAC.   D.    MAFF.   A. Gather evidence.   B. Write reports.   C. Assist in investigating fraud.   D. All of the above may be required. Which is not a forensic-type certificate?   A. FASNA.   B. CFE.   C. CRFAC.   D.    MAFF.

A review of how an organization’s management and its operating procedures are functioning with respect to their effectiveness and efficiency in meeting stated objectives. a. External Audit b. Operational Audit c. Cash Audit d. Internal Audit

Financial audit Q&A What is the audit assertion underlying the tracing procedure?

Choose the preliminary engagement activity of an auditor. O a. Establishing an understanding of the term overall audit strategy O b. Assist the management in identifying and evaluating events O c Establishing an understanding of the terms of the engagement O d. Establishing an understanding of the term of audit planning

Management Assertions. Your audit manager has asked you to explain the PCAOB assertions by using an account on the balance sheet at your audit client. For the accounts receivable account, please define each of the PCAOB assertions, using the accounts receivableaccount as a way to illustrate each assertion. You are encouraged to reference Exhibit 1.5 tohelp you answer this question

{Auditing} 25. _________________are tests involved in obtaining evidential matter on items included in an account balance or class of transactions. a. Test of Control b. Analytical procedures c. All the options d. Tests of details

Which control activity is the entity implementing when all purchase orders above S5,000 should be authorized by a responsible senior ? Select one a. Adequate documents and records b. Independent checks on performance c. Proper authorization of transactions and activities d. Physical control over assets and records