Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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What are the purposes of the scope paragraph under the auditor’s
responsibility in the auditor’s report? Identify the most important information included
in the scope paragraph.
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- The overall objectives of the auditor. in conducting an audit of financial statements, are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. thereby enabling the auditor to express an opinion on whether the financial statements are presented fairly, in all material respects. in accordance with an applicable accounting framework: and report on the financial statements. and communicate as required by GAAS. in accordance with the auditor's findings. Discuss the differences between errors, frauds, and illegal acts. Give an example of each.arrow_forwardgenerate summary of thisarrow_forwardPLS HELP ASAParrow_forward
- 1. How COSHH affects your Company. 2. Who in your Company Deals with COSHH and where are the COSHH Data Sheets kept. 3. List 10 products within your company that are governed by COSHH and scan the COSHH Data Sheets into this document. 4. Explain each area of the Data sheets that you attach.arrow_forwardDiscuss the essential elements of a good audit document. a) Sufficient b) Relevant c) Reliablearrow_forwardWhat are the steps an accountant might go through in making the decision of whether and how to be a 'whistleblower' regarding a perceived unethical practice of his or her employer, which is a reputable accounting firm.arrow_forward
- Part (a). You are working as an accountant in XYZ Limited (a mid-size accounting firm with a reasonable range of clients). Currently, you ask the employees to provide the relevant information to initiate the planning phase of the audit. Further, you plan to draw the data from analytical reviews and substantive testing from the operational database. However, the management of your client wants you to draw the data from the data warehouse. The management argues that the data extracted from the operational database will disrupt the operations. Further, the management points out that operational data are copied weekly into the data warehouse, and all data you need are contained there. Required: We have discussed the operational database and data warehouse under the topic "ERP Core Applications" in the Week 10 Interactive Tutorial. Based on this discussion, outline your response to the management's proposal and mention any concerns you might have. Part (b). Production planning and…arrow_forward4.2 - The evidence that is gathered by an auditor plays a crucial role in the results of the audit and the recommendations that are provided to management. There are TWO (2) attributes with regard to evidence that an auditor will need to meet before concluding the audit. What are these attributes and why are they important?arrow_forwardState the three types of inquiries and explain their purpose when used by an auditor to gather additional information about a suspected fraud.arrow_forward
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