Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Question
Chapter 14, Problem 17RQ
To determine
Identify the circumstances under which performing tests of control and substantive tests of transactions for sales and cash receipts at an interim date is acceptable.
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Chapter 14 Solutions
Auditing And Assurance Services
Ch. 14 - Describe the following documents and records and...Ch. 14 - Prob. 2RQCh. 14 - Prob. 3RQCh. 14 - Prob. 4RQCh. 14 - Prob. 5RQCh. 14 - Prob. 6RQCh. 14 - Prob. 7RQCh. 14 - Prob. 8RQCh. 14 - Prob. 9RQCh. 14 - Prob. 10RQ
Ch. 14 - Prob. 11RQCh. 14 - Prob. 12RQCh. 14 - Prob. 13RQCh. 14 - Prob. 14RQCh. 14 - Prob. 15RQCh. 14 - Prob. 16RQCh. 14 - Prob. 17RQCh. 14 - Prob. 18RQCh. 14 - Prob. 19RQCh. 14 - Prob. 20.1MCQCh. 14 - Prob. 20.2MCQCh. 14 - Prob. 20.3MCQCh. 14 - Prob. 21.1MCQCh. 14 - An auditor is performing substantive tests of...Ch. 14 - Prob. 22.3MCQCh. 14 - Prob. 23.1MCQCh. 14 - Prob. 23.2MCQCh. 14 - Prob. 23.3MCQCh. 14 - Prob. 24DQPCh. 14 - Prob. 25DQPCh. 14 - Prob. 26DQPCh. 14 - Prob. 27DQPCh. 14 - Prob. 28DQPCh. 14 - Prob. 29DQPCh. 14 - Prob. 30DQPCh. 14 - Prob. 31DQPCh. 14 - Prob. 32DQPCh. 14 - Prob. 33DQPCh. 14 - Prob. 34DQPCh. 14 - Prob. 37ICA
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Similar questions
- What is the purpose of analytical reviews in the audit of revenue cycle accounts? Please give an example.arrow_forwardWhy are the confirmation of payables is not a required audit procedure as it is with receivables?arrow_forwardExplain why an auditor compares the “date of deposit accordingto the books” to the “date of disbursement according to the books” on an interbanktransfer schedule to detect kitingarrow_forward
- What are the steps taken to ensure control over purchases and payments by check?arrow_forwardList the transaction-related audit objectives for the verificationof cash receipts. For each objective, state one internal control that the client can use toreduce the likelihood of misstatements.arrow_forwardExplain the relationships among the initial assessed controlrisk, tests of controls and substantive tests of transactions for cash disbursements, andthe tests of details of cash balances. Give one example in which the conclusions reachedabout internal controls in cash disbursements will affect the tests of cash balancesarrow_forward
- Internal controls associated with the purchases and cash disbursements cycle include: A Separation of duties. B Adequate documentation. C Both separation of duties and adequate documentation. D Neither separation of duties nor adequate documentation.arrow_forwardAn auditor wishes to perform tests of controls on a client's cash disbursements procedures. If the control activities leave evidence, the auditor most likely will test the activities by Multiple Choice confirmation and observation. inquiry and analytical procedures. observation and inquiry. analytical procedures and confirmation. 13arrow_forwardDistinguish among tests of details of balances, tests of controls,and substantive tests of transactions for the sales and collection cycle. Explain how thetests of controls and substantive tests of transactions affect the tests of details of balances.arrow_forward
- How do you asess the risk of material misstatement associated with the audit of cash?arrow_forwardWhich of the following audit procedures is aimed most directly at testing the completeness assertion for accounts payable? Footing the list of accounts payable. Tracing shipping reports after year-end to related customer purchase orders and invoices. Examining underlying documentation for cash disbursements in the period after year-end. Tracing shipping reports issued on or before year-end to related customer purchase orders and invoices.arrow_forwardWhat tools do auditors use to verify the ending balances in the various accounts in the acquisition and payments cycle? Please provide reference(s).arrow_forward
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