Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Question
Chapter 16, Problem 13RQ
To determine
Explain should the auditors make a complete review of all correspondence in the client’s files.
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Do you know what the auditor's current audit documentation files contain?
Is it OK to give the client copies of the auditor's previous documents? If so, what should the auditors look for before giving the documentation to the client? At least three things.
When reviewing a current audit file, what should you look for?
Chapter 16 Solutions
Principles Of Auditing & Other Assurance Services
Ch. 16 - Prob. 1RQCh. 16 - Prob. 2RQCh. 16 - Identify three items often misclassified as...Ch. 16 - Prob. 4RQCh. 16 - Prob. 5RQCh. 16 - Prob. 6RQCh. 16 - Prob. 7RQCh. 16 - Prob. 8RQCh. 16 - Prob. 9RQCh. 16 - What safeguards should be employed when the...
Ch. 16 - You are asked by a client to outline the...Ch. 16 - Prob. 12RQCh. 16 - Prob. 13RQCh. 16 - Prob. 14RQCh. 16 - Prob. 15RQCh. 16 - What are loss contingencies? How are such items...Ch. 16 - Prob. 17RQCh. 16 - Prob. 18RQCh. 16 - Prob. 19RQCh. 16 - What is the meaning of the term commitment? Give...Ch. 16 - Prob. 21RQCh. 16 - What are subsequent events?Ch. 16 - Describe the manner in which the auditors evaluate...Ch. 16 - Prob. 24RQCh. 16 - Prob. 25RQCh. 16 - Prob. 26RQCh. 16 - In your audit of the financial statements of Wolfe...Ch. 16 - Prob. 28QRACh. 16 - Prob. 29QRACh. 16 - Prob. 30QRACh. 16 - Prob. 31QRACh. 16 - The auditors opinion on the fairness of financial...Ch. 16 - Prob. 33QRACh. 16 - Prob. 34QRACh. 16 - Prob. 35QRACh. 16 - Prob. 36QRACh. 16 - Prob. 37AOQCh. 16 - Prob. 37BOQCh. 16 - Prob. 37COQCh. 16 - When auditing the statement of cash flows, which...Ch. 16 - The search for unrecorded liabilities for a public...Ch. 16 - The aggregated misstatement in the financial...Ch. 16 - Prob. 37GOQCh. 16 - Prob. 37HOQCh. 16 - Prob. 37IOQCh. 16 - Prob. 37JOQCh. 16 - Prob. 37KOQCh. 16 - Which of the following events occurring on January...Ch. 16 - Prob. 38OQCh. 16 - Prob. 39OQCh. 16 - Prob. 40OQCh. 16 - Match the following terms to the appropriate...Ch. 16 - Prob. 42OQCh. 16 - Prob. 43PCh. 16 - Prob. 44PCh. 16 - Prob. 45PCh. 16 - Prob. 46PCh. 16 - Prob. 47PCh. 16 - Prob. 48PCh. 16 - The audit staff of Adams, Barnes Co. (ABC), CPAs,...Ch. 16 - Prob. 50RDC
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Similar questions
- Is it allowed to send copies of the auditor's earlier paperwork to the client? If yes, are there any special criteria that auditors should review prior to delivering the client's documentation? At least three things should be mentioned.arrow_forwardWhat should be the major emphasis in auditing the retainedearnings account? Explain your answer.arrow_forwardList the management reports and computer files that can be used for audit evidence. What information in them can be useful to auditors?arrow_forward
- A document which the auditor receives from client ,but which was prepared by someone outside the client's organization is an ?arrow_forwardWhat sources of information can auditors use in connection with deciding whether to accept a new client?arrow_forwardExplain what is meant by lapping and discuss how the auditorcan uncover it. Under what circumstances should the auditor make a special effort touncover lapping?arrow_forward
- The client and the auditor usually agree that some schedules, analyses, reconciliations, and computations are to be prepared by the client's staff for submission to the auditor. TRUE OR FALSE? WHY?arrow_forwardWhy is it necessary for internal auditors to have a basic knowledge of various bsuiness processes?arrow_forwardIn gathering evidence to conduct an audit, it is important for the following information: identification of the name of the client, period covered, description of the contents, initial of the preparer, date of the preparation, and an index code. explain why it is important for these items to be included in the evidence gathering.arrow_forward
- discuss why it is important to have written procedures—and how does the internal audit function work?.arrow_forwardIs it permissible to provide the customer copies of the auditor's previous paperwork? If so, are there any other factors that auditors should consider before presenting client documentation? At the very least, three points should be made.arrow_forwardWhat is ownership of and right of access to documentation? Why do you think that in the audit documentation should have the following information: the file reference of the working paper, the name of the reviewer, the date of the review, the source of information and the conclusions drawn?arrow_forward
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