Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Textbook Question
Chapter 24, Problem 10RQ
Identify five
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classify the information (1-10)according to the elements of an audit finding (criteria, condition, cause, effect, and recommendations):
Enumerate at least 5 elements of a typical internal audit engagement report. Per element elaborate its purpose and importance.
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Chapter 24 Solutions
Auditing And Assurance Services
Ch. 24 - Prob. 1RQCh. 24 - Explain why an auditor is interested in a clients...Ch. 24 - Prob. 3RQCh. 24 - Prob. 4RQCh. 24 - Prob. 5RQCh. 24 - Prob. 6RQCh. 24 - Prob. 7RQCh. 24 - Prob. 8RQCh. 24 - What major considerations should the auditor take...Ch. 24 - Identify five audit procedures normally done as a...
Ch. 24 - Prob. 11RQCh. 24 - Prob. 12RQCh. 24 - Prob. 13RQCh. 24 - Prob. 14RQCh. 24 - Prob. 15RQCh. 24 - Prob. 16RQCh. 24 - Prob. 17RQCh. 24 - Prob. 18RQCh. 24 - Prob. 19RQCh. 24 - Prob. 20.1MCQCh. 24 - Prob. 20.2MCQCh. 24 - Prob. 20.3MCQCh. 24 - Prob. 21.1MCQCh. 24 - Prob. 21.2MCQCh. 24 - Prob. 21.3MCQCh. 24 - Prob. 22.1MCQCh. 24 - Prob. 22.2MCQCh. 24 - Prob. 22.3MCQCh. 24 - Prob. 23.1MCQCh. 24 - Prob. 23.2MCQCh. 24 - Prob. 23.3MCQCh. 24 - Prob. 24DQPCh. 24 - Prob. 25DQPCh. 24 - Prob. 26DQPCh. 24 - Prob. 28DQPCh. 24 - Prob. 29DQPCh. 24 - Prob. 32DQPCh. 24 - Prob. 33DQP
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- Based on the information in scenario C, classify the information (1-8) according to the elements of an audit finding (criteria, condition,cause, effect and recommendations)arrow_forwardIn which stage of audit the audit program will be created ? a. Fieldwork b. Reporting c. Planning d. Followuparrow_forwardBelow are five audit procedures, all of which are tests of transactions associated with the audit of the acquisition and payment cycle. Also below are the six general transaction-related audit objectives and the five management assertions. For each audit procedure, indicate (1) its audit objective, and (2) the management assertion being tested. Audit Objectives: A. Occurrence B. Completeness C. Accuracy D. Posting and Summarization E. Classification F. Timing Management Assertions: V. Occurrence W. Completeness X. Accuracy Y. Classification Z. Cutoff Audit Procedures 1. Foot the purchases journal and trace the totals to the related general ledger accounts. __________________ ______________________ 2. Recompute the cash discounts taken by the client. _____________________ _________________________ 3. Compare dates on cancelled checks with the bank cancellation date. _________________ __________________________ 4. Trace from a sample of cancelled checks to the…arrow_forward
- What are the six stages of an audit?arrow_forwardPlease provide the type of audit procedures that was performed in the following aarrow_forwarddefines and describes each audit procedure 1. Physical examination 2.Confirmation 3.Inspection 4.Analytical procedures 5. Inquiry/interrogation 6.Recalculation 7.Perform again (reperform) 8.Observationarrow_forward
- Identify and then briefly explain the eight general audit procedures used to gather evidence.Next, please provide an example for each of the eight procedures.arrow_forwardState five strategies to ensure the EKSA implementation meets the auditing elements.arrow_forwardBriefly describe the five phases in the audit opinion formulation process. Include in each description the relationship to the previous and/or subsequent phase.arrow_forward
- The auditor should summarize the overall audit strategy that contains the key decisions about the scope, timing, and conduct of a. Audit plan O b. Note. C ..Review working papers d. Audit memo bookarrow_forwardChoose 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 optionsarrow_forwardWhere the auditor should summarize the overall audit strategy that contains the key decisions about the scope, timing and conduct of the audit a. Audit plan b. Memorandum c. Audit working papers d. Audit Note bookarrow_forward
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