The following are common tests of details of balances or substantive analytical procedures for the audit of accounts receivable: 1. Select 20 customer accounts from the accounts receivable master file and trace to the aged accounts receivable listing to verify name and amount. 2. Select 20 customer accounts from the aged accounts receivable listing and […]
The following questions deal with confirmation of accounts receivable. Choose the best response. a. The return of a positive confirmation of accounts receivable without an exception attests to the (1) collectibility of the receivable balance. (2) accuracy of the allowance for uncollectible accounts. (3) accuracy of the aging of accounts receivable. (4) accuracy of the […]
The following questions concern analytical procedures in the sales and collection cycle. Choose the best response. a. As a result of analytical procedures, the auditor determines that the gross profit per- centage has declined from 30 percent in the preceding year to 20 percent in the cur- rent year. The auditor should (1) express a […]
Personal and Interpersonal Barriers are addressed beginning on page 47 of the Four Skills of Cultural Diversity Competence Book. a). After reading Barriers to Effective Relationships: Case of the Green-Haired People, address ALL SIXBarriers and explain HOW they are evident in the case of the green haired people. (pg. 57). *Personal/Interpersonal Barriers (1-5) *Organizational/Institutional Barrier […]
METHODOLOGY FOR DESIGNING TESTS OF DETAILS OF BALANCES Describe the methodology for designing tests of details of balances using the auditrisk model.
The sampling data sheet below is missing selected information for six attributes involving tests of transactions for the sales and collection cycle. Planned Audit Actual Results Attributes EPER TER ARO Initial Sample Size Sample Size Number of Exceptions CUER Attribute 1 0% 6% 5% 49 50 1 ____ Attribute 2 0% 4% ___ 74 80 […]
The following are auditor judgments and attributes sampling results for six populations. Assume large population sizes. 1 2 3 4 5 6 EPER (in percent) 2 0.5 1 0 2 5 TER (in percent) 6 4 20 3 8 10 ARO (in percent) 10 5 10 5 5 10 Actual sample size 100 100 20 […]
The following questions concern audit sampling. Choose the best response. a. An advantage of statistical sampling over nonstatistical sampling is that statistical sampling helps an auditor (1) minimize the failure to detect errors and fraud. (2) eliminate the risk of nonsampling errors. (3) design more effective audit procedures. (4) measure the sufficiency of the audit […]
Should I Report the Biased Remarks of a Campus Cop?” TASK: For this paper you will need to carefully examine an argument and assess the effectiveness of its use of ethos and pathos. APPROACH: An effective argumentative essay has a clear point. However, it will also seek to establish grounds for credibility and to appeal […]
The following questions deal with internal controls in the sales and collection cycle. Choose the best response. a. Which of the following controls would be most effective in detecting a failure to re- cord cash received from customers paying on their accounts? (1) A person in accounting reconciles the bank deposit to the cash receipts […]
