In an audit of the Marco Corporation as of December 31, 2019, the following situations exist. No entries have been made in the accounting records in relation to these items. 1. During the year 2019, the Marco Corporation was named as a defendant in a suit for damages by the Dalton Company for breach of […]
You are doing the first-year audit of Sherman School District and have been assigned responsibility for doing a four-column proof of cash for the month of October 2019. You obtain the following information: In-class Discussion Required *Based on AICPA question paper, American Institute of Certified Public Accountants. 778Part 4 / APPLICATION OF THE AUDIT PROCESS […]
In auditing the valuation of inventory, the auditor, Claudette Perrier, decided to use difference estimation. She decided to select an unrestricted random sample of 80 inventory items from a population of 1,840 that had a book value of $175,820. Perrier decided in advance that she was willing to accept a maximum misstatement in the population […]
The Salah Company sells electronics equipment and has grown rapidly in the last year by adding new customers. The audit partner has asked you to evaluate the allowance for doubtful accounts at December 31, 2019. Comparative information on sales and accounts receivable is included next: Year Ended Year Ended 12/31/19 12/31/18 Sales $12,169,876 $10,452,513 Accounts […]
1. What is the role of the Public Company Accounting Oversight Board? 2. What roles are played by the American Institute of Certified Public Accountants for its members? 3. Describe the relations among international auditing standards, AICPA auditing standards, and PCAOB auditing standards.
1. What is the role of the Public Company Accounting Oversight Board? 2. What roles are played by the American Institute of Certified Public Accountants for its members? 3. Describe the relations among international auditing standards, AICPA auditing standards, and PCAOB auditing standards.
