Question

How can governmental and internal auditors try to achieve objectivity when developing conclusions
about economy, efficiency, or program results?

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Auditing

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: Why might a moral person who is not viewed as a moral manager fail to establish an ethical culture i...

A: Business Ethics:   It is a form of professional ethics that stresses on the moral obligations of an ...

Q: Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller)...

A: Perpetual Inventory System: Perpetual Inventory System refers to the inventory system that maintains...

Q: Why should the person who keeps the records of an asset not be the person responsible for its custod...

A: Click to see the answer

Q: Shankar Company uses a perpetual system to record inventory transactions. The company purchases 1,50...

A: Given information is: Shankar Company uses a perpetual system to record inventory transactions. The ...

Q: Explain discretionary access privileges.

A: In discretionary access privilege, the proprietor of the item indicates which subjects can get to th...

Q: Principles of Financial Accounting- 3.3 From the following list, identify which items are considered...

A: Original source of documents is the document which supports or substantiates the transactions record...

Q: What accounts are affected by closing entries? What accounts are not affected?

A: Closing entries are done at the end of accounting period to close all the temporary accounts and tra...

Q: On January 1, 2020, Grouper Company purchased 12% bonds having a maturity value of $350,000, for $37...

A: The below journal entries are passed to show the treatment of interest revenue and premium amortizat...

Q: A corporation has 100,000 shares of 4% preferred stock outstanding. Also, thereare 100,000 shares of...

A: Given information is: A corporation has 100,000 shares of 4% preferred stock outstanding. Also, ther...

Q: Simko Company issued $600,000, 10-year, 5 percent bonds on January 1, 2015. The bonds wereissued for...

A: Payment of interest = Face value of bonds x rate of interest x time = $600,000 x 5% = $30,000 Total ...

Q: Required 1. Prepare an income statement and a statement of owner’s equity for the year and a classif...

A: Hey, since there are multiple questions posted, we will answer first question. If you want any speci...

Q: Usefulness of income statement and cash flow statement for the invsetors

A: Definition: Income statement: Income statement is a financial statement that shows the net income or...

Q: Indicate the most likely effect of the following changes in credit policy on the receivables turnove...

A: Click to see the answer

Q: On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Ivanhoe Corp....

A: Convertible Debentures: A debenture holder is a creditor of the company.Any debenture is a long term...

Q: Motorola is a world leader in the development of cellular phone technology. During the year, the com...

A: Given case is: Motorola is a world leader in the development of cellular phone technology. During th...

Q: Duringthe most recent year, Smither Travelers Co. bought 3,400 shares of German Corporation common s...

A: Stock: It refers to a security issued in a form of certificate. It implies the right of ownership of...

Q: Briefly describe how mean-per-unit estimation, ratio estimation, and difference estimation areused t...

A: Classical Variable Sampling: Classical variable sampling uses each individual item in the populatio...

Q: Bankers who are processing loan applications from companies seeking large loans willprobably ask for...

A: Given case is: Bankers who are processing loan applications from companies seeking large loans willp...

Q: Prepare general journal entries for the following transactions of Valdez Services. a. The company pa...

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...

Q: Im always stuck on my homework because im not sure how to calculate the order of operations in my ca...

A: Definition: Present value: Present value refers to the present worth of the money that is received i...

Q: Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of ...

A: Depreciation is decrease in the value of assets over time due to normal wear and tear. There are man...

Q: The Loft Etc. Store near the Academy of Arts sells all sorts of academic supplies and university mem...

A: Since we answer up to 3 sub-parts, we'll answer the first 3. Please resubmit the question and specif...

Q: how to correct a credit invoice (issued by the business) has not been recorded at all?

A: When customers return goods due to various reasons like damaged goods within the warranty period, pu...

Q: Taryn would like to open a new business as an interior designer, to funds her ambition she sold some...

A: A capital gain tax refers to the tax levied on the profits realized from the sale of items other tha...

Q: A cell phone company offers two different plans. Plan A costs $96 per month for unlimited talk and t...

A: Cost-based decisions: When any person, firm, or company not have the profit-related data than its de...

Q: Why do companies offer a cash discount?

A: Click to see the answer

Q: If you are the CEO and you give your employees a bonus at the end the year, according to their net i...

A: The CEO of the company should always aim for lower expenses hence the CEO should aim for lower bonus...

Q: Attached below is my homework question and the Bartleby Answer. I don't understand why the answer is...

A: Cash flow from operating activities =$  50,000   Net Income = $ 115,000

Q: Auditing standards require that a “brainstorming” session should be held at the beginning of each au...

A:  

Q: Alexander Company purchased a piece of equipment for $12,000 and depreciated it for three years over...

A: Annual Depreciation  = (Cost of the assets - Residual value) / Expected life of the assets

Q: Russell Co. reports sales revenue of $30,000 and interest revenue of $5,000. Its comparative balance...

A: Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and cas...

Q: What is the variable overhead spending variance?

A: A variance is the deviation between an actual result and an expected result and its impact on the bu...

Q: For each account, indicate whether it appears in the general ledger or the subsidiary ledger Prepaid...

A: We have to indicate whether Prepaid Rent appears in general ledger of subsidiary ledger. 

Q: Placid Lake Corporation acquired 90 percent of the outstanding voting stock of Scenic, Inc., on Janu...

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...

Q: Shaquille Corporation has operating income of $1.7 million, a loss on write-down of inventory of $20...

A: Given information is: Shaquille Corporation has operating income of $1.7 million, a loss on write-do...

Q: What is the purpose of an audit strategy memorandum? What information should it contain?

A: Audit Strategy Memorandum: After the calculation of all financial statement risks, identification o...

Q: Buzz Coffee Shops is famous for its large servings of hot coffee. After a famous case involvingMcDon...

A: Given case is: Buzz Coffee Shops is famous for its large servings of hot coffee. After a famous case...