Which of the following is not considered to be an analytical procedure?Multiple ChoiceComparisons of financial statement amounts with source documents.Comparisons of financial statement amounts with budgeted amounts.Comparisons of financial statement amounts with nonfinancial data.Comparisons of financial statement amounts with comparable prior year amounts

Answer: Comparisons of financial statements accounts with source documents

Answered: Which of the following is not…

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Completing A Quality Audit

Section: Chapter Questions

Problem 19CYBK

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Similar questions

Which of the following is true regarding the organization of the comprehensive annual financial report?a. The three major sections are introductory, financial, and statistical.b. The management’s discussion and analysis is considered to be part of the introductory section.c. The auditor’s report is considered to be part of the statistical section.d. Basic financial statements include the government-wide statements, the budgetary statement, and the notes to the financial statements.
Which of the following outcomes is NOT a desired outcome of a financial audit? Test internal controls Examine completeness of financial records Assess legality of transactions Evaluate public opinion of the budget
Which of the following would typically not be included in the introductory section of a comprehensive annual financial report? Multiple Choice Title and contents page. Letter of transmittal. A description of the government. Summary of the government's current financial position and results of financial activities.
What impact does the use of the modified approach have on reporting within the government-wide financial statements?
Which of the following audit procedures is least effective for detecting unrecorded long-term debt at the balance sheet date? Question options: Confirming long-term debt. Confirming cash. Testing cash disbursements in the subsequent year. Analyzing the ratio of current interest expense to average long-term debt.
Name differences in accounting and financial reporting for the federal government by examining the government - wide annual report.
Suggest, as a budget accountant, what procedures you would advise in order to minimize the likelihood of such biased estimate arising.
12. When a practitioner examines projected financial statements, the practitioner's report should include a separate paragraph that: Group of answer choices Describes the limitations on the usefulness of the presentation. Provides an explanation of the differences between an examination and a review. States that the accountant is responsible for events and circumstances for a period not exceeding one year after the report's date. Disclaims an opinion on whether the assumptions provide a reasonable basis for the projection.
Which of the following is NOT correct about budgetary control. Select one: a. It is a legally compulsory process which is controlled by governments. b. There cannot be budgetary control without budgets. c. It is a system which uses budgets as a means of planning and controlling. d. It is the process of establishment of budgets relating to various activities and comparing the budgeted figures with the actual performance for arriving at deviations, if any.
Which of the following goals is accomplished when an audit process occurs at the end of the budget year? Select all that apply. Preventing fraud and waste Ensuring the accuracy of operation Ensuring compliance with policies and applicable laws Interviewing and hiring budget personnel for the next budget year
Currently, the activity found LEAST often within the controller's department isa. budget preparation. b. updating the general ledger. c. maintaining accounts receivable records. d. establishing and maintaining a market for the organization's debt and equity securitie
Identify the false statement related to elements of budgeting: a. System of reporting should be made optional. b. Availability of working capital should be ensured. c. Good system of accounting should be maintained. d. Authority and responsibility should be properly fixed

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