Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Chapter 1, Problem 10RQ
To determine
Provide five examples of the specific operational audit that can be conducted by internal auditor in the manufacturing company.
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List five examples of specific operational audits that can beconducted by an internal auditor in a manufacturing company
Explain four (4) examples of specific operational audits that could be conducted by an internal auditor ina manufacturing company.
Describe FOUR internal control procedures an auditor would expect the company to put in place in respect of inventories
Chapter 1 Solutions
Auditing And Assurance Services
Ch. 1 - What are the information and established criteria...Ch. 1 - Prob. 2RQCh. 1 - Discuss changes in accounting and business...Ch. 1 - Prob. 4RQCh. 1 - Identify the three main ways information risk can...Ch. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Prob. 12RQCh. 1 - Prob. 13.1MCQCh. 1 - Prob. 13.2MCQCh. 1 - Prob. 13.3MCQCh. 1 - Prob. 14.1MCQCh. 1 - Prob. 14.2MCQCh. 1 - Prob. 14.3MCQCh. 1 - Prob. 15.1MCQCh. 1 - Prob. 15.2MCQCh. 1 - Prob. 15.3MCQCh. 1 - Prob. 16DQPCh. 1 - Prob. 17DQPCh. 1 - Prob. 18DQPCh. 1 - Prob. 19DQPCh. 1 - Prob. 20DQPCh. 1 - Prob. 21DQPCh. 1 - Prob. 22DQPCh. 1 - Prob. 23DQPCh. 1 - As discussed in the chapter opening vignette and...Ch. 1 - Prob. 25DQP
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- The purpose of an audit trail is to be able to trace a transaction from its origin through source documents to the final output or backwards from the final output to the original source documents to prove the accuracy and validity of ledger postings. Describe in detail the audit trail for the following in a manufacturing business: a. Shipping an order to a customer b. Customer returns defective goods c. Employee payroll for employee wages (using time cards or time sheets) With the aid of visual diagrams, describe in detail the audit trail for the following in a manufacturing business: Shipping an order to a customer Customer returns defective goods c. Employee payroll for employee wages (using time cards or time sheets)arrow_forwardAudit documentation is covered in _________. a. ISA 200 b. ISA 250 c. ISA 300 d. ISA 230 The auditor prepares sufficient audit documentation to understand __________. a. The structure of HR policies of the entity b. The nature, timing and extent of audit procedures performed c. The designations and position of the employees of the entity d. The objectives of the entityarrow_forward1. When auditing a manufacturing concern, what major inquiries might be made by the auditor about the cost accounting system? 2. In the audit of inventory the auditor must perform important procedures prior to the actual observation. Identify the steps the auditor must take prior to the day the inventory is actually counted.arrow_forward
- With the aid of visual diagrams, describe in detail the audit trail for the following in a manufacturing business: Shipping an order to a customerarrow_forwardIdentify five general ledger accounts that are likely to be affectedby the payroll and personnel cycle in most auditsarrow_forwardExplain ANY FIVE (5) substantive procedures that an auditor should use in verifying the revaluation of plant, property and equipment in a particular company.arrow_forward
- The purpose of an audit trail is to be able to trace a transaction from its origin through source documents to the final output or backwards from the final output to the original source documents to prove the accuracy and validity of ledger postings. Describe in detail the audit trail for the following in a manufacturing business: With the aid of visual diagrams, describe in detail the audit trail for the following in a manufacturing business: Shipping an order to a customerarrow_forwardAn examination of part of an organization's procedures and methods for the purpose of evaluating efficiency and effectiveness is what type of audit Select one: a. compliance audit b. operational audit c. financial statement audit d. production auditarrow_forwardThe purpose of an audit trail is to be able to trace a transaction through source documents to the final output or backwards from the final output to the original source documents to prove the accuracy and validity of ledger postings. Describe in detail the audit trail for the following in a manufacturing business: a. Shipping an order to a customer b. Customer returns defective goods c. Employee payroll for employee wages (using cards or time sheetsarrow_forward
- Describe the key components of a quality control system within an accounting firm or department.arrow_forwardThe purpose of an audit trail is to be able to trace a transaction from its origin through source documents to the final output or backwards from the final output to the original source documents to prove the accuracy and validity of ledger postings. Describe in detail the audit trail for the following in a manufacturing business: With the aid of visual diagrams, describe in detail the audit trail for the following in a manufacturing business: b. Customer returns defective goodsarrow_forwardList and briefly describe, in your own words, each of the six (6) elements of a quality control system established by the AICPA for the accounting and auditing practice of a CPA firm.arrow_forward
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