EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
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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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Explain four (4) examples of specific operational audits that could be conducted 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
EBK AUDITING+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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- Q2. What is operational audit? List five examples of specific operational audits that could be conducted by an internal auditor in a manufacturing company?arrow_forwardThe phases in the internal audit process are: determining audit assignment and overall plan; planning the internal audit (engagement planning); performing the engagement (fieldwork) and audit reporting and follow up. Based on scenario B, name which phase of the internal audit process each of the activities (a - f) listed fallsarrow_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_forward
- Describe the key components of a quality control system within an accounting firm or department.arrow_forward1. Job specification of external auditor 2. Qualification of external auditor 3. Major quality of external auditarrow_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: Shipping an order to a customerarrow_forward
- You are in-charge of audit team of ABC Cement Company and you have been assigned to verify the following items: 1. Investment 2. Loan3. Plant and Machinery4. Inventoryarrow_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
- Which of the following type of auditors reviews the routine activities and provide suggestion for the improvement in the functioning of the organization System Auditor External Auditor Cost Auditor Internal Auditorarrow_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_forwardExplain 5 audit procedures in obtaining evidence to test the management assertion for inventories of a company.arrow_forward
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