EP AUDITING+ASSURANCE...-MYACCT.LAB
16th Edition
ISBN: 9780134148656
Author: ARENS
Publisher: PEARSON CO
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Chapter 8, Problem 6RQ
To determine
Explain the ways in which CPA’s observations made during the course of the plant tour will help for planning and conducting the audit.
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When a CPA has accepted an engagement from a new client who is amanufacturer, it is customary for the CPA to tour the client’s plant facilities. Discuss theways in which the CPA’s observations made during the course of the plant tour will be ofhelp in planning and conducting the audit.
Nazril is a new audit trainee at Faezi & Co. In assisting the audit seniors to undertake the audit work, the audit seniors always advise her to properly maintain all the working papers. From there on, whenever she does any audit work, she will make sure all information is properly documented and properly kept in a proper file.
Required:
Permanent audit files and current files are part of audit documentation. Identify general rule for audit documentation.
In order to help the audit team assigned to the audit of a major client's property, plant and equipment accounts better
understand the link between auditing assertions and this area of the audit, the audit manager with overall responsibility for
this part of the audit has convened a meeting. Which of the choices below would be the supervisor's best response to help
explain this relationship? The easiest way to understand this relationship is to imagine taking our list of assertions,
determining which ones apply to the client's property, plant and equipment accounts, and then finding ways to test the
assertions we selected. For example, we might decide to test the valuation and allocation assertion by examining
documents to see if the client has defaulted on any debt associated with these assets. The easiest way to understand this
relationship is to imagine taking our list of assertions, determining which ones apply to the client's property, plant and
equipment accounts, and then…
Chapter 8 Solutions
EP AUDITING+ASSURANCE...-MYACCT.LAB
Ch. 8 - Prob. 1RQCh. 8 - Prob. 2RQCh. 8 - Prob. 3RQCh. 8 - Prob. 4RQCh. 8 - Prob. 5RQCh. 8 - Prob. 6RQCh. 8 - Prob. 7RQCh. 8 - Prob. 8RQCh. 8 - Prob. 9RQCh. 8 - Prob. 10RQ
Ch. 8 - Prob. 11RQCh. 8 - Prob. 12RQCh. 8 - Prob. 13RQCh. 8 - Prob. 14RQCh. 8 - Prob. 15RQCh. 8 - Your client, Harper Company, has a contractual...Ch. 8 - Prob. 17RQCh. 8 - Prob. 18RQCh. 8 - Prob. 19RQCh. 8 - Prob. 20RQCh. 8 - Prob. 21RQCh. 8 - Prob. 22RQCh. 8 - Prob. 23RQCh. 8 - Prob. 24RQCh. 8 - Prob. 25.1MCQCh. 8 - Prob. 25.2MCQCh. 8 - Prob. 25.3MCQCh. 8 - Prob. 26.1MCQCh. 8 - Prob. 26.2MCQCh. 8 - Prob. 26.3MCQCh. 8 - Which one of the following statements is correct...Ch. 8 - Prob. 27.2MCQCh. 8 - Prob. 27.3MCQCh. 8 - Prob. 28.1MCQCh. 8 - Prob. 28.2MCQCh. 8 - Prob. 28.3MCQCh. 8 - Prob. 29DQPCh. 8 - Prob. 30DQPCh. 8 - Prob. 31DQPCh. 8 - Your comparison of the gross margin percent for...Ch. 8 - Prob. 33DQPCh. 8 - Prob. 34DQPCh. 8 - Prob. 35DQPCh. 8 - Prob. 36DQPCh. 8 - Prob. 37DQPCh. 8 - Following are statements of earnings and financial...
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