Describe the external auditors responsibilities in relation to auditing accounting information systems

Q: Describe the audits and auditors ingovernmental, internal, and operationalauditing.

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: Identify and define the two major types of controls in an accounting information system.

A: Accounting Controls Accounting controls are the policies and procedures that a company adopts to…

Q: roles of internal auditors and external/independent auditor

A: SOLUTION-   INTERNAL AUDITOR- IT IS A TRAINED PROFESSIONAL TASKED WITH PROVIDING INDEPENDENT AND…

Q: Accounting information's integrity is enhanced via audits.

A: This question explains about accounting information's integrity is enhanced via audits.

Q: Elements of an auditor's report? The most important component

A: The auditors report is very important for the company as well as the investor . Auditor  report…

Q: What are the roles of internal and external auditors?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: Explain the responsibilities of an auditor in relation to subsequent events.

A: Subsequent events   Events that occur after the date of financial statements and before the date of…

Q: An introduction to what are the most effective internal control systems or techniques available for…

A: Introduction to Internal control system: The internal control system consists of procedures and…

Q: West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2023, it…

A: Depreciation is provided to allocate the cost of the fixed assets over the useful life. The…

Q: How do auditors audit accounting estimates and other subjective information?

A: Accounting estimate is referred to as the recognition or measurement of an account, transaction,…

Q: Justify the purpose of performing a financial statement audit and an internal control audit.

A: Introduction: The audit reviews a financial statement that verifies that all financial transactions…

Q: Explain the role of audit report in company.

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: Describe what is generally contained in a service auditor report

A: For the audit of the service organization, the audit procedures performed by the auditors…

Q: how key audit matters affect the model of the audit report?

A: Auditing:   Auditing refers to the procedure for providing independent report over the presentation…

Q: Discuss the importance of internal controls in accounting and provide examples of effective control…

A: Internal controls refer to the policies, procedures, and practices implemented within an…

Q: Discuss Theories related to auditors independence

A: An auditor is a person or a firm authorized by the respective institutes to review the various…

Q: The auditor's assessment of the reliability and sufficiency of the information contained in the…

A: Audit test - The auditing Assess the reliability and sufficiency of the information contained in the…

Q: What must an auditor understand with respect to internal auditors?

A:

Q: Assess the accounting function within the organization in the context of regulatory and ethical…

A: Accounting Function - It refers to various operational processes in an organisation which include -…

Q: Define Institute of Internal Auditors.

A: The Institute of Internal Auditors was established in 1941, the Institute of Internal Auditors…

Q: What are the professional guidelines for auditors in external auditing

A: External Auditor is the one who reviews the company financial information as well as reports on…

Q: Define Auditors's report.

A: An auditor's report provides an opinion on the validity and reliability of a company’s financial…

Q: sibilities of and auditor’s expert

A: The roles and responsibilities of an auditor include helping organizations improve the precision,…

Q: Explain the importance of accounting information for internal parties—primarily management—in terms…

A: Accounting information:-Management uses this information, analyzes the data, and displays the…

Q: Describe the role and responsibilities of auditor.

A: Auditor:The person who is considered responsible for assessing the credibility of the financial…

Q: Does computerization of data processing affect the objective of financial statement audit? Discuss.

A: Auditing is the process of verifying, and assessing the financial statements of a company through…

Q: Explain in general Audit Responsibilities and Objectives

A: An audit is a systematic and impartial study of an organization's books, accounts, papers, and…

Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.