intentionally never recorded. Which of the following assertions was violated?

Q: What disclosure is made if a loss contingency is reasonably possible?

A: Contingent Liability: Contingent liability is one form of liability that arises based on a…

Q: Inquiry and observation are applicable to gather evidence about a policy or procedures that does not…

A: Solution : Concept Inquiry               Inquiry as process of audit means the process of seeking…

Q: Which internal control procedure is a deterrent to corruption? Multiple Choice O O Use of…

A: The correct option with proper explanation are as follows

Q: What is confidentiality? Give an example showing a violation of confidentiality.

A: Confidentiality is one of code of ethics for Auditor.

Q: Relevant information meets two criteria: (1) it differs between the alternatives and (2) the…

A: Decision making is a process of choosing one alternative from various alternatives based on relevant…

Q: Actions that may be taken to address risks include acceptance, avoidance, mitigation or transfer.…

A: After the risk has been identified and assessed, the project team develops a risk mitigation plan,…

Q: How can auditors ensure they are receiving authentic documentation, not forgeries?

A:

Q: Need Answer please provide Solutions

A: Detailed explanation:1. Factory Overhead Rate = budgeted factory overhead / budgeted direct labor…

Q: Meaning and difference between the permanent audit file and the current audit file?

A: Permanent audit files: Permanent audit files are the records that are used to preserve the documents…

Q: Which of the following exists as an inherent risk even in the best designed systems     a.…

A: Internal controls are processes, policies, and procedures implemented by an organization to ensure…

Q: How can a poorly designed database result in unintentional loss of critical records?

A:

Q: Which of the following is the maximum misstatement that can exist in an account before it is…

A: MisstatementThe difference between the required amounts in the presentation or disclosure and the…

Q: ______________________is a possible safeguard implemented by the client that might mitigate an audit…

A: Audit: It is the examination of each and every financial transaction. so that auditor can make their…

Q: describe conditions that are conducive to issuing low-quality, or even fraudulent, fi…

A: Financial reports are issued at the end of the year that shows the status of the Company.

Q: 5) What are common limitations of Internal Controls? a) Human Error b) Human Fraud c) Cost-Benefit…

A: Internal Control are policies and procedures used  by the management to make the efficient use of…

Q: Does the use of ghost-ticking would violate what pillar of character?

A: Making a mark that suggests you confirmed them when you didn't would be called "ghost ticking."…

Q: What tests may be conducted for identifying unauthorized program changes?

A: