Prepare Statement of operating activities.

Q: Which internal control objective is concerned with ensuring that accumulated totals in the…

A: Internal controls are the procedures that are implemented to ensure operational efficiency and…

Q: Which one of the following involves coordinating a company's activities to produce a smooth-running…

A: Which one of the following involves coordinating a company's activities to produce a smooth-running…

Q: Audit plan is always prepared after conducting: a. Interview of employees b. Review of financial…

A: Audit plan refers to plan of nature, time, and extent of conducting an audit to obtain sufficient…

Q: stage of audit the audit program

A: Option a is wrong is wrong because during field work, auditing is done complying with the audit…

Q: Direction:  discussed the process of auditing the following transactions/accounts: b. Midstream and…

A: Auditing Process Auditing process in the natural extraction which can be measured the initial…

Q: Identify each of the following as relating to (a) the control environment, (b) control procedures,…

A:

Q: List and explain briefly the phases of an internal control evaluation.

A: Internal controls are indeed defined as the measures put in place by a corporation to secure its…

Q: What are management’s responsibilities related to maintaining a transaction trail?

A: A transaction tail defines the sequence of evidences which helps in reconstruction of transaction…

Q: developing and evalueting audit documentation

A: Audit documentation is the way of recording the audit plans, procedures and findings in a working…

Q: Differentiate between the audit strategy and the audit plan.

A: audit strategy refers to how the audit is conducted and it sets the scope, extent, and timing of the…

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: Discuss what internal control is in audit and assurance in depth.

A: Internal Control is a set of policies, procedures, and processes designed by an organization to…

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 role and objectives of audit planning.

A: Audit planning Audit planning  start  at the initial stage  of audit process.

Q: audit plan objectives

A: Introduction:- Audit plan is the first stage in the audit process. Audit planning is a process of…

Q: written management representations, audit completion memorandum, The management letter after…

A: Audit is the term which is defined as the independent examination of the entity financial…

Q: Define group auditors and component auditors.

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

Q: prostulates of auditing

A: An independent assessment of any organization's financial information is referred to as auditing.…

Q: Subject: internal auditing - needs to perform control testing

A: Introduction: Auditors have a wide range of instruments at their disposal while doing an audit for a…

Q: List the directors’ duties with regard to the going concern basis.

A: The concept of a going concern is a fundamental accounting principle. It implies that a company will…

Q: discuss the process of auditing the following: • Inventories • Revenues • Segment Reporting

A: Auditing is defined as the on-site verification activity of a process or quality system, such as…

Q: -Financial -Quality -Human resources

A: Basically, in every business organization, every entity must identify and analyze performance and…

Q: When and How internal audits are carried

A: An internal audit is a kind of audit which provides risk management and assesses the effectiveness…

Q: Explain the following audit strategy document main sections: Scope Materiality Audit Strategies…

A: Answer:- Audit strategy:- The definition of an audit strategy includes the audit approach used by…

Q: Provide the control objectives the auditor must ensure when auditing the acquisition and payment…

A: Any business that makes purchases of products and services and pays bills must follow the…

Q: Audit :  List 4 risks and corresponding controls on assets

A: The objective of this question is to identify four potential risks that can affect a company's…