Required:Prepare a three-column schedule showing (1) each of the engagements listed, (2) the type of audit (Financial statement, Economy andefficiency, or program results, Economy and efficiency, Compliance, Compliance or economy, and efficiency), and (3) the type ofauditor you would expect to be involved.Audit Engagementa.Analyze proprietary schools' spending to train studentsfor oversupplied occupations.Determine the fair presentation in conformity withb.GAAP of an advertising agency's financial statements.Study the Department of Defense's expendable launchvehicle program.CDetermine costs of municipal garbage pickup servicesd. compared to comparable service subcontracted to aprivate business.e. Audit tax shelter partnership financing terms.Study a private aircraft manufacturer's test pilot1.performance in reporting on the results of test fights.Periodically have U.S. comptroller of currency examineg. a national bank for solvency.h.Evaluate the promptness of materials inspection in amanufacturer's receiving department.1.Report on the need for the states to consider reportingrequirements for chemical use data.Render a public report on the assumptions andcompilation of a revenue forecast by sportsstadium/racetrack complex.Type of auditType of auditor Audits may be characterized as (a) financial statement audits, (b) compliance audits, (c) economy and efficiency audits, and (d) programaudits. The work can be done by independent (external) auditors, internal auditors, or governmental auditors (including IRS auditorsand federal bank examiners). Following is a list of the purpose or products of various audit engagements.a. Analyze proprietary schools' spending to train students for oversupplied occupations.b. Determine the fair presentation in conformity with GAAP of an advertising agency's financial statements.c. Study the Department of Defense's expendable launch vehicle program.d. Determine costs of municipal garbage pickup services compared to comparable service subcontracted to a private business.e. Audit tax shelter partnership financing terms.1. Study a private aircraft manufacturer's test pilot performance in reporting on the results of test flights.g. Periodically have U.S. comptroller of currency examine a national bank for solvency.h. Evaluate the promptness of materials inspection in a manufacturer's receiving department.i Report on the need for the states to consider reporting requirements for chemical use data.J. Render a public report on the assumptions and compilation of a revenue forecast by sports stadium/racetrack complex.

A financial statement is a statement used by the company to record and convey the financial…

Required: Prepare a three-column schedule showing (1) each of the engagements listed, (2) the type of audit (Financial statement, Economy and efficiency, or program results, Economy and efficiency, Compliance, Compliance or economy, and efficiency), and (3) the type of auditor you would expect to be involved. Audit Engagement a. Analyze proprietary schools' spending to train students for oversupplied occupations. b. C Determine costs of municipal garbage pickup services d. compared to comparable service subcontracted to a private business. Determine the fair presentation in conformity with GAAP of an advertising agency's financial statements. Study the Department of Defense's expendable launch vehicle program. e. Audit tax shelter partnership financing terms. f. Study a private aircraft manufacturer's test pilot performance in reporting on the results of test fights. Periodically have U.S. comptroller of currency examine 9. a national bank for solvency. h. L Evaluate the promptness of materials inspection in a manufacturer's receiving department. Report on the need for the states to consider reporting requirements for chemical use data. Render a public report on the assumptions and compilation of a revenue forecast by sports stadium/racetrack complex. Type of audit Type of auditor

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Activities Required In Completing A Quality Audit

Section: Chapter Questions

Problem 52MCQ