What is the nature of, and concepts relevant to, civil, criminal and administrative procedure and articulate the role of forensic accounting in the calculation of commercial and economic damages, and the compiling of business valuation reports.   NB: site references

Q: What is the primary objective of assurance services? To provide expert advice and recommendations…

A: Assurance services are professional endeavors carried out by auditors or other certified…

Q: Once the auditor has gained a preliminary understanding of an entity’s accounting subsystem, they…

A: Explanation : A record of study and the evaluation of internal controls related to the accounting…

Q: Describe how an assets impairment loss is determined and explain how IAS 36 deals with the…

A: What is impairment loss? The technical definition of impairment loss is a decrease in the net…

Q: Can you tell me more about what find of company or business has work called: "Different types of…

A: Audit means independent verification of books of accounts to ensure accuracy and reporting of…

Q: efly explained the following key concepts below: A. Forensic Accounting B. Financial

A: Financial accounting primary objective is to generate financial statements like the balance sheet,…

Q: What are the key principles and methodologies behind forensic accounting, and how do forensic…

A: Forensic accountantsForensic accountants are the people who will analyse the financial data to…

Q: Describe the audit documentation review process in a public accounting firm.

A:

Q: Which of the following is NOT one of the purposes of internal control? a. to guarantee the success…

A: Internal control involves procedures and policies to ensure the integrity of the accounting…

Q: What characteristics should a fraud specialist possess? Please provide references with URL if any.

A: A fraud specialist is a professional who specializes in detecting, investigating, and preventing…

Q: ask 1) Review and evaluate the accounting system This review can be of the complete system or of one…

A: Accounting functions are described as the collection of financial processes that aid in the…

Q: ain the importance of recording the commercial substance rather than the legal form of…

A: When it is expected that a business's future cash flows would change as a result of a business…

Q: Describe the FASB's rules or standard on revenue recognition.  Where do we find the FASB's revenue…

A: Accounting standards are developed by FASB (Financial Accounting Standard Board). These standards…

Q: Define fraud examination and describe various engagements performed by fraud examiners.

A: Although the investigation of fraud shares some attributes with forensic, it is not the same…

Q: Factors the auditor should understand as a part of his understanding of business Operations and…

A: Auditing means the independent checking of company operation by outsider.

Q: Question: In accounting, which type of audit is conducted by an independent firm or organization…

A: Option B is correctExplanation:Answer is B)External Audit :In accounting, External audit is…

Q: What documents does the AP clerk review before setting up a liability? Why?

A: Accounting information system: An accounting information system is defined as a system that helps to…

Q: The person or class of persons from whom the professional accountant prepares the report for…

A: The responsible party refers to the individuals or group of individuals who are responsible for the…

Q: How is Benford's Law used to investigate cases of fraud

A: According to Benford's Law, the odds are not random. In reality, the first digit has a 12.5 percent…

Q: Which is the most important issue in recording a transaction: recognition, valuation, or…

A: Lets understand the basics.Recognition indicates when revenue should be booked.On other hand…

Q: A public accounting firm's audit documentation review has what advantages?

A: Introduction: Audit documentation encompasses all forms of documents or records created by auditors,…

Q: The Normative Structure for Reporting emphasise the importance of transactions  that should be…

A: The principle of "substance over form" in financial reporting refers to the emphasis placed on the…

Q: Revenue should be recognized at a single point in time when control of a good or service is…

A: Given statement is: Revenue should be recognized at a single point in time when control of a good or…

Q: Outline the steps which can be taken to investigate occupational fraud.

A: Occupational fraud often refers to fraud committed by employees of an organization. This type of…

Q: Which of the following financial intermediaries is responsible for maintaining records a) Custodian.…

A: Financial intermediary is a middleman acting as a facilitator of financial transactions between two…

Q: not a procedure used by an auditor in searching for unrecorded disposals of long-lived assets?

A: Option a is wrong because the examination of property tax records provides information on tax on…

Q: Whose property are audit documentation (audit workpapers)? In what form must they be?

A: Auditing:                   It is a systematic verification of the books of accounts of an…

Q: What organizations and agencies have rules of conduct that you must observe when you practice(a)…

A: A rule of conduct is a set of norms and regulations practiced by an individual, or organizations. It…

Q: Determine possible fraud schemes involving long-lived assets

A: Using specific strategies, financial statements are sometimes misstated. Financial statement fraud…

Q: ms, given the measures used? • How would you interpret the total amount for property, plant and…

A: 1. Measures used to determine the amount- WOW- Property, plant and equipment are measured at cost…

Q: An auditor verify entries in the An example of acquisitions journal by examining supporting vendors…

A: Vouching is nothing but verification of journal entries in the books of account by examining the…

Q: With an example each, distinguish between fraudulent financial

A: Fraudulent financial reporting Fraudulent reporting coverage refers to a statement or omission…

Q: Please identify and describe what does forensic accountants do.

A: To become a forensic accountant, one should know about investigations, accounting, and auditing. The…

Q: Define the following terms below: A. Forensic Accounting B. Financial Accounting C. Auditing D.…

A: Accounting terms play a vital role in facilitating financial transactions, decision-making, and…

Q: Discuss the risk of material misstatement in the revenue and collection cycle, with a specific focus…

A:

Q: Accounting is a systematic process of objectively obtaining and evaluating evidence regarding…

A: Accounting is an important process for every organisation.