why should the client represantion letter be prepared foreach examination?

Q: Which of the following is the postclosing trial balance not designed to verify?

A: The objective of this question is to understand what the postclosing trial balance is not designed…

Q: What are the requirements for nonattest engagements?

A: Non-attest engagements or services   The non-attest services are the engagements with a client and…

Q: Which of the following expenses would be denied as a deduction as per the provisions of the Canadian…

A: The Canadian Income Tax Act outlines rules and regulations governing the deductibility of expenses…

Q: Why is there a cost associated with reinvestedearnings?

A: There is some adaptability in the measure of funds that will be created from new reinvested earnings…

Q: What is the general purpose of the preliminary interview

A: What is the general purpose of the preliminary interview

Q: is the postclosing trial balance not designed to verify

A: The Answer :

Q: For hedging purpose, a client is of the opinion that the delta normal method is the most appropriate…

A: Delta normal Method:- This method is used for the portfolio's that are linearly dependent on the…

Q: When may a covered member disclose confidential information?

A: A covered member may disclose confidential information when client is not following GAAP.

Q: What does an acknowledgment certify?

A: An acknowledgment is a formal declaration made by an individual to verify the genuineness and…

Q: What is the unadjusted trial balance?

A: Trial balance is the summary of all general ledger accounts being used in the business. It shows…

Q: What are the characteristics of a confirmation? Distinguish betweena confirmation and external…

A: Auditing: The process of critical examination and evaluation of the accounting information recorded…

Q: How can the owners be disclaimers?

A: A disclaimer is a term utilized to define or restrict the range of duties and rights enforceable in…

Q: Is there a conceptual difference between an error and negligence from a reasonable care perspective?…

A:

Q: what is a validity check?

A:

Q: at is Volunteer discolure

A: Annual reports are prepared by the management in which financial statements, auditors report and…

Q: Multiple Choice O If a company has total revenues of $80,000, total expenses of $50.000 and…

A: The assets are said to me the ones that will generate future economic  benefits. The assets on the…

Q: Distinguish between the terms tolerable misstatement and preliminary judgment about materiality. How…

A: A review or examination of several account books by an inspector, together with a physical inventory…

Q: We learned about the importance of selecting the "filing status"; What are the different filing…

A: Filing status is a category that specifies the type of tax return form that must be used by a…

Q: hether or not a report is effective?

A: To evaluate an organization's strategy's performance and efficiency, consider how it ties your goals…

Q: What is a MIS report, why is it  prepared?

A: MIS is Management Information System. Management information system is an integrated collection of…

Q: when should th

A: When should the client representation letter be obtained? -The Clients Representation should be…

Q: Audit Client Acceptance Procedures

A: Audit Client Acceptance Procedures are certain procedures to be followed by the auditor before…

Q: Why should you discuss the rights and responsibilities of all parties with a client?

A: A customer who enters into a service contract must furnish the provider with all information he…

Q: What procedures are required for Review engagements?

A: Review engagement: It is a type of engagement that is only meant to provide whether the financial…