You are auditing one of your firm’s clients that is listed on a Stock Exchange. The client has an audit committee formed of three independent non‐executive directors, as recommended by its country’s code of corporate governance. If you believe that a member of this client’s management is involved in fraud, to whom should this matter first be reported? a. Finance manager b. The Internal auditors c. Those charged with governance of the company d. Accounts manager

Q: 20. Below is an internal control associated with some financial statement audit cycle that the…

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Q: prospective banks as a prerequisite to extending a loan to the client. The auditor know

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Q: You have recently been appointed as auditor to Johnson Plc; a company whose shares are traded on the…

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Q: you have recently been appointed as auditor to Johnson Plc; a company whose shares are traded on the…

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Q: Assume that a CPA serves as an audit client’s business consultant and performs each of the following…

A:

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Q: What defenses might the auditors use to rebut any charges made about their audit?

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Q: QUESTION 24 A check was written by a business for $205, but was recorded in the business' books as…

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Q: The board of directors of Skysong, Inc. declared a cash dividend of $2.05 per share on 37000 shares…

A: Total dividend paid = No. of common stock c dividend per share =37000*$2.05 = $75,850

Q: §301 of SOX requires corporate audit committees to: O take vacations annually. O have a majority of…

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Q: In general, internal auditors' independence will be greatest when they report directly to the:…

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Q: Among the wide array of audit procedures being performed by auditors, which of the following is/are…

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Q: Look at the following descriptions of how management, the auditor and the audit committee (or board…

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Q: which of the following does the audit committee have unconditional authority to do? Audit the…

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Q: Imagine that you are the new department manager of a corporation within your chosen field: you…

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Q: QUESTION 22 Match the term on the left with the appropriate definition or description on the left.…

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