AUDITING+ASSURANCE 12MONTH ACCESS CARD
17th Edition
ISBN: 9780135635131
Author: ARENS
Publisher: WILEY
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Chapter 1, Problem 10RQ
To determine
Provide five examples of the specific operational audit that can be conducted by internal auditor in the manufacturing company.
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Explain four (4) examples of specific operational audits that could be conducted by an internal auditor in
a manufacturing company.
Explain four (4) examples of specific operational audits that could be conducted by an internal auditor ina manufacturing company.
Describe FOUR internal control procedures an auditor would expect the company to put in place in respect of inventories
Chapter 1 Solutions
AUDITING+ASSURANCE 12MONTH ACCESS CARD
Ch. 1 - What are the information and established criteria...Ch. 1 - Prob. 2RQCh. 1 - Discuss changes in accounting and business...Ch. 1 - Prob. 4RQCh. 1 - Identify the three main ways information risk can...Ch. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Prob. 12RQCh. 1 - Prob. 13.1MCQCh. 1 - Prob. 13.2MCQCh. 1 - Prob. 13.3MCQCh. 1 - Prob. 14.1MCQCh. 1 - Prob. 14.2MCQCh. 1 - Prob. 14.3MCQCh. 1 - Prob. 15.1MCQCh. 1 - Prob. 15.2MCQCh. 1 - Prob. 15.3MCQCh. 1 - Prob. 16DQPCh. 1 - Prob. 17DQPCh. 1 - Prob. 18DQPCh. 1 - Prob. 19DQPCh. 1 - Prob. 20DQPCh. 1 - Prob. 21DQPCh. 1 - Prob. 22DQPCh. 1 - Prob. 23DQPCh. 1 - As discussed in the chapter opening vignette and...Ch. 1 - Prob. 25DQP
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- Q2. What is operational audit? List five examples of specific operational audits that could be conducted by an internal auditor in a manufacturing company?arrow_forwardThe phases in the internal audit process are: determining audit assignment and overall plan; planning the internal audit (engagement planning); performing the engagement (fieldwork) and audit reporting and follow up. Based on scenario B, name which phase of the internal audit process each of the activities (a - f) listed fallsarrow_forwardAn examination of part of an organization's procedures and methods for the purpose of evaluating efficiency and effectiveness is what type of audit Select one: a. compliance audit b. operational audit c. financial statement audit d. production auditarrow_forward
- Identify five general ledger accounts that are likely to be affectedby the payroll and personnel cycle in most auditsarrow_forwardList and briefly describe, in your own words, each of the six (6) elements of a quality control system established by the AICPA for the accounting and auditing practice of a CPA firm.arrow_forwardWhich of the following type of auditors reviews the routine activities and provide suggestion for the improvement in the functioning of the organization System Auditor External Auditor Cost Auditor Internal Auditorarrow_forward
- Explain ANY FIVE (5) substantive procedures that an auditor should use in verifying the revaluation of plant, property and equipment in a particular company.arrow_forwardExplain 5 audit procedures in obtaining evidence to test the management assertion for inventories of a company.arrow_forwardExplain the factors to be considered in planning of an audit in a company.arrow_forward
- List three reasons management may ask for an operational audit to be performed, and explain how the audit program would be impacted by each of them.arrow_forwardBelow are five audit procedures, all of which are tests of transactions associated with the audit of the acquisition and payment cycle. Also below are the six general transaction-related audit objectives and the five management assertions. For each audit procedure, indicate (1) its audit objective, and (2) the management assertion being tested. Audit Objectives: A. Occurrence B. Completeness C. Accuracy D. Posting and Summarization E. Classification F. Timing Management Assertions: V. Occurrence W. Completeness X. Accuracy Y. Classification Z. Cutoff Audit Procedures 1. Foot the purchases journal and trace the totals to the related general ledger accounts. __________________ ______________________ 2. Recompute the cash discounts taken by the client. _____________________ _________________________ 3. Compare dates on cancelled checks with the bank cancellation date. _________________ __________________________ 4. Trace from a sample of cancelled checks to the…arrow_forwardDescribe the four phases of an audit and discuss the key factors that would help you determine how to plan the audit for this company. Provide specific examples.arrow_forward
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