Audit procedure : audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data. To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

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Answer 1

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Chapter 10, Problem 10.7RQ

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Concept Introduction:

Audit procedure: audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data.

To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

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Answer 2

Question

Chapter 10, Problem 10.7RQ

To determine

Concept Introduction:

Audit procedure: audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data.

To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

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Answer 3

Question

Chapter 10, Problem 10.7RQ

To determine

Concept Introduction:

Audit procedure: audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data.

To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

Expert Solution & Answer

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Answer 4

Question

Chapter 10, Problem 10.7RQ

To determine

Concept Introduction:

Audit procedure: audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data.

To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

Expert Solution & Answer

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Answer 5

Chapter 10, Problem 10.7RQ

To determine

Concept Introduction:

Audit procedure: audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data.

To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

Answer 6

Chapter 10, Problem 10.7RQ

To determine

Concept Introduction:

Audit procedure: audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data.

To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

Answer 7

Chapter 10, Problem 10.7RQ

To determine

Concept Introduction:

Audit procedure: audit procedure is a method performed by the auditor, to gather the possible document that helps the auditors to make a strong conclusion. The audit procedure helps to determine the nature of the financial information provided by the customers and all kinds of risks that occur in the financial statements. Analytical procedure is a method of audit procedure that describes the financial information by using the comparison between the financial data and non-financial data.

To Discuss: the list of analytical procedure that can be used as revenue related account and potential misstatements for each analytical procedure

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 10 - Prob. 10.1RQ Ch. 10 - Prob. 10.2RQ Ch. 10 - Prob. 10.3RQ Ch. 10 - Prob. 10.4RQ Ch. 10 - Prob. 10.5RQ Ch. 10 - Prob. 10.6RQ Ch. 10 - Prob. 10.7RQ Ch. 10 - Prob. 10.8RQ Ch. 10 - Prob. 10.9RQ Ch. 10 - Prob. 10.10RQ

Solution Summary: The author explains that an analytical procedure is a method of audit procedure that describes financial information by using the comparison between the financial data and non-financial data.

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