Loose-leaf For Auditing & Assurance Services: A Systematic Approach
Loose-leaf For Auditing & Assurance Services: A Systematic Approach
11th Edition
ISBN: 9781260687637
Author: William F Messier Jr, Steven M Glover Associate Professor, Douglas F Prawitt Associate Professor
Publisher: McGraw-Hill Education
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Chapter 15, Problem 15.21P

A

To determine

Introduction: The audit procedures are the procedures used by the auditor in order to test the viability of the financial information provided by the company whose statements are being audited. Such procedures include inquiries, observation, calculations etc. All of this is done to check if the financial information is free from any kind of material misstatement or not.

To describe:The audit procedures that should be employed in examining the described loans.

B

To determine

Introduction: The financial disclosure refers to making detailed information available to the investors and other parties. Such disclosure includes providing supporting documents along with the financial statements of the company.

To explain:The financial statement disclosures that would be appropriate for the loans from the president.

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