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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

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Answer 1

Question

Chapter 16, Problem 16.28P

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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

B

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 explain: Theadditional audit procedures that the auditor should consider.

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Answer 2

Question

Chapter 16, Problem 16.28P

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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

B

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 explain: Theadditional audit procedures that the auditor should consider.

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Answer 3

Question

Chapter 16, Problem 16.28P

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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

B

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 explain: Theadditional audit procedures that the auditor should consider.

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Answer 4

Question

Chapter 16, Problem 16.28P

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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

B

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 explain: Theadditional audit procedures that the auditor should consider.

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Answer 5

Chapter 16, Problem 16.28P

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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

B

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 explain: Theadditional audit procedures that the auditor should consider.

Answer 6

Chapter 16, Problem 16.28P

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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

Answer 7

Chapter 16, Problem 16.28P

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 identify: Theprimary financial statement assertion relative to investments that would be addressed by each audit procedure.

Answer 8

B

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 explain: Theadditional audit procedures that the auditor should consider.

Answer 9

B

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 explain: Theadditional audit procedures that the auditor should consider.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 16 - Prob. 16.1RQ Ch. 16 - Prob. 16.2RQ Ch. 16 - Prob. 16.3RQ Ch. 16 - Prob. 16.4RQ Ch. 16 - Prob. 16.5RQ Ch. 16 - Prob. 16.6RQ Ch. 16 - Prob. 16.7RQ Ch. 16 - Prob. 16.8RQ Ch. 16 - Prob. 16.9RQ Ch. 16 - Prob. 16.10RQ

Solution Summary: The author explains the audit procedures used by auditors to test the viability of financial information provided by the company whose statements are being audited.

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Chapter 16 Solutions