The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform. To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

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Answer 1

Question

Chapter 19, Problem 19.27P

1

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

2

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The additional non-audit services that the auditor can include in the proposal for a non-public client.

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You want to buy equipment that is available from 2 companies. The price of the equipment is the same for both companies. Silver Research would let you make quarterly payments of $9,130 for 3 years at an interest rate of 3.27 percent per quarter. Your first payment to Silver Research would be today. Island Research would let you make monthly payments of $3,068 for 3 years at an interest rate of X percent per month. Your first payment to Island Research would be in 1 month. What is X? Input instructions: Input your answer as the number that appears before the percentage sign. For example, enter 9.86 for 9.86% (do not enter .0986 or 9.86%). Round your answer to at least 2 decimal places. percent

You want to buy equipment that is available from 2 companies. The price of the equipment is the same for both companies. Orange Technology would let you make quarterly payments of $13,650 for 8 years at an interest rate of 1.93 percent per quarter. Your first payment to Orange Technology would be in 3 months. Island Technology would let you make monthly payments of $7,976 for 4 years at an interest rate of X percent per month. Your first payment to Island Technology would be today. What is X? Input instructions: Input your answer as the number that appears before the percentage sign. For example, enter 9.86 for 9.86% (do not enter .0986 or 9.86%). Round your answer to at least 2 decimal places. percent

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Answer 2

Question

Chapter 19, Problem 19.27P

1

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

2

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The additional non-audit services that the auditor can include in the proposal for a non-public client.

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Answer 3

Question

Chapter 19, Problem 19.27P

1

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

2

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The additional non-audit services that the auditor can include in the proposal for a non-public client.

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Answer 4

Question

Chapter 19, Problem 19.27P

1

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

2

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The additional non-audit services that the auditor can include in the proposal for a non-public client.

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Answer 5

Chapter 19, Problem 19.27P

1

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

2

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The additional non-audit services that the auditor can include in the proposal for a non-public client.

Answer 6

Chapter 19, Problem 19.27P

1

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

Answer 7

Chapter 19, Problem 19.27P

1

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The summary of non-audit services that the auditor can include in the proposal that would not violate the SEC’s independence rules.

Answer 8

2

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The additional non-audit services that the auditor can include in the proposal for a non-public client.

Answer 9

2

To determine

Introduction: The non-audit services are provided by an auditor which are unrelated to the primary audit services and include consultancy, tax planning, internal audit management and all the services other than auditing or reviewing of the financial statements of the company. The Securities and Exchange Commission has listed some of the non-audit services that an auditor cannot perform.

To prepare: The additional non-audit services that the auditor can include in the proposal for a non-public client.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 19 - Prob. 19.1RQ Ch. 19 - Prob. 19.2RQ Ch. 19 - Prob. 19.3RQ Ch. 19 - Prob. 19.4RQ Ch. 19 - Prob. 19.5RQ Ch. 19 - Prob. 19.6RQ Ch. 19 - Prob. 19.7RQ Ch. 19 - Prob. 19.8RQ Ch. 19 - Prob. 19.9RQ Ch. 19 - Prob. 19.10RQ

Concept explainers

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Chapter 19 Solutions