Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence. Requirement 1 To describe: List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

Question

Want to see the full answer?

Answer 1

Question

Chapter 6, Problem 31FF

To determine

Introduction:

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence.

Requirement 1

To describe:

List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronic or any other medium is called external confirmation.

Requirement 2

To describe:

State the conditions where the proposed generality will be considered not accurate. And also explain the assumptions that the auditor should consider prior to concluding the confirmations as reliable audit evidence.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

While completing your audit work for the 30 June 2022 audit of Bexca Ltd, you become aware of the following material matters: (i) On 5 July, Blue Pty Ltd, a major customer of Bexca Ltd, was placed into liquidation. As Blue Pty Ltd had confirmed the balance due to Bexca Ltd as at balance date, management of Bexca Ltd has refused to write off or provide for the Blue Pty Ltd account in the 30 June 2022 financial report. However, they are prepared to disclose this information as a note to the financial report. (ii) One of Bexca’ major customers, Leisure Pty Ltd, suffered a fire on 20 July. Since Leisure Pty Ltd was uninsured, it is unlikely that their accounts receivable balance will be paid. (iii) On 25 July, a well-known financial planner advised his clients not to invest in Bexca due to poor long-term growth prospects. The market price for Bexca’s shares subsequently declined by 40%. (iv) A note to the financial report of Bexca Ltd refers to an agreement to sell its major subsidiary,…

The fieldwork for the December 31, 2016 audit of Treble Corporation ended on March 17, 2017. The financialstatements and auditor's report were issued and mailed to stockholders on March 29, 2017. In each of the materialsituations (1 through 5) below, indicate the appropriate action (a, b, c, d, or e). The possible actions are as follows:a. Adjust the December 31, 2016 financial statements.b. Disclose the information in a footnote in the December 31, 2016 financial statements.c. Request the client revise and reissue the December 31, 2016 financial statements. The revision should involvean adjustment to the December 31, 2016 financial statements.d. Request the client revise and reissue the December 31, 2016 financial statements. The revision should involvethe addition of a footnote, but no adjustment, to the December 31, 2016 financial statements.e. No action is required.The situations are as follows:________ 1. On January 16, 2017 a lawsuit was filed against Treble for a patent…

Solve the following question.

Answer 2

Question

Chapter 6, Problem 31FF

To determine

Introduction:

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence.

Requirement 1

To describe:

List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronic or any other medium is called external confirmation.

Requirement 2

To describe:

State the conditions where the proposed generality will be considered not accurate. And also explain the assumptions that the auditor should consider prior to concluding the confirmations as reliable audit evidence.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 6, Problem 31FF

To determine

Introduction:

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence.

Requirement 1

To describe:

List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronic or any other medium is called external confirmation.

Requirement 2

To describe:

State the conditions where the proposed generality will be considered not accurate. And also explain the assumptions that the auditor should consider prior to concluding the confirmations as reliable audit evidence.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 6, Problem 31FF

To determine

Introduction:

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence.

Requirement 1

To describe:

List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronic or any other medium is called external confirmation.

Requirement 2

To describe:

State the conditions where the proposed generality will be considered not accurate. And also explain the assumptions that the auditor should consider prior to concluding the confirmations as reliable audit evidence.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 6, Problem 31FF

To determine

Introduction:

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence.

Requirement 1

To describe:

List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronic or any other medium is called external confirmation.

Requirement 2

To describe:

State the conditions where the proposed generality will be considered not accurate. And also explain the assumptions that the auditor should consider prior to concluding the confirmations as reliable audit evidence.

To determine

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Answer 6

Chapter 6, Problem 31FF

To determine

Introduction:

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence.

Requirement 1

To describe:

List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

Answer 7

Chapter 6, Problem 31FF

To determine

Introduction:

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence.

Requirement 1

To describe:

List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

Answer 8

To determine

Introduction:

Audit evidence received from a third part through either manually or electronic or any other medium is called external confirmation.

Requirement 2

To describe:

State the conditions where the proposed generality will be considered not accurate. And also explain the assumptions that the auditor should consider prior to concluding the confirmations as reliable audit evidence.

Answer 9

To determine

Introduction:

Audit evidence received from a third part through either manually or electronic or any other medium is called external confirmation.

Requirement 2

To describe:

State the conditions where the proposed generality will be considered not accurate. And also explain the assumptions that the auditor should consider prior to concluding the confirmations as reliable audit evidence.

Answer 10

To determine

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Answer 11

To determine

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 15

Ch. 6 - Prob. 1CYBK Ch. 6 - Prob. 2CYBK Ch. 6 - Prob. 3CYBK Ch. 6 - Which of the following statements is true...Ch. 6 - Prob. 5CYBK Ch. 6 - Prob. 6CYBK Ch. 6 - Prob. 7CYBK Ch. 6 - Prob. 8CYBK Ch. 6 - Prob. 9CYBK Ch. 6 - Prob. 10CYBK

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence. Requirement 1 To describe: List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

Solution Summary: The author explains that evidence related problems are those problems that companies face without being able to provide ample proof.

Videos

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.

Want to see the full answer?

Chapter 6 Solutions

Evidence related problems are those problems that the companies may face without being able to provide ample proof and supporting evidence. Requirement 1 To describe: List out the problems related to audit evidence that the auditor has encountered at the time of the audit of the company.

Solution Summary: The author explains that evidence related problems are those problems that companies face without being able to provide ample proof.

Videos

Introduction: Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation. Requirement 3 To describe: The role of professional skepticism while evaluating evidence obtained from confirmations.

Want to see the full answer?

Chapter 6 Solutions

Introduction:

Audit evidence received from a third part through either manually or electronically or any other medium is called external confirmation.

Requirement 3

To describe:

The role of professional skepticism while evaluating evidence obtained from confirmations.