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.

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Answer 1

Question

Chapter 6, Problem 70FF

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.

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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,…

Solve the following question.

A. Griffin audited the financial statements of Dodger Magnificat Corporation for the yearended December 31, 2017. She completed gathering sufficient appropriate evidence onJanuary 30 and later learned of a stock split voted by the board of directors on February 5.The financial statements were changed to reflect the split, and she now needs to dual datethe report on the entity’s financial statements. Which of the following is the proper form?a. December 31, 2017, except as to Note X, which is dated January 30, 2018.b. January 30, 2018, except as to Note X, which is dated February 5, 2018.c. December 31, 2017, except as to Note X, which is dated February 5, 2018.d. February 5, 2018, except for the date of the auditor’s report, for which the date isJanuary 30, 2018.

Answer 2

Question

Chapter 6, Problem 70FF

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

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Answer 3

Question

Chapter 6, Problem 70FF

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

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Answer 4

Question

Chapter 6, Problem 70FF

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

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Answer 5

Chapter 6, Problem 70FF

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 70FF

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 70FF

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

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Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 6 - Prob. 1TFQ Ch. 6 - Prob. 2TFQ Ch. 6 - Prob. 3TFQ Ch. 6 - Prob. 4TFQ Ch. 6 - Prob. 5TFQ Ch. 6 - Prob. 6TFQ Ch. 6 - Prob. 7TFQ Ch. 6 - Prob. 8TFQ Ch. 6 - Prob. 9TFQ Ch. 6 - Prob. 10TFQ

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.

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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.