Auditing: A Risk Based-Approach to Conducting a Quality Audit
10th Edition
ISBN: 9781305080577
Author: Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher: South-Western College Pub
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Question
Chapter 7, Problem 58FF
a.
To determine
Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the
Concerned topic for potential auditor that inherent and control risks at Kid Castle.
b.
To determine
Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.
Review the financial statements and decision taken by the auditor that is likely to be concluded that there was a heightened risk of fraud.
c.
To determine
Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.
Recommendation for the auditor plan to conduct more substantive
d.
To determine
Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.
Give details about the appropriateness of hiring a foreign audit firm to conduct the majority of audit work on an engagements and on BSP’s action.
e.
To determine
Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.
Design the frame work for showing quality professional decisions and where the things were wrong and other changes that should have been implied for different result.
f.
To determine
Introduction: Audit is the activity performed by the professional known as the auditor. In audit the validity and reliability of the information given by the company is correct of not. True and fair view of the books of accounts is shown in the balance sheet of the company and annually present to the shareholder and boards of director of the company.
The risk involved by audit firm in attempting to audit a company in an international location.
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J, B & J, Certified Public Accountants, has audited the Highcredit Corporation for the past five years. Recently, the Securities and Exchange Commission (SEC) has commenced an investigation of Highcredit for possible violations of Federal securities law. The SEC has subpoenaed all of J, B & J’s working papers pertinent to the audit of Highcredit. Highcredit insists that J, B & J not turn over the documents to the SEC. What action should J, B & J take? Why?
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d. The CPA and XM president each owns 25% of FOB Corporation, a
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8. Which of the following statements best describes why the CPA profession has
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of flexible ethical standards by the profession.
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to the public.
stablishment
CHAPTER 3 CODE OF PROFESSIONAL ETHICS
53
that stress primarily a responsibility to clients and colleagues.
d. A requirement of most laws calls for the profession to establish code of
ethics.
11iched 1.
Chapter 7 Solutions
Auditing: A Risk Based-Approach to Conducting a Quality Audit
Ch. 7 - Prob. 1TFQCh. 7 - Prob. 2TFQCh. 7 - Prob. 3TFQCh. 7 - Prob. 4TFQCh. 7 - Prob. 5TFQCh. 7 - Prob. 6TFQCh. 7 - Prob. 7TFQCh. 7 - Prob. 8TFQCh. 7 - Prob. 9TFQCh. 7 - Prob. 10TFQ
Ch. 7 - Prob. 11TFQCh. 7 - Prob. 12TFQCh. 7 - Prob. 13TFQCh. 7 - In terms of the timing of the risk response, the...Ch. 7 - Prob. 15MCQCh. 7 - Prob. 16MCQCh. 7 - Prob. 17MCQCh. 7 - Prob. 18MCQCh. 7 - Prob. 19MCQCh. 7 - Prob. 20MCQCh. 7 - Prob. 21MCQCh. 7 - Prob. 22MCQCh. 7 - Prob. 23MCQCh. 7 - Prob. 24MCQCh. 7 - Prob. 25MCQCh. 7 - Prob. 26MCQCh. 7 - Prob. 27MCQCh. 7 - Prob. 28MCQCh. 7 - Prob. 29RSCQCh. 7 - Prob. 30RSCQCh. 7 - Define the following terms: (a) performance...Ch. 7 - Prob. 32RSCQCh. 7 - Prob. 34RSCQCh. 7 - Prob. 35RSCQCh. 7 - Prob. 36RSCQCh. 7 - How does inherent risk relate to internal...Ch. 7 - Prob. 38RSCQCh. 7 - Prob. 39RSCQCh. 7 - Prob. 40RSCQCh. 7 - Prob. 43RSCQCh. 7 - Prob. 45RSCQCh. 7 - Prob. 46RSCQCh. 7 - Prob. 47RSCQCh. 7 - Prob. 48RSCQCh. 7 - Prob. 49RSCQCh. 7 - Prob. 52RSCQCh. 7 - Prob. 53RSCQCh. 7 - Prob. 54RSCQCh. 7 - Prob. 55RSCQCh. 7 - Prob. 56RSCQCh. 7 - Prob. 57RSCQCh. 7 - Prob. 58FF
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