EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
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Question
Chapter 9, Problem 33DQP
To determine
Explain the meaning of acceptable audit risk and state whether the given statement is true or false.
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Provide correct answer the following requirements on these financial accounting question
Your firm has been the auditor of Caribild Products, a listed company, for a number of years. The
engagement partner has asked you to describe the matters you would consider when planning the audit for
the year ended 31January 2022.
During recent visit to the company you obtained the following information:
(a) The management accounts for the 10 months to 30 November 2021 show a revenue of $260 million and
profit before tax of $8 million. Assume sales and profits accrue evenly throughout the year. In the year
ended 31 January 2021 Caribild Products had sales of $220 million and profit before tax of $16 million.
(b) The company installed a new computerised inventory control system which has operated from 1 June
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(i) To use the inventory quantities on the computer to value the inventory at the year-end
(ii) Not to carry out an inventory count at the year-end
(c) You…
Chapter 9 Solutions
EBK AUDITING+ASSURANCE SERVICES
Ch. 9 - Prob. 1RQCh. 9 - Prob. 2RQCh. 9 - Provide two examples of factors that might...Ch. 9 - Prob. 4RQCh. 9 - Prob. 5RQCh. 9 - Prob. 6RQCh. 9 - Prob. 7RQCh. 9 - Prob. 8RQCh. 9 - Prob. 9RQCh. 9 - Prob. 10RQ
Ch. 9 - Prob. 11RQCh. 9 - Prob. 12RQCh. 9 - Prob. 13RQCh. 9 - Prob. 14RQCh. 9 - Prob. 15RQCh. 9 - Prob. 16RQCh. 9 - Prob. 17RQCh. 9 - Prob. 18RQCh. 9 - Prob. 19RQCh. 9 - Prob. 20RQCh. 9 - Prob. 21RQCh. 9 - Prob. 22RQCh. 9 - Prob. 23RQCh. 9 - Prob. 24RQCh. 9 - Prob. 25.1MCQCh. 9 - Prob. 25.2MCQCh. 9 - Prob. 25.3MCQCh. 9 - Prob. 26.1MCQCh. 9 - Prob. 26.2MCQCh. 9 - Prob. 26.3MCQCh. 9 - Prob. 27.1MCQCh. 9 - Prob. 27.2MCQCh. 9 - Prob. 27.3MCQCh. 9 - Prob. 28.1MCQCh. 9 - Prob. 28.2MCQCh. 9 - Prob. 28.3MCQCh. 9 - Prob. 29DQPCh. 9 - Prob. 30DQPCh. 9 - Prob. 31DQPCh. 9 - Prob. 33DQPCh. 9 - Prob. 34DQPCh. 9 - Prob. 35DQPCh. 9 - Prob. 36DQPCh. 9 - Prob. 37DQPCh. 9 - Prob. 39C
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