Introduction:The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.
Requirement 1
To ascertain:Out of the two auditors, the right one or both
Introduction:Audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.
Requirement 2
To ascertain:The assertion is tested by the second auditor
Introduction: The audit approach is the strategy for conducting an audit by the auditor. The approach varies with different clients, depends upon the number of factors like the nature of the business, the level of cooperation, the adequacy, etc. The planned audit approach should be effective and efficient. The assessment of control risk determines the audit approach.
Requirement 3
To ascertain: The dual purpose test
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Chapter 9 Solutions
Auditing: A Risk Based-Approach (MindTap Course List)
- Question Content Area Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses process costing to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows:arrow_forwardQuestion Content Area Work in Process Account Data for Two Months; Cost of Production Reports Pittsburgh Aluminum Company uses process costing to record the costs of manufacturing rolled aluminum, which consists of the smelting and rolling processes. Materials are entered from smelting at the beginning of the rolling process. The inventory of Work in Process—Rolling on September 1 and debits to the account during September were as follows:arrow_forwardA B CORRECT ANSWER PLEASarrow_forward
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Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub