Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Auditing Expert

Problem:

Diane Smith (ACA), carried out tests of controls and substantive tests of transactions for sales for month of March 2011 in audit of the financial statements for the year ended December 31, 2011.  Based upon the excellent results of both the tests of controls and substantive tests of transactions, she decided to extensively diminish her substantive tests of details of balances at year-end.

Required:

Assess and discuss her decision to significantly diminish the substantive tests of details of balances at year-end.

Auditing, Accounting

  • Category:- Auditing
  • Reference No.:- M99679

Have any Question? 


Related Questions in Auditing

Internal audithow could the effectiveness of the internal

Internal Audit How could the effectiveness of the internal audit function be improved to obtain better protection of shareholders and enable external auditors to provide a higher quality of audit opinion? Should any such ...

Audit report assignmentinstructions activities you will

Audit Report Assignment Instructions (Activities you will perform to help you write your assignment report): • Public Company is Under Armour, Inc. • Access the financial statements for a recent year through the SEC fili ...

Write a report that discusses emerging issuestop risks and

Write a report that discusses emerging issues/top risks and its impact on internal auditing. Topic: Third-party relationships - Ensuring third-party adherence to regulatory mandates Two pages' long Single spaced Times Ne ...

Generally accepted auditing standardscomplete problem below

Generally Accepted Auditing Standards Complete problem below and submit to your instructor. Write under the generally accepted auditing standards column the specific standard that was violated and how the action of Jones ...

Audit assurance and compliance assignmentquestion 1

Audit, Assurance and Compliance Assignment Question 1 - Impulse Pty Ltd (Impulse) is an entertainment system manufacturer that was established in 2005. Your audit firm King & Queen have been the auditor of Impulse since ...

Objectivesthis assignment is designed to assess students

OBJECTIVES This assignment is designed to assess students' ability to: - Produce a concise detailed report about the importance of information security audit policy and its components - To have excellent understanding re ...

Information security audit assignment -objectives - this

Information Security Audit Assignment - OBJECTIVES - This assignment is designed to assess students' ability to: Produce a concise detailed report about the importance of information security audit policy and its compone ...

Develop critical analysis skills in relation to auditor

Develop critical analysis skills in relation to auditor independence and issues in accepting audit engagements. Background information This assignment is based on the Professional Application Question 2.37 in your e-text ...

Background informationthis assignment is based on the

Background information This assignment is based on the Professional Application Question 2.37 in your e-text. Fellowes and Associates Chartered Accountants is a successful mid-tier accounting firm with a large range of c ...

Assignment accounting and audit enforcementusing the

Assignment: Accounting and Audit Enforcement Using the Internet, Strayer databases, or the Securities and Exchange Commission's Website, located at http://www.sec.gov/divisions/enforce/friactions/friactions2012.shtml, pe ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen