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

Assignmentinstructions- the front style for your answer

Assignment Instructions: - The front style for your answer should be set to "Time New Roman" size 12 with 1.5 line spacing, 2.5cm margin & A4 page layout. - The assignment should be typed and show the student's name and ...

Backgroundthere are two parts to the assignment the first

Background There are two parts to the assignment. The first part requires students to set up an entity's books in MYOB and process transactions to relevant accounts. The second part requires students to prepare a documen ...

Question beauty ltd sells cosmetics and markets itself on

Question: Beauty Ltd sells cosmetics and markets itself on the basis that its products have not been tested on animals. it has ethical policies towards its staff and suppliers, and that it takes corporate responsibility ...

Auditing and assurance services assignment- onetel

AUDITING AND ASSURANCE SERVICES ASSIGNMENT- One.Tel Case Strategic Business Risk Assessment, Inherent Risk Assessment and Preliminary Going Concern Assessment Nature of the Entity's Business One.Tel was launched in Sydne ...

Need to do question 2 3 and 4question 1- lcm is the wealth

Need to do question 2, 3 and 4. Question 1:- LCM is the wealth management division of Majestic Bank (Majestic) and provides investment, superannuation, insurance and private wealth solutions to corporate and institutiona ...

Onetel casestrategic business risk assessment inherent risk

One.Tel Case Strategic Business Risk Assessment, Inherent Risk Assessment and Preliminary Going Concern Assessment Nature of the Entity's Business One.Tel was launched in Sydney, Australia in May 1995. They were describe ...

Topic fraud auditingyour assignment should answer the

Topic: "Fraud auditing" Your assignment should answer the following questions: 1. Provide a brief overview of the nature of the auditing/ethical issue/s involved with Fraud Auditing. 2. How does auditing promote common g ...

The following are specific transaction-related audit

The following are specific transaction-related audit objectives applied to the audit of cash disbursement transactions (a through f), management assertions about classes of transactions (1 through 5), and general transac ...

Trust takes years to build seconds to break and forever to

Trust takes years to build, seconds to break and forever to fix What does this say about the auditor/management relationship? Reference apa style atleast 2 refernces

Q1 focus of the auditor is no longer on the routine audit

Q1) Focus of the auditor is no longer on the routine audit but rendering value added services like cost efficiency and decision making. Critically examine the statement with particular emphasis on the changing computer e ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate