Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Auditing Expert

Problem:

A group auditor is accountable for providing the audit opinion on group financial statements. There’re special considerations that apply to group audits, in particular those that involve component auditors.

Required:

(a) In brief describe the following terms employed in the audit of a group.

(i) Component materiality

(ii) Significant component

(iii) Group engagement partner

(iv) Group financial statements

(b) A group auditor needs to obtain an understanding of component auditor if it plans to request the latter to perform work on the financial information of a component. Illustrate out four (4) matters that will aid the group auditor to understand the component auditor.

(c) Illustrate out the type of work a group auditor needs to perform on financial information of:

(i) Significant Components

(ii) Not Significant Components

(d) Group management might need to keep certain material sensitive information confidential. State all four exs of matters that may be significant to the financial statements of component of which component management might be unaware.

Auditing, Accounting

  • Category:- Auditing
  • Reference No.:- M98041

Have any Question? 


Related Questions in Auditing

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 ...

Objectivesanswer the following questions with reference to

Objectives Answer the following questions with reference to the relevant common law and equity principles operating in Australia concerning contracts plus related and other transactions. Do not consider the effects of le ...

Auditor rotationread the article house counts on honor

Auditor Rotation Read the article, "House Counts on Honor Amongst Thieves: Votes Against Mandatory Auditor Rotation." Based on the information presented in the article, discuss the following: Article link: http://www.for ...

Assignment audit planning and controlit is common industry

Assignment: Audit Planning and Control It is common industry knowledge that an audit plan provides the specific guidelines auditors must follow when conducting an external audit. External public accounting firms conduct ...

Write a 750- to 1050-word paper on fraud auditing and it

Write a 750- to 1,050-word paper on fraud auditing and IT auditing. Describe the different kinds of fraud andthe Fraud Triangle, an auditor's responsibility to identify and assess fraud. Describe the specific risks, bene ...

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- auditing planthis assignment will require you

ASSIGNMENT- Auditing Plan. This assignment will require you to use the skills gained in Module/Week 8 to create an auditing plan for a sport or entertainment organization. Please select a professional sports team, colleg ...

Accounting - auditing paper questionsapa format minimum 3

Accounting - Auditing Paper / Questions APA format, minimum 3 pages +title,reference Please Answer Following Questions 1. Describe what are the 3 conditions that are likely to be present when a fraud occurs. 2. Which of ...

Questionnbspinstructions this assignment is to be submitted

Question:  Instructions: This assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook. It is the responsibility of the student who is submitting the work, to ...

Assignment 4 corners community nursery incthe organizations

Assignment: 4 Corners Community Nursery INC. The organization's mission is to act as a nursery school providing an enrichment program for pre-school children. Link to their website http://www.4ccn.org Link to IRS form 99 ...

  • 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