Final Review Questions Chloe Granahan 1. Assume that the audit team notes the client has made a significant change in its product line which requires that new equipment be purchased. Which of the following would be of greatest concern to the auditor? A. Inappropriate book value of new equipment. B. Impaired value of new equipment. C. Impaired value of old equipment. D. Inappropriate depreciation calculation for new equipment. 2. A. B. C. D. Audit procedures should be proportional to which of the following
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Evidence of Photosynthesis Photosynthesis is the process during which a plant’s chlorophyll traps light energy and sugars (glucose) are produced. In plants‚ photosynthesis occurs only in cells with chloroplasts. Water (H2O)‚ carbon dioxide (CO2) and light energy are required. The light energy is absorbed by the green pigment‚ chlorophyll‚ and is converted into chemical energy‚ which causes the water drawn from the soil to split into molecules of hydrogen and oxygen. The hydrogen combines with
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A cybercrime suspect can sometimes use creative means to commit his or her criminal offense. Some examples of sources a cybercrime suspect controls from which digital evidence may be obtained are listed below. 1) Computer systems‚ which consists of hardware and software that process data and is likely to include the case containing circuit boards‚ microprocessors‚ hard drive‚ memory‚ and interface connections‚ the monitor‚ keyboard‚ and mouse. A cybercrime suspect with a computer anywhere in
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CHAPTER 17 COMPLETING THE AUDIT ENGAGEMENT Answers to Review Questions 17-1 A contingent liability is defined as an existing condition‚ situation‚ or set of circumstances involving uncertainty as to possible loss to an entity that ultimately will be resolved when some future event occurs or fails to occur. FASB ASC Topic 450‚ “Contingencies‚” classifies uncertainties into three categories: 1. Probable: The future event is likely to occur. 2. Reasonably possible: The chance of the future
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2013 Antonio‚ Mark Earl Angelo P. ACT162 – B74 3/3/2013 2013 Antonio‚ Mark Earl Angelo P. ACT162 – B74 3/3/2013 Critique Paper #03: Completing the Audit and Post-Audit Responsibilities Critique Paper #03: Completing the Audit and Post-Audit Responsibilities Summary The first article of Moez Bennouri‚ entitled “Does Auditors’ Reputation ‘Discourage’ Related Party Transactions? The French Case” studies the relationship between the frequency of RPTs and the external auditors’ reputation
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Fingerprint Evidence Jose Tapia Lt. Lathrop CO8 June 10‚ 2013 Introduction The Study of fingerprints became one of the most important aspects in criminal investigations and forensic detections. This is because fingerprint identification is far too unique‚ and its success rate outperforms even DNA identification. Fingerprints identified at crime scenes fall into three categories‚ latent‚ plastic‚ and visible fingerprints. Many people don’t realize is that the importance of the fingerprints
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Plan‚ perform and advise on a variety of external audit assignments in connection with financial and worksite enforcement. Perform audits of suspected criminal organizations and businesses for the purpose of substantiating compliance with laws and regulations. Provide technical assistance and analysis to Criminal Investigators and others. Review financial documents and employment documents. Conduct systematic examinations of financial records associated with financial and worksite enforcement investigations
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1. A. Fossil evidence has been used to support evolution. Paleontologists have dug up old bones and other things that were preserved in sedimentary rock. All of these things that were found show evidence that there was life long ago‚ however that’s not the only thing these fossils show. Fossils also show that there have been changes in the organisms that have inhabited this earth. The reason it supports that is once we compare the fossils to another organism‚ by using many different techniques‚ we
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Control Through Inspection and Internal Audit ............................................................. 28 Chapter 5: Legal Framework and KYC Policies.......................... 35 Part II: Domain of Concurrent Audit Chapter 1: Evolution of Concurrent Audits in Banks................... 59 Chapter 2: General Guidelines on Concurrent Audit .................. 62 Chapter 3: Conduct of Concurrent Audit..................................... 91 Chapter 4: Concurrent Audit Universe and Procedures...........
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Value and Preservation of Evidence Kaplan University CJ370-01 January 16‚ 2012 The value of footprint or footwear evidence is heavily important. The most valuable details are signs of wear‚ characteristic fittings or marks of fittings that have come off‚ injuries‚ marks of nails and pegs‚ especially when these are irregularly placed‚ and repair marks. If they are particularly characteristic or occur in sufficient numbers‚ such details may form decisive evidence. In the interest of thoroughness
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