456 Chapter Eleven Appendix 11B Illustrative Audit Case: Keystone Computers & Networks‚ Inc. Part III: Substantive Tests—Accounts Receivable and Revenue This part of the audit case illustrates the manner in which the auditors design substantive tests of balances. The substantive tests are illustrated for two accounts—receivables and revenue. This aspect of the audit is illustrated with the following audit documentation: • ABC’s risk assessment working paper that combines the auditors’ assessments
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Ethical Counterarguments Two ethical arguments are sometimes advanced to justify the use of placebos when effective therapies exist. First‚ one can argue that withholding an accepted treatment may not lead to serious harm. For example‚ treating pain or nausea with a placebo may cause no long-term adverse effects‚ and the patient can call attention to any treatment failure or even choose to drop out of the study. Nevertheless‚ although withholding an accepted treatment may occasionally seem innocuous
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Ethical Egoism is “the doctrine that each person ought to pursue his or her own self-interest exclusively” (Rachels 71). With Ethical Egoism‚ we ought to do what is in our own self-interest‚ instead of trying to do what is in. While we are exclusively pursuing our own interests‚ we can still help people because in many ways‚ when you help yourself‚ you are also in a way helping others who are benefiting from your rewards. Rachels uses the explanation of when you convince a teacher to cancel an assignment
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Introduction This paper will address the topic of ethical integrity‚ and it outcome. Ethical standards are very important to have. It is extremely important to be able to set a stand and have a clear understanding of what is ethical or not. First let’s clearly define what plagiarism is and is it ethical. To help address beliefs on this topic a little research had to be done. After carefully reviewing the definition of plagiarism‚ and copying it was discover that I have witness plagiarism and I truly
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with the auditor’s responsibility to identify and assess the risks of material misstatement in the financial statements‚ through understanding the entity and its environment‚ including the entity’s internal control. Effective Date: Effective for audits of F/S for periods ending on or after December 14‚ 2010. Objective: The objective of the auditor is to identify and assess the risks of material misstatement‚ whether due to fraud or error‚ at the financial statement and assertion levels‚ through
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1 Chapter 7: Audit Evidence I. Definition: Evidence – information used by the auditor to draw conclusions on the fair presentation of the financial statements. Audit objectives suggest the types of evidence to accumulate. II. Decisions on evidence accumulation A. Which audit procedures to use. General Objectives: Six TRAOs Eight BRAOs Four PDAOs Accounting Cycles: Five Management Assertions Specific Objectives: At least: Six TRAOs Eight BRAOs Four PDAOs Audit Procedures: At least one
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CHAPTER 20 Audit of Cash Balances Copyright 2003 Pearson Education Canada Inc. 20 - 1 What are the auditor’s primary concerns with regard to cash? Copyright 2003 Pearson Education Canada Inc. 20 - 2 What are the auditor’s primary concerns with regard to cash? - existence Copyright 2003 Pearson Education Canada Inc. 20 - 3 What are the auditor’s primary concerns with regard to cash? - existence - completeness Copyright 2003 Pearson Education Canada Inc
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the circumstances and opinion expressed by an auditor‚ where he is unable to obtain sufficient audit evidence. 2. Auditors of M/s Santa Banta (P) Ltd. were changed for the accounting year 2010-11. However there was no change in the position of closing stock which remained at ` 400 lacs . The auditors of the company propose to exclude the audit of closing stock of ` 400 lacs from their audit programme on the understanding that it pertains to the preceding year which was audited by another
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Thesis: Ethical Objectivism exists because 1) Moral Principles don’t require an author; 2) the deepest moral principles are objectively right or wrong‚ independent of human and divine opinion; 3) some moral standards are universal. A1: Some moral principles such as if one kills‚ then one does wrong‚ have always existed and are eternal and have no author; as Shafer-Landau said‚ “It will continue to be true even after the human race is extinct.” O1: Argument 1 is unconvincing because‚ just as the
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ACL ADMINISTRATION PAYCHECK FILE How many records are there in database? There are 147 records in the paycheck file. How many data validity errors are there in the database? There were no validity errors in the database; all records are entered into the system‚ thus makes it all valid. What are the following totals? Gross Pay (TOTAL_GROS) = 178‚831 Taxes withheld (TOTAL_TAXE) = 36‚584 Deductions withheld (TOTAL_DEDU) = 24‚947 Net Pay (NET_PAY) = 117‚292 EMPLOYEE FILE How
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