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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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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AUDITING THEORY 1. Which of the following activities is an analytical procedure an auditor would perform in the final overall review stage of an audit to ensure that the financial statements are free from material misstatement? A. Reading the minutes of the board of directors’ meetings for the year under audit. B. Obtaining a letter concerning potential liabilities from the client’s attorney. C. Comparing the current year’s financial statements with those of the prior year. D. Ensuring that
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SEMESTER 1‚ 2013 SEMINAR 9 - PROBLEM QUESTIONS PROBLEM 9.1 While assessing the risk of material misstatement and determining the appropriate response with regard to the inventory of Ace Computers Ltd (Ace) for the year ended 30 June 2011 audit‚ you become aware of the following information: 1. The best-selling computer presentation package has been experiencing a high level of returns owing to suspected software problems. 2. Based on closing inventory‚ inventory turned over
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Beginning the Audit Report Peter Serunjoji ACC546 January 15‚ 2012 Arlette Peoples Beginning the Audit Report MEMORANDUM TO: Larry Lancaster‚ Chairman‚ President‚ and CEO of Apollo Shoes‚ Inc. FROM: Matrix Certified Public Accountants (MCPA) Inc.‚ DATE: January 15 2012 SUBJECT: Beginning the Audit Report (Engagement letter‚ Engagement checklist‚ Outline of timeframes and milestones of the audit) Dear Mr. Lancaster‚ This letter is to confirm the
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One to three years What do we mean by growth and development? Growth is the increase in size of the body – in height‚ weight and other measurable areas. Development is the gaining of skills in all aspects of the child’s life. The different types of development are often split into four areas: Physical development: this refers to the body increasing in skill and performance and includes: gross motor development (using large muscles)‚ for example legs and arms fine motor development (precise
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LO1 P.I.E.S How your child learns‚ speaks‚ plays‚ moves and acts offers you important information about how your baby is developing. Development milestones are the P.I.E.S‚ physical‚intellectual‚emotional‚social things that most baby can do by a certain age. 0-2 months Physically at 0-2 months babies can hold their head up with little help from their parents as well as being able to swiftly push themselves up when lying on their tummy. They are able to make smoother movements with their arms
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Flash Technologies‚ Inc Memo to the Planning File by Audit Manager – General Information 12/31/2008 General Background Information Emanuel “Manny” Schwimez‚ is the CEO and chairman of the board of Flash. Mr. Schwimez is originally from Tel Aviv. He has an impressive resume‚ including a master’s degree from the London School of Economics and many years of eexecutive-level experience. He has led several high technology companies in the U.S and abroad since the early 1970’s. In 1990 he became president
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History & Grameenphone Milestones 2011 Launched ‘My zone’- location based discount on usage‚ Micro SIM cards for iPhone‚ Spondon Package with 1-sec pulse; Grameenphone Branded Handset (C200‚ QWERTY handset ‘Q100’ and Android Handset ‘Crystal’)‚ Customer Experience Lab‚ eCare solution; Completed swapping of 7‚272 nos. of BTS; Reached 36.5 Million Subscribers 2009 Listed on Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.; Launched Internet Modem‚ Special Olympic Regional Talent Hunt‚
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