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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mathematics‚ the exponential function is the function ex‚ where e is the number (approximately 2.718281828) such that the function ex is its own derivative.[1][2] The exponential function is used to model a relationship in which a constant change in the independent variable gives the same proportional change (i.e. percentage increase or decrease) in the dependent variable. The function is often written as exp(x)‚ especially when it is impractical to write the independent variable as a superscript.
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Audit Plan- GlaxoSmithKline (GSK) Key business and audit risk: In order to make the report more efficient we must identify the key areas of business risk and auditing risk. Business risk can be defined as the risk‚ which could affect an organization’s ability to achieve its objectives (Gray and Manson‚ 2007). Audit risk is defined as the risk that the auditor gives an inappropriate audit opinion when the financial statements are materially misstated (Soltani‚ 2007). In Gray and Manson (2007)’s
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primary care physicians. A marketing audit of Schering Plough will be conducted to analyze the marketing strategy of the company. The marketing audit will provide information on the external environment‚ internal structure of the company‚ assess the company ’s marketing program‚ performance‚ how the company ’s business objectives translated into successful marketing plans and provide recommendations for future consideration. The following parts of the marketing audit will be discussed. Executive Summary
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LECTURES 2-3 CORPORATE CARBON AUDIT Agenda Carbon Footprint Concepts Why and What Carbon Measurement Standards and Procedures Emission Scopes and Conversion Factors Assignment 1 Agenda Carbon Footprint Concepts Why and What Carbon Measurement Standards and Procedures Emission Scopes and Conversion Factors Assignment 2 Carbon footprint is a “measure of the impact human Carbon Footprint activities have on the environment in terms of the amount of green house
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ABC SDN. BHD. (Incorporated in Malaysia) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ABC SDN. BHD. Report on the Financial Statements We have audited the financial statements of ABC SDN. BHD.‚ which comprise the balance sheets as at 30 September 2010 of the Group and of the Company‚ and the income statements‚ statements of changes in equity and cash flow statements of the Group and of the Company for the year then ended‚ and a summary of significant accounting policies and other explanatory
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cause the audit team to have substantial doubt about Fast Go ability to continue as a going concern‚ what is the next step the audit team needs to perform? The next step that the audit needs to perform are‚ the audit team must seek information about management’s plans to mitigate all the problem that Fast Go suffer for example the debt‚ the competition and etc. Besides‚ the audit team also must assess the likelihood that such plans can be successfully implemented. Furthermore‚ the audit team also
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AUDITING ASSIGNMENT Topic: Auditing Assurance Standard IX Using the Work of an Expert By: Yash Mehta Tybcom – B 182 Acknowledgment I would like to thank Geeta ma’am for the opportunity given to us for making this informative project Would also like to thank KC COLLEGE for the knowledge we gain through such an interactive project.
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Highlander International‚ Inc. is a public corporation‚ which lists its stock on NYSE. It is known for design‚ manufacturing‚ and distribution of toys and sporting goods. Over the past several years‚ Highlander has been experiencing increasing sales and recently posted revenues of $10.7 billion. Its primary US customers include ToysRUs‚ Target‚ and Walmart. Since 2000‚ it has been audited by E&Y. Highlander International‚ Inc. hired Max Million as the company started to reach $25 in sales and
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the following statements is not true? The answer is B‚ Balance-related audit objectives are applied to both beginning and ending balances in balance sheet accounts. The reason this is the right answer is because the way audits are preformed‚ balance-related audit objectives are almost always applied to the ending balance sheet accounts. It never applies to the beginning balance in the balance sheet accounts. (Page 158) 8. Audit evidence has two primary qualities for the auditor; relevance and reliability
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