PAPER – 6 : AUDITING AND ASSURANCE QUESTIONS Nature of Auditing 1. (a) Briefly explain the relationship between Auditing and Behavioural Science. (b) “The auditor fails to obtain sufficient information to form an overall opinion on the matters contained in the financial statements.” In the light of the above statement briefly explain 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
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Review Questions 1. What is liver mortis? How might this reveal information about the time of death? Liver mortis is the setting of blood in the lower part of the body. This process starts right after death and reaches its max at about 8 – 12 hours after death. This isn’t the best way to determine the time of death‚ it tells investigators in some cases whether the body has been moved after the person has died. 2. What three aspects does a forensic autopsy seek information about? Describe each of
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Fundamental concepts of f/s audit Materiality misstatement of accounting information. is a matter of professional judgment Audit risk The auditor expresses an inappropriate audit opinion when the financial statements are materially misstated‚ Evidence (more than “per discussion with client) Major phrases of audit: Client acceptance/continuance; Preliminary engagement activities; Establish materiality and assess risks; Plan the audit ;Consider and audit internal control; Audit business processes and
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Services in Malaysia: An Integrated Approach‚ 2nd Edition‚ Prentice-Hall Malaysia‚ 2008. 5. William F. Messier‚ Jr. Stevan M. Glover‚ Douglas F. Prawitt and Margaret Boh‚ Auditing and Assurance Services in Malaysia‚ 3rd Edition‚ McGraw Hill‚ 2007. 6. Malaysian Institute of Accountants (MIA): Malaysian Approved Standards on Auditing 7. Malaysian Code of Corporate Governance‚ 2012. 8. Bursa Malaysia Listing Requirements‚ 2012.
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Chapter 6 Review Questions 1. Coral reefs are elaborate networks of crevices‚ ledges‚ and holes made up of calcium carbonate; coral polyps are tiny animals that build coral reefs by secreting a crust of limestone around their bodies that accumulate once multiple polyps die. Coral reefs help moderate atmospheric temperatures by removing CO2 from the atmosphere‚ act as natural barriers that help protect 15% of the world’s coastlines from erosion by battering waves and storms‚ provide habitats for
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drank was a sign of your social status in Rome. The more wine you drank‚ the richer you were. Although‚ even the poorest worker had at least one glass of wine every day. 5. Wine didn’t cost as much in Rome; which means you could drink more everyday. 6. In the Roman Empire‚ wine was given to other countries in order to show how rich they were. The medicinal use of wine was to clear heads and thoughts. Wine was
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Week 6 - DQ 1 Do social inequities (for example‚ certain individuals preferred over others for jobs‚ housing financing‚ and so on) based on race still occur? If so‚ what are some examples that you have seen? I have not seen social inequities based on race‚ but I have heard about it still going on. I have heard that the African Americans get more food stamps than white people. I do not know if it is true or not. I know many black people that do not want any financial help‚ and I know plenty
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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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Guide Questions What effect does increasing the tension have on the number of segment formation? Explain your answer. According to a theory‚ changing the tension will definitely change the number of segments. From equation three‚ the frequency is directly proportional to the number of segments and the tension and inversely proportional to the mass density and the length of the wire. Manipulating the formula to solve for the number of segments‚ n‚ is inversely proportional to the tension‚ thus
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Jamachi Eluchie Comprehensive Analysis and Response for A History of the World in 6 Glasses 1. Beer influenced the transition from hunting and gathering to agricultural based societies because it gave people a keen interest in grain storage. Beer was discovered as gruel‚ a mixture of water and grain‚ that was heated. It stimulated a dopaminergic release‚ causing the people that experienced the flavor to yearn for that rewarding sensation more. Standage noted that people could store a pound of
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