portioned depends on the actual situation. The specific audit procedures to obtain evidence regarding the opening balances include: Current assets and liabilities. Audit evidence about opening balances for current assets and liabilities may be obtained as part of the current period’s audit procedures. For example‚ the collection (payment) of opening account receivable (account payable) during the current period will provide some audit evidence of their existence‚ rights and obligations‚ completeness
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issue qualified opinion drawing attention to the scope limitation and the financial statements items that the auditor was unable to verify. o If inventory/cost sales is a pervasive component of the company’s financial performance‚ the auditor would have to give a denial of opinion. Scenario 3 o The auditor would need to assess the auditors qualifications‚ compliance with ethical requirements‚ quality control systems o If deemed necessary‚
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Why is it so important to have a time limit on a computer? What are the effects of screen time? What is screen time? Hi‚ I’m here to tell you that you should have a time limit on a screen. What is screen time? Screen time‚ is the time a person spends on an electronic device such as a computer‚ television‚ game consoles‚ tablet‚ and/or iphone. Screen time is nearly impossible to avoid. Technology is everywhere and accessible to anyone. TV‚ movies‚ video games‚ cell phones‚ music‚ social media‚ online
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Not all of us are blessed with perfect teeth. Some of us have bent cracked and chipped teeth. Such kind of appearance makes one quite uncomfortable and the person cannot even smile properly. It does also reduce one’s self confidence. Many people make use of braces to rectify the way their teeth appear. The braces straighten the teeth and also solve other problems. But the problem with braces is that it does take around a year to get the results. In order to get the desired outcome‚ one has to wear
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physical beings have inner lives‚ and experience the world just as we do. Humans feel anger‚ happiness‚ excitement‚ have beliefs‚ thoughts and emotions. However‚ what exactly justifies this certainty? Many philosophers and skeptics would disagree to such an argument with answers that make one question whether you yourself have a mind and are a thinking thing. Argument of other minds P1) In order for it to be possible to know whether other people have minds‚ I would have to have first person access
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6 Reasons why you should own a Dog. Being a dog owner generally enriches a people’s lives‚ making them healthier and happier. I am sure companionship and entertainment is one of the first thoughts that cross most people’s minds when they think of owning a new dog; however‚ there exists a myriad of benefits in dog ownership. Here are a few of the countless physical and mental perks that come with being a puppy parent. 1. A more cheerful you. Apart form providing great companionship‚ dogs can also
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to be like a baby and relax‚ sleep and eat. Having an extra hour of school wouldn’t be that bad as it seems and heres why! During school no one wants a hard time with worksheet‚ bad grades‚ and teachers. If the school time is extended you wouldn’t have to worry about giving yourself and others a hard time. There will be more grades‚ more time with favorite classes‚ and you wont have to cram worksheets all in one day because of time. Consider having extra time in school would help you more than it would
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The Audit Firm Culture and its Affects on Quality Audits By Danielle Reynolds A company’s culture has a large impact on the ethical behavior of employee’s and an employee’s ethical behavior plays an important role in the quality of the audit. Now‚ there are several factors that affect the quality of an audit but the one that will be focused on in this paper is the effect the audit firm culture has on the audit quality. Audit firm culture effects so many different things at a firm including
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Bagranoff and Henry article‚ cited in footnote 3‚ and the list of GAS in the Sayana article‚ cited in footnote 1. Experts say that generalized audit software (GAS) is the most common computer-assisted audit tool (CAAT) used in recent years. There are many reasons today for IT auditors to use a GAS‚ but to quote an article from this Journal‚ "Performing audits without using information technology is hardly an option."1 This article will inform IT auditors of the profitable return on learning and using
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external financial statement audits. 1. What is the purpose of a financial statement audit? a. To confirm the accuracy of management’s financial statements. b. To provide assurance that the audited entity is financially sound. c. To express an opinion on the fairness of the financial statements. d. To provide assurance that fraudulent activities have not occurred. 2. Information risk arises from which of the following situations? a. Adverse selection threats. b. Audit risk‚ inherent risk‚ control
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