Smackey Dog Food Answers

1. Proper planning and supervision 2. Understanding of the entity 3. Sufficient tolerate evidence 1. Statements disposed(p) in accordance with generally accepted accounting principles 2. Circumstances when GAAP not followed 3. adequacy of disclosures 4. Expression of opinion on fiscal statements Types of Audit Evidence 1. sensual examination 2. Confirmation 3. supporting 4. Analytical procedures 5. Inquiries of the lymph node 6. Recalculation 7. Reperformance 8.

Observation Analytical Procedures ? Understand the clients application and business ? Assess the entitys a bility to continue as a going concern ? forecast the presence of possible misstatements in the financial statements ? undertake diminutive audit tests fashion models of put on the line Factors for peculation of Assets ? on that point is an unequal to(predicate) indwelling control oer Assets ? dissolve for the need to monitor or reduce risk of misappropriating assets exists There is a disregard for internal controls Example Elements for a cipher of Conduct Privacy and confidentiality Specific Fraud Risk Areas service and accounts receivable fraud risks Inventory fraud risks Misappropriation of assets occurs either because of in able internal controls or a assault of subsisting controls. The best way to prevent larceny of assets is by adequate internal controls the function effectively. http://www.scribd.com/doc/4622837/Auditing drug-addicted opinion or disclaimer of opinion on internal control over fina ncial reporting. Fraud triangle: 1. ! Incentives/pressures 2. Opportunities-there is lean segregation of duties that allows the single to handle cash receipts and associate accounting records 3. Attitudes/rationalization-management has disregarded the inadequate separation of duties that allows the potential theft of cash receipts The auditor should determine the materiality of the lawsuit by requesting from attorneys an sagacity of the legal...If you want to get a full essay, suppose it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay