Which of the following is not a characteristic of the reliability of evidence? Independence of information...
Which of the following is not a characteristic of the reliability of evidence? Independence of information provider Effectiveness of client internal controls Timeliness Education of auditor
Homework Answers
Anwer - Education of Auditor
Education of auditor is not characteristic of reliability of evidence.
Below are the Charactristics of reliability of evidence
Independence of information provider - He must be reliable. Information provided by him should be authentic.
Effectiveness of client Internal control - It helps in deciding whether evidence is true or not
Timeliness - evidence should occure at the right time
Other charactristics are auditor knowledge, Degree of objectivity, qualification of individuals providing information.
Add Answer to:
Which of the following is not a characteristic of the
reliability of evidence? Independence of information...
Which of the following best represents a characteristic of managerial accounting? Multiple Choice Information is based...
Which of the following best represents a characteristic of managerial accounting? Multiple Choice Information is based on estimates and is bounded by relevance and timeliness. Information is characterized by reliability and objectivity. Information is historically based and reported annually. Information is regulated by the Securities and Exchange Commission.
I. Evidence should be relevant and reliable to be appropriate. Define the terms “Relevance” and...
I. Evidence should be relevant and reliable to be appropriate. Define the terms “Relevance” and “Reliability”. II. For each situation presented below, indicate which means of gathering evidence would be considered more reliable (#1 or #2) AND indicate a reason from the following list: A. Independent source of the information (Independence of provider); B. auditor’s direct knowledge; C. Knowledgeable source (qualifications of individual providing the information); D. degree of objectivity versus subjectivity;...
asap clearly pls Chapter 5 1. Evidence should be relevant and reliable to be appropriate. Define...
asap clearly pls
Chapter 5 1. Evidence should be relevant and reliable to be appropriate. Define the terms "Relevance" and "Reliability" II. For each situation presented below, indicate which means of gathering evidence would be considered more reliable (#1 or #2) AND indicate a reason from the following list: A. Independent source of the information (Independence of provider); B. auditor's direct knowledge; C. Knowledgeable source (qualifications of individual providing the information); D. degree of objectivity versus subjectivity; and E. Functioning...
QUESTION 5 Auditors inspecting a sample of accounts payable balances listed on the ledger and verifying...
QUESTION 5 Auditors inspecting a sample of accounts payable balances listed on the ledger and verifying that they are true payables owed by the client gather evidence in support of the _______ assertion. A. accuracy B. occurrence C. completeness D. existence QUESTION 6 As per the COSO Framework, the operations objectives of internal control include ________. A. the safeguarding of assets against loss B. the adherence to laws and regulations C. reliability and timeliness D. timeliness and transparency QUESTION 7...
1. Internal control has a direct effect on the reliability of internally generated audit evidence True...
1. Internal control has a direct effect on the reliability of internally generated audit evidence True False QUESTION 29 Internal control is not an element of quality control. True False QUESTION 30 The primary purpose of an audit is to express an opinion as to the fairness of the financial statement presentation. False QUESTION 31 If the auditor is uncertain as to the client's ability to continue as a going concern, but the client adequately discloses the situation, then the...
1.Which of the following is not one of the steps the auditor must perform to assess...
1.Which of the following is not one of the steps the auditor must perform to assess control risk at less than “high” for a financial statement assertion? A) obtain an understanding of internal control B) identify controls that address all relevant assertions in the financial statements C) make a preliminary assessment of control risk based on the design of relevant controls D) test the operating effectiveness of the controls that must be effective to reduce control risk 2.Which of the...
Which of the following statements best describes why an auditor would use only substantive procedures to...
Which of the following statements best describes why an auditor would use only substantive procedures to evaluate specific relevant assertions and risks? Multiple Choice The relevant internal control components are not well documented. The internal auditor already has tested the relevant controls and found them effective. The cost of substantive procedures will exceed the cost of testing the relevant controls. Testing the operating effectiveness of the relevant controls would not be efficient.
Which of the following is not a provision of the Sarbanes-Oxley Act of 2002? a) The...
Which of the following is not a provision of the Sarbanes-Oxley Act of 2002? a) The company's external auditors are required to attest to the accuracy of the internal controls report. b) Companies are required to report on the effectiveness of their internal controls. c) The chief executive officer and the chief financial officer are jointly responsible for establishment and enforcement of internal controls. d) The company's external auditor is charged with the ultimate responsibility for the accuracy of the...
Which of the following is not a result or characteristic of the Sarbanes- Oxley Act? a....
Which of the following is not a result or characteristic of the Sarbanes- Oxley Act? a. Strong internal controls over the recording of transactions b. Restoration of public confidence and trust in the financial statements of companies O c. Effective internal controls over the preparation of financial statements Od. Complete elimination of fraud and theft
According to Statement of Financial Accounting Concepts No. 8, which of the following is not considered...
According to Statement of Financial Accounting Concepts No. 8, which of the following is not considered a qualitative characteristic of accounting? Respectability Relevance Timeliness Reliability
Which of the following best represents a characteristic of managerial accounting? Multiple Choice Information is based on estimates and is bounded by relevance and timeliness. Information is characterized by reliability and objectivity. Information is historically based and reported annually. Information is regulated by the Securities and Exchange Commission.
asap clearly pls
Chapter 5 1. Evidence should be relevant and reliable to be appropriate. Define the terms "Relevance" and "Reliability" II. For each situation presented below, indicate which means of gathering evidence would be considered more reliable (#1 or #2) AND indicate a reason from the following list: A. Independent source of the information (Independence of provider); B. auditor's direct knowledge; C. Knowledgeable source (qualifications of individual providing the information); D. degree of objectivity versus subjectivity; and E. Functioning...
1. Internal control has a direct effect on the reliability of internally generated audit evidence True False QUESTION 29 Internal control is not an element of quality control. True False QUESTION 30 The primary purpose of an audit is to express an opinion as to the fairness of the financial statement presentation. False QUESTION 31 If the auditor is uncertain as to the client's ability to continue as a going concern, but the client adequately discloses the situation, then the...
Which of the following is not a result or characteristic of the Sarbanes- Oxley Act? a. Strong internal controls over the recording of transactions b. Restoration of public confidence and trust in the financial statements of companies O c. Effective internal controls over the preparation of financial statements Od. Complete elimination of fraud and theft
Most questions answered within 3 hours.
-
1- What are 5 general characteristics of Botticelli’s
paintings?
2- Describe 5 important traits of Flemish...
asked 1 hour ago -
A golfer claims that his average golf score at the course he
plays regularly is less...
asked 1 hour ago -
On May 1, First Bank perfected a security interest in Debtor’s
inventory. On June 1, Bob...
asked 2 hours ago -
A new kind of typhoid shot is being developed by a medical
research team. The old...
asked 3 hours ago -
Write a chemical equation for these reactions. (Use
the lowest possible whole number coefficients.) Include
states-of-matter...
asked 5 hours ago -
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 6 hours ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 9 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 9 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 9 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 9 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 9 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 9 hours ago