Homework Answers
Answer
- The correct answer is Option #1:
The nature and extent of a CPA firm’s quality control and procedures depends largely upon the CPA Firm’s size, its nature of Practice and cost – benefit considerations.
--Hence, YES, YES and YES.
- The factor on which quality control and procedure depends include the size of firm, degree of autonomy of employees, nature of practice involved, kind of organisation and cost benefit factor involved in those control and procedure application.
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The following questions concern quality control standards. Choose the best response a. The nature and extent...
Which of the following are elements of a CPA firm's quality control that should be considered...
Which of the following are elements of a CPA firm's quality control that should be considered in establishing its quality control policies and procedures? Human Resources Yes Yes No Yes Monitoring O 1. O 2. 03. O 4. Yes Yes Yes No No Yos Yes Yes
Which of the following is an element of a CPA firm's quality control policies and procedures...
Which of the following is an element of a CPA firm's quality control policies and procedures applicable to the firm's auditing practice? Professional skepticism of management. Computer information processing Efficiency of organizational structures. Acceptance of a client relationship,
he following questions address CPA firms and entities that regulate them. Choose the best response a....
he following questions address CPA firms and entities that regulate them. Choose the best response a. An auditor of an entity subject to the rules of the SEC must conduct the financial statement audit in accordance with O 1. PCAOB standards O 2. Statements on Standards for Accounting and Review Services O3. International Auditing Standards O 4. Generally Accepted Government Auditing Standards
The following questions concern internal controls in the payroll and personnel cycle. Choose the best response....
The following questions concern internal controls in the payroll and personnel cycle. Choose the best response. a A factory foreman at Steblecki Ltd discharged an hourly worker but didn't notify the payroll department. The foreman then forged the worker's signature on time cards and, when giving out the cheques, diverted the payroll cheques drawn from the discharged worker to his own use. The most effective procedure for preventing this activity is to: (1) require written authorisation for all employees added...
The following questions concern audit testing of the payroll and personnel cycle. Choose the best response....
The following questions concern audit testing of the payroll and personnel cycle. Choose the best response. a A common aud it procedure in the audit of payroll transactions involves tracing selected items from the payroll journal to employee time cards that have been approved by supervisory personnel. This procedure is designed to provide evidence in support of the audit proposition that: (1) only proper employees worked and their pay was correctly computed (2) jobs on wh ich employees worked were...
questions concern audit reports other than unmodified opinion audit reports with standard wording Choose the best...
questions concern audit reports other than unmodified opinion audit reports with standard wording Choose the best response ed opinion, an opinion qualified due to a material doparture from generally accepted accounting principles would O 1. include an extra paragraph, following the opinion paragraph O 2. indicate that, except for the problem noted,the financial statements are presented fairly O 3. include a slight modfication to the introductory paragraph O 4. include a slight modification to the auditors responsibility paragraph.
Question 3 of 30. Choose the response that best completes the following sentence. A taxpayer may...
Question 3 of 30. Choose the response that best completes the following sentence. A taxpayer may be treated as actively participating in a rental real estate activity when they own at least 10% of the property and O Make management decisions in a significant and bona fide sense O Ratify decisions made by a property manager or management company. O Spend more than half their time in all trades or businesses in real estate activities. O Spend more than 750...
25-20 (Objective 25-8) The following questions concern reports issued by auditors, other than those on historical...
25-20 (Objective 25-8) The following questions concern reports issued by auditors, other than those on historical financial statements. Choose the best response. a. An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions? (1) Cash receipts and disbursements and the assets and liabilities arising from cash transactions. (2) Financial position and results of operations arising from cash transactions. (3) Balance sheet and income...
what standard from these standards had been violated at this case, and why ? Standards :...
what standard from these standards had been violated
at this case, and why ?
Standards :
please i want it quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the students. She signed it and send it to...
what standard from these standards had been violated at this case, and why ? Standards :...
what standard from these standards had been violated at
this case, and why ?
Standards :
i wanna a briefly solution, Does not exceed a one page, please
quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the...
Which of the following are elements of a CPA firm's quality control that should be considered in establishing its quality control policies and procedures? Human Resources Yes Yes No Yes Monitoring O 1. O 2. 03. O 4. Yes Yes Yes No No Yos Yes Yes
Which of the following is an element of a CPA firm's quality control policies and procedures applicable to the firm's auditing practice? Professional skepticism of management. Computer information processing Efficiency of organizational structures. Acceptance of a client relationship,
he following questions address CPA firms and entities that regulate them. Choose the best response a. An auditor of an entity subject to the rules of the SEC must conduct the financial statement audit in accordance with O 1. PCAOB standards O 2. Statements on Standards for Accounting and Review Services O3. International Auditing Standards O 4. Generally Accepted Government Auditing Standards
questions concern audit reports other than unmodified opinion audit reports with standard wording Choose the best response ed opinion, an opinion qualified due to a material doparture from generally accepted accounting principles would O 1. include an extra paragraph, following the opinion paragraph O 2. indicate that, except for the problem noted,the financial statements are presented fairly O 3. include a slight modfication to the introductory paragraph O 4. include a slight modification to the auditors responsibility paragraph.
Question 3 of 30. Choose the response that best completes the following sentence. A taxpayer may be treated as actively participating in a rental real estate activity when they own at least 10% of the property and O Make management decisions in a significant and bona fide sense O Ratify decisions made by a property manager or management company. O Spend more than half their time in all trades or businesses in real estate activities. O Spend more than 750...
25-20 (Objective 25-8) The following questions concern reports issued by auditors, other than those on historical financial statements. Choose the best response. a. An auditor is reporting on cash basis financial statements. These statements are best referred to in the opinion of the auditor by which of the following descriptions? (1) Cash receipts and disbursements and the assets and liabilities arising from cash transactions. (2) Financial position and results of operations arising from cash transactions. (3) Balance sheet and income...
what standard from these standards had been violated
at this case, and why ?
Standards :
please i want it quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the students. She signed it and send it to...
what standard from these standards had been violated at
this case, and why ?
Standards :
i wanna a briefly solution, Does not exceed a one page, please
quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the...
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