What is meant by undertanding the nature and environent of a client in regards to auditing?
Homework Answers
Understanding the nature and environment of a client in auditing means understanding the business and the business environment it operates in.
It involves understanding the industry in which the client operates, the circumstances, changes in the business, competitors of the client etc. And by understanding the nature its understanding the business - how revenue is generated in a business, who are the suppliers, debtors.
Add Answer to:
What is meant by undertanding the nature and environent of a client
in regards to auditing?
What is meant by the dual nature of light? Why is it useful to think of...
What is meant by the dual nature of light? Why is it useful to think of light in this way?Why is the sky blue and why are sunrises and sunsets reddish? Explain using the dual nature of light.
Which of the following best describes what is meant by generally accepted auditing standards? A Audit...
Which of the following best describes what is meant by generally accepted auditing standards? A Audit objectives generally determined on audit engagements. B Measures of the quality of the auditors' performance. C Acts to be performed by the auditors. D Procedures to be used to gather evidence to support financial statements.
Chapter 1 Principles of Auditing What are the core values of CPAs? Who is the client...
Chapter 1 Principles of Auditing What are the core values of CPAs? Who is the client in an audit? Who should internal auditors report to? What are the two attestation services discussed in this chapter?
Which one of the below factors is not included in the PCAOB auditing standards as one...
Which one of the below factors is not included in the PCAOB auditing standards as one that should influence the nature and extent of necessary planning activities? Group of answer choices The size and complexity of the client company. The size of the auditing firm and the number of auditors assigned to the audit. The auditor’s previous experience with the company. Changes in circumstances that occur during the audit. Which one of the below factors is not included in the...
Consider and discuss the specific risks and nature of the company (Apple) you will be auditing...
Consider and discuss the specific risks and nature of the company (Apple) you will be auditing and create comprehensive work programs for the Acquisition, Payment, Property Plant, and Equipment (Fixed Assets), Notes Payable and Owner's Equity accounts and cycles. What I need is what is Apple's sample size sample methodology as company in 2018.
Auditing
May you people help with auditing question and answers people I really need your help...mind regards
1. Explain the what is meant by internal controls. 2. Explain the process the audit team...
1. Explain the what is meant by internal controls. 2. Explain the process the audit team uses to assess control risk; understand its impact on the risk of material misstatement; and ultimately know how it affects the nature, timing, and extent of further audit procedures to be performed on the audit. 3. Describe additional responsibilities for management and auditors of public companies required by Sarbanes-Oxley and PCAOB auditing standard #2201. I need the answer in like 200 o 250 words....
In regards to the Freddie Mac scandal of 2003, What were the business risk and fraud...
In regards to the Freddie Mac scandal of 2003, What were the business risk and fraud factors? What accounts were misrepresented and how was it done? What auditing standards were violated?
What is meant by "auditor independence" and why do you think it is referred to as...
What is meant by "auditor independence" and why do you think it is referred to as the cornerstone of auditing?
6-40. (LO 1, 2 ) Assume that you are auditing a nonpublic U.S. client. You have...
6-40. (LO 1, 2 ) Assume that you are auditing a nonpublic U.S. client. You have obtained evidence that appears to be inconsistent with other evidence documented in the audit workpapers. Refer to the Auditing Standards Exhibit inside the front cover of this textbook and identify the appropriate standard that will help you address this issue. What guidance does that standard give you?
6-40. (LO 1, 2 ) Assume that you are auditing a nonpublic U.S. client. You have obtained evidence that appears to be inconsistent with other evidence documented in the audit workpapers. Refer to the Auditing Standards Exhibit inside the front cover of this textbook and identify the appropriate standard that will help you address this issue. What guidance does that standard give you?
Most questions answered within 3 hours.
-
Write a command line to view the long listing of all files,
including hidden files, with...
asked 1 minute ago -
Predict the reactions, if any, when the
following hydrogen compounds are added to water, and
explain...
asked 1 minute ago -
What is the expression for the uncertainty in the total energy
Etot of equation?
Assume an...
asked 4 minutes ago -
In response to the increasing weight of airline passengers, the
Federal Aviation Administration told airlines to...
asked 4 minutes ago -
Events A and B are independent. Suppose event A occurs with
probability 0.63 and event B...
asked 14 minutes ago -
Rubies are essentially alumina Al2O3 with a contaminant of
chromium in the form of Cr2O3. A...
asked 22 minutes ago -
Write a full program that will accept
exactly three command line arguments
that can be interpreted as...
asked 24 minutes ago -
1.histones are proteins that make up nucleosomes. they bind to
the backbone of DNA in chromosomes....
asked 33 minutes ago -
What is the relationship between a variables value and their
probabilities as it is summarized by...
asked 41 minutes ago -
Balance Sheet
DR
CR
Cash
10000
AR
7000
Supplies
500
Equipment
5,000
Accum depreciation
...
asked 39 minutes ago -
Country
Continent
GDP (millions of US$)
Afghanistan
Asia
 
asked 42 minutes ago -
1) Use the Euclidean algorithm (write in pseudocode) to find the
greatest common divisor of 8...
asked 1 hour ago